Chevron Corporation $CVX Shares Sold by Richards Merrill & Peterson Inc.

Richards Merrill & Peterson Inc. cut its stake in Chevron Corporation (NYSE:CVX) by 12.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,312 shares of the oil and gas company’s stock after selling 4,448 shares during the quarter. Chevron accounts for 2.3% of Richards Merrill & Peterson Inc.’s holdings, making the stock its 8th biggest position. Richards Merrill & Peterson Inc.’s holdings in Chevron were worth $6,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Core Wealth Advisors LLC acquired a new position in Chevron during the fourth quarter valued at approximately $26,000. Phillip James Consulting Co. acquired a new stake in Chevron in the fourth quarter worth $26,000. Basso Capital Management L.P. acquired a new stake in Chevron in the fourth quarter worth $27,000. Karpus Management Inc. acquired a new stake in Chevron in the fourth quarter worth $27,000. Finally, Quattro Advisors LLC bought a new position in shares of Chevron during the fourth quarter worth $27,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s 20-year power deal with Microsoft for a large natural-gas-powered data center project is being viewed as a potentially significant new growth platform, opening a long-duration revenue opportunity tied to AI infrastructure. Chevron and Microsoft Partner on Landmark Texas AI Power Project
• Positive Sentiment: Texas Pacific Land’s agreement to provide land and water support for Chevron’s large-scale power project suggests the initiative is moving forward and could strengthen investor confidence in Chevron’s expansion into data-center power. Texas Pacific Land Partners with Chevron on Data Center Project
• Neutral Sentiment: Analyst coverage continues to focus on Chevron’s position versus Shell and other energy peers, keeping attention on the company’s relative valuation and growth profile. Analysts Offer Insights on Energy Companies: Chevron (CVX) and Shell (SHEL)
• Negative Sentiment: Crude oil weakness is pressuring the broader energy group, which can weigh on Chevron’s near-term earnings outlook and sentiment toward the stock. Peabody Energy and Crescent Energy Shares Are Falling, What You Need To Know
• Negative Sentiment: News that President Trump said Chevron is among firms being probed over gasoline-price spikes adds regulatory risk and could raise investor concerns about possible investigations or political pressure. Trump says Exxon, Chevron among firms probed as part of surge in gas prices

Chevron Trading Down 2.4%

Shares of NYSE:CVX opened at $171.73 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 $185.68 and its 200 day simple moving average is $179.68. The firm has a market cap of $342.02 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 0.58 and a beta of 0.48.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion for 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%. The firm’s revenue 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, research analysts forecast that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio is currently 123.40%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. UBS Group reissued a “buy” rating on shares of Chevron in a report on Tuesday. 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. BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price on the stock in a report on Friday, April 17th. Morgan Stanley boosted their target price on Chevron from $212.00 to $214.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Finally, Wells Fargo & Company increased their price target on Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.70.

Insider Activity

In related 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 approximately $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction that occurred 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 sale, the insider owned 8,638 shares in the company, valued at $1,842,485.40. The trade was a 82.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 615,200 shares of company stock valued at $118,022,760 over the last ninety days. 0.56% of the stock is owned by 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.