Zions Bancorporation National Association UT Has $8.50 Million Position in Chevron Corporation $CVX

Zions Bancorporation National Association UT reduced its holdings in Chevron Corporation (NYSE:CVX) by 5.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,765 shares of the oil and gas company’s stock after selling 3,371 shares during the period. Zions Bancorporation National Association UT’s holdings in Chevron were worth $8,499,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CVX. Core Wealth Advisors LLC acquired a new stake in Chevron in the fourth quarter worth $26,000. Strategic Wealth Advisors LLC acquired a new stake in Chevron in the fourth quarter worth $33,000. Daytona Street Capital LLC acquired a new stake in Chevron in the fourth quarter worth $44,000. Maseco LLP acquired a new stake in Chevron in the fourth quarter worth $49,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in Chevron in the third quarter worth $49,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVX has been the topic of several analyst reports. Citigroup increased their target price on shares of Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Bank of America increased their target price on shares of Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Piper Sandler increased their target price on shares of Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Mizuho increased their target price on shares of Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Zacks Research lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday. Eighteen research 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.70.

Insiders Place Their Bets

In related news, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction on 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 approximately $53,718,294. This trade represents a 57.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 615,200 shares of company stock valued at $118,022,760. 0.56% of the stock is owned by insiders.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Erste Group Bank raised its FY2027 EPS estimate for Chevron, suggesting improved profit expectations and reinforcing the view that the company can deliver stronger earnings over time.
• Positive Sentiment: Chevron was highlighted in articles noting that elevated geopolitical risk in the Middle East has helped support oil prices and the economics of large, low-cost projects like Guyana, which can benefit Chevron’s upstream earnings.
• Positive Sentiment: Reports that Chevron is advancing a major Vaca Muerta shale project in Argentina and may help unlock a $3 billion natural gas liquids venture point to growth in its international portfolio.
• Positive Sentiment: Several market commentary pieces described Chevron as an attractive dividend and value name, which can draw income-focused buyers and support the stock.
• Neutral Sentiment: Technical analysis commentary suggested bullish momentum is building and that CVX could be approaching a breakout level, but this is not a fundamental catalyst on its own.
• Negative Sentiment: Zacks Research downgraded Chevron from “strong-buy” to “hold,” which may temper enthusiasm even though broader brokerage sentiment remains moderate buy.

Chevron Trading Up 1.7%

Shares of NYSE:CVX opened at $189.89 on Thursday. Chevron Corporation has a 12 month low of $142.40 and a 12 month high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company’s fifty day simple moving average is $189.38 and its 200 day simple moving average is $177.75. The firm has a market cap of $378.19 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 0.62 and a beta of 0.48.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business had revenue of $47.56 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. As a group, research analysts forecast that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced 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 of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. Chevron’s dividend payout ratio (DPR) is 123.40%.

Chevron 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.