Ramsay Stattman Vela & Price Inc. Reduces Stock Holdings in Chevron Corporation $CVX

Ramsay Stattman Vela & Price Inc. reduced its holdings in shares of Chevron Corporation (NYSE:CVX) by 10.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,435 shares of the oil and gas company’s stock after selling 4,560 shares during the period. Chevron makes up 1.6% of Ramsay Stattman Vela & Price Inc.’s holdings, making the stock its 25th largest position. Ramsay Stattman Vela & Price Inc.’s holdings in Chevron were worth $8,159,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Midwest Capital Advisors LLC acquired a new position in shares of Chevron during the first quarter valued at about $25,000. Phillip James Consulting Co. acquired a new stake in Chevron in the 4th quarter worth approximately $26,000. Core Wealth Advisors LLC purchased a new stake in Chevron during the 4th quarter worth approximately $26,000. Karpus Management Inc. purchased a new stake in Chevron during the 4th quarter worth approximately $27,000. Finally, Basso Capital Management L.P. acquired a new position in Chevron during the 4th quarter valued at approximately $27,000. 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: Bank of America reportedly sees Chevron as a preferred way to play a potential crude price surge if tensions around the Strait of Hormuz keep oil prices elevated. CVX Stock Has A New Bull Case — Why Bank Of America Favors Chevron Over Exxon As Hormuz Risks Push Oil Prices Higher
• Positive Sentiment: Chevron announced a licensing agreement for its enhanced oil recovery technology, which could boost shale production, improve recovery rates, and create a new commercialization avenue. Chevron offers rival drillers its chemical technology to boost shale oil output
• Positive Sentiment: Media coverage highlighted Chevron’s exposure to higher crude prices as geopolitical risk in the Middle East increased, improving the earnings outlook for integrated oil producers. Ceasefire Cracks, Oil Bounces: Why Exxon, Chevron Stocks Are Hot Again
• Neutral Sentiment: Several articles frame Chevron as a long-term dividend and blue-chip energy holding, but these are mostly opinion pieces rather than new catalysts. ExxonMobil vs. Chevron: Which Oil Dividend Stock is the Better Buy for a Lifetime of Passive Income
• Neutral Sentiment: Coverage around Chevron’s inclusion in the Dow and broader energy-sector technical signals may support investor interest, but they do not appear to be immediate stock-moving events. What Keeps Chevron (NYSE:CVX) in the Dow Jones Industrial Average?
• Negative Sentiment: Chevron was also mentioned in connection with a DOJ probe tied to allegations of oil-price gouging, which could add regulatory overhang even as higher oil prices improve profit potential. Chevron (CVX) Faces DOJ Probe As Iran Tensions Raise Record Profit Stakes
• Negative Sentiment: Chevron’s tanker used for CPC oil shipments was reportedly hit by a drone in the Black Sea, underscoring geopolitical and operational risk. Chevron tanker used for CPC oil hit by drone in Black Sea

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of the company’s 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 in the company, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings cut shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Citigroup upped their target price on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. UBS Group restated a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. Sanford C. Bernstein lowered their price target on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. Nineteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.71.

Chevron Price Performance

Shares of CVX opened at $174.05 on Friday. The business’s 50-day moving average is $182.23 and its two-hundred day moving average is $181.32. The company has a market capitalization of $346.64 billion, a P/E ratio of 30.16, a P/E/G ratio of 0.60 and a beta of 0.50. 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 Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the previous year, the firm posted $2.18 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts predict that Chevron Corporation will post 15.28 earnings per share for the current year.

Chevron Announces Dividend

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

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.