SCP Investment LP Reduces Stake in Chevron Corporation $CVX

SCP Investment LP cut its position in shares of Chevron Corporation (NYSE:CVX) by 55.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,800 shares of the oil and gas company’s stock after selling 4,800 shares during the period. SCP Investment LP’s holdings in Chevron were worth $579,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Core Wealth Advisors LLC acquired a new position in shares of Chevron during the 4th quarter worth $26,000. Strategic Wealth Advisors LLC acquired a new stake in Chevron in the 4th quarter valued at about $33,000. Daytona Street Capital LLC acquired a new stake in Chevron in the 4th quarter valued at about $44,000. Maseco LLP purchased a new position in Chevron during the 4th quarter valued at about $49,000. Finally, Turning Point Benefit Group Inc. acquired a new position in Chevron during the third quarter worth about $49,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, insider R. Hewitt Pate sold 47,200 shares of Chevron stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $192.12, for a total value of $9,068,064.00. Following the completion of the sale, the insider owned 8,558 shares in the company, valued at $1,644,162.96. The trade was a 84.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hess sold 380,000 shares of the company’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 transaction, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 662,400 shares of company stock valued at $127,090,824 over the last quarter. Insiders own 0.56% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $187.77 on Wednesday. Chevron Corporation has a 1 year low of $136.60 and a 1 year high of $214.71. The company’s 50 day simple moving average is $191.96 and its 200 day simple moving average is $176.04. The company has a market capitalization of $373.95 billion, a price-to-earnings ratio of 32.54, a PEG ratio of 0.61 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.18 EPS. On average, sell-side analysts predict that Chevron Corporation will post 15.74 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be given a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. Chevron’s payout ratio is currently 123.40%.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is attracting fresh bullish research coverage, with several reports highlighting its earnings momentum, growth drivers, and valuation appeal. Barclays also raised its price target on Chevron to $213 from $192 while keeping an Equal Weight rating. Top Research Reports for Chevron, Goldman Sachs & Philip Morris
• Positive Sentiment: Chevron applied to join Argentina’s incentive regime for a $13.8 billion unconventional oil project in Vaca Muerta, signaling a major long-term investment that could expand production and future cash flow. Chevron applies for Argentina tax break program with $13.8 billion investment plan
• Positive Sentiment: Recent commentary also points to Chevron’s production growth and offshore expansion strategy, including its completed Hess acquisition in Guyana and new exploration ambitions in Greece, reinforcing the company’s reserve and output growth story. Chevron Deepens Offshore Bets In Guyana And Greece As Risk Profile Shifts

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Melius Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a research report on Tuesday, February 17th. Morgan Stanley lifted their price objective on Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. TD Cowen increased their target price on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a report on Friday, May 8th. Piper Sandler raised their price target on Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Finally, Zacks Research raised Chevron from a “hold” rating to a “strong-buy” rating in a report on Friday, April 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.