Townsquare Capital LLC Sells 12,386 Shares of Chevron Corporation $CVX

Townsquare Capital LLC decreased its position in Chevron Corporation (NYSE:CVX) by 22.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,100 shares of the oil and gas company’s stock after selling 12,386 shares during the quarter. Chevron makes up 1.5% of Townsquare Capital LLC’s portfolio, making the stock its 15th biggest holding. Townsquare Capital LLC’s holdings in Chevron were worth $6,569,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Dakota Wealth Management lifted its holdings in Chevron by 14.9% in the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock valued at $12,690,000 after acquiring an additional 10,822 shares during the period. Brooklyn FI LLC bought a new position in Chevron in the third quarter valued at about $431,000. Clear Trail Advisors LLC bought a new position in Chevron in the fourth quarter valued at about $10,167,000. Finemark National Bank & Trust lifted its holdings in Chevron by 40.3% in the third quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock valued at $8,779,000 after acquiring an additional 16,243 shares during the period. Finally, Curtis Advisory Group LLC bought a new position in Chevron in the fourth quarter valued at about $1,381,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $189.89 on Thursday. 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 company has a market cap of $378.19 billion, a P/E ratio of 32.91, a P/E/G ratio of 0.62 and a beta of 0.48. The firm’s fifty day moving average is $189.38 and its two-hundred day moving average is $177.75. Chevron Corporation has a 52-week low of $142.40 and a 52-week high of $214.71.

Chevron (NYSE:CVX) last announced its quarterly 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. The company had revenue of $47.56 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.18 EPS. As a group, analysts anticipate that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Tuesday, May 19th. Chevron’s payout ratio is currently 123.40%.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director 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 legal filing with the SEC, which is available through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the sale, the insider directly owned 8,638 shares in the company, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 615,200 shares of company stock worth $118,022,760. 0.56% of the stock is currently owned by insiders.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as one of the top oil stocks to buy as energy investors look for resilient names, with articles emphasizing its defensive cash flows and income appeal. Article Title
• Positive Sentiment: Market commentary on Chevron’s Guyana assets pointed to a combined $7.6 billion profit for ExxonMobil and Chevron last year, reinforcing the value of its low-cost production base amid geopolitical tensions. Article Title
• Positive Sentiment: Chevron was also featured in a bullish technical forecast saying momentum is improving and buyers may be regaining control as the stock approaches a breakout level. Article Title
• Positive Sentiment: Reports that Chevron is advancing a major shale project in Argentina’s Vaca Muerta basin and moving closer to approval for a $13.8 billion investment could support future production growth. Article Title
• Neutral Sentiment: Chevron continues to attract attention as a dividend stock for retirement portfolios, which supports the investment case but does not represent a new catalyst. Article Title
• Negative Sentiment: Zacks Research downgraded Chevron from strong-buy to hold, which could temper enthusiasm despite the stock’s otherwise constructive news flow. Article Title

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. Mizuho raised their price objective on Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Piper Sandler raised their price objective on Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. HSBC raised Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a research note on Friday, March 20th. Finally, Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $205.70.

About Chevron

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.