Chevron Corporation $CVX Shares Bought by Liberty One Investment Management LLC

Liberty One Investment Management LLC raised its stake in Chevron Corporation (NYSE:CVX) by 30.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 33,480 shares of the oil and gas company’s stock after purchasing an additional 7,820 shares during the period. Liberty One Investment Management LLC’s holdings in Chevron were worth $6,927,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Bowen Hanes & Co. Inc. grew its position in shares of Chevron by 9.2% in the 1st quarter. Bowen Hanes & Co. Inc. now owns 5,963 shares of the oil and gas company’s stock worth $1,234,000 after acquiring an additional 500 shares in the last quarter. Dickmeyer Boyce Financial Management Inc. acquired a new stake in shares of Chevron during the 1st quarter valued at approximately $1,378,000. Gibbs Wealth Management lifted its stake in Chevron by 112.9% during the first quarter. Gibbs Wealth Management now owns 17,068 shares of the oil and gas company’s stock worth $3,531,000 after purchasing an additional 9,052 shares during the last quarter. American Financial Advisors LLC bought a new position in Chevron during the first quarter worth $255,000. Finally, Sei Investments Co. boosted its holdings in Chevron by 53.7% in the first quarter. Sei Investments Co. now owns 1,071,141 shares of the oil and gas company’s stock worth $221,618,000 after purchasing an additional 374,198 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Piper Sandler initiated coverage on Chevron as the only global oil major with an outperform rating, a constructive signal versus peers. Chevron only outperform-rated name among global oil majors initiated at Piper Sandler
• Positive Sentiment: Oil prices surged above $100 a barrel intraday amid geopolitical tensions, which should improve Chevron’s realized prices and near-term earnings prospects. BATL, CVX, XOM Stocks Rise As Brent Crude Tops $100 – Trump Threatens Iran With ‘Major Military Punishment’ After Houthi Attack On Saudi Ships
• Positive Sentiment: Chevron was highlighted as an outperformer among dividend and integrated energy names, reinforcing its appeal as a defensive income stock in a stronger oil market. Chevron Leads 3 Dividend Aristocrats Paying Up to 4% and Beating the S&P 500
• Neutral Sentiment: Chevron shut production at a U.S. Gulf platform ahead of a tropical storm, a precautionary move that may temporarily limit output but is not necessarily a long-term issue. Chevron shuts production at U.S. Gulf platform ahead of tropical storm
• Neutral Sentiment: TD Cowen raised Chevron’s price target to $200 from $197 while keeping a hold rating, suggesting modest upside but not a major change in sentiment. Chevron price target raised by TD Cowen
• Negative Sentiment: One warning sign is that some strategists see a possible China demand slowdown and falling crude imports as a threat to the recent oil-driven rally later this year. Chevron’s Biggest Stock Rally Since 2022 Faces a China-Sized Problem

Analysts Set New Price Targets

CVX has been the subject of several recent research reports. Tudor Pickering upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price for the company in a research note on Thursday, April 9th. Piper Sandler initiated coverage on shares of Chevron in a research report on Thursday. They issued an “overweight” rating and a $207.00 price target on the stock. TD Cowen lifted their price target on shares of Chevron from $197.00 to $200.00 and gave the company a “hold” rating in a report on Wednesday. UBS Group reaffirmed a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Finally, Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research note on Thursday, July 2nd. Nineteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $205.17.

Chevron Price Performance

Shares of CVX opened at $194.39 on Friday. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The stock has a fifty day moving average price of $182.04 and a 200 day moving average price of $183.75. The company has a market cap of $387.15 billion, a P/E ratio of 33.69, a PEG ratio of 0.68 and a beta of 0.50.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. During the same period last year, the business posted $2.18 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, research analysts forecast that Chevron Corporation will post 14.75 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.7%. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. The trade was a 57.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.