National Pension Service Raises Stock Position in Chevron Corporation $CVX

National Pension Service lifted its holdings in Chevron Corporation (NYSE:CVX) by 10.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,360,210 shares of the oil and gas company’s stock after buying an additional 419,539 shares during the period. National Pension Service’s holdings in Chevron were worth $664,540,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CVX. Vanguard Group Inc. grew its position in Chevron by 17.9% in the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after acquiring an additional 27,961,463 shares in the last quarter. State Street Corp increased its stake in Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after acquiring an additional 12,789,399 shares during the last quarter. Geode Capital Management LLC raised its position in Chevron by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after purchasing an additional 134,890 shares during the period. Northern Trust Corp raised its position in Chevron by 15.3% during the third quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company’s stock valued at $3,528,890,000 after purchasing an additional 3,007,403 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Chevron by 1.5% in the 4th quarter. Fisher Asset Management LLC now owns 21,471,919 shares of the oil and gas company’s stock valued at $3,272,535,000 after purchasing an additional 319,859 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron CEO Mike Wirth said oil prices could rise further if Middle East tensions continue to disrupt supply, with the Strait of Hormuz blockade reducing global barrels and tightening market “shock absorbers.” Higher oil prices typically improve upstream earnings for Chevron. Chevron CEO Wirth warns oil prices likely to rise as Iran war hits supplies
• Positive Sentiment: Chevron filed to take control of an offshore Greek gas block, expanding its Mediterranean footprint and adding another potential long-term gas growth avenue. Chevron files request to acquire offshore Greek block, energy ministry says
• Positive Sentiment: Chevron also highlighted stronger gas demand linked to data-center power needs, reinforcing the company’s outlook for natural gas as a key growth driver. Chevron Highlights Stronger Coal Consumption Outlook
• Neutral Sentiment: Chevron shareholders rejected a proposal to separate the board chair and CEO roles, which removes one governance overhang but is unlikely to be a major near-term stock driver. Chevron shareholders reject proposal that requires independent board chair separate from CEO role
• Neutral Sentiment: A proposed U.S. bill to temporarily cut fuel taxes could affect gasoline demand and pricing dynamics for Chevron, but it is only a proposal and not yet law. New Bill: Representative Anna Paulina Luna introduces H.R. 8795: American Families Gas Tax Relief Act

Chevron Trading Up 0.5%

Shares of NYSE CVX opened at $183.24 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The business’s 50 day moving average price is $192.60 and its 200-day moving average price is $175.64. Chevron Corporation has a fifty-two week low of $135.21 and a fifty-two week high of $214.71. The company has a market cap of $364.93 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 0.60 and a beta of 0.51.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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. The company had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.Chevron’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.18 EPS. On average, sell-side analysts expect that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is 123.40%.

Insider Activity

In other news, CEO Michael K. Wirth sold 272,624 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $189.35, for a total value of $51,621,354.40. Following the transaction, the chief executive officer directly owned 31,266 shares in the company, valued at approximately $5,920,217.10. This represents a 89.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was 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 owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,144,224 shares of company stock valued at $218,075,038. Insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of a number of recent research reports. Morgan Stanley lifted their target price on Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a research report on Friday, March 20th. Melius Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research note on Tuesday, February 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 price objective on shares of Chevron in a research report on Tuesday, May 5th. Finally, Wells Fargo & Company increased their target price on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.70.

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.