Gerald Baker Financial Group LLC Invests $5.13 Million in Chevron Corporation $CVX

Gerald Baker Financial Group LLC bought a new stake in shares of Chevron Corporation (NYSE:CVX) during the first quarter, Holdings Channel reports. The fund bought 24,795 shares of the oil and gas company’s stock, valued at approximately $5,130,000. Chevron makes up approximately 1.7% of Gerald Baker Financial Group LLC’s portfolio, making the stock its 18th largest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Midwest Capital Advisors LLC acquired a new position in Chevron during the first quarter worth $25,000. Core Wealth Advisors LLC purchased a new position in Chevron during the fourth quarter valued at $26,000. Phillip James Consulting Co. acquired a new stake in shares of Chevron in the fourth quarter valued at about $26,000. Basso Capital Management L.P. acquired a new stake in shares of Chevron in the fourth quarter valued at about $27,000. Finally, Karpus Management Inc. purchased a new stake in shares of Chevron during the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign memorandums of understanding with Iraq to advance investment in the West Qurna 2 and Nassiriya oilfields, potentially expanding its long-term production base. Reuters article
• Positive Sentiment: The company is also exploring a pipeline alternative to the Strait of Hormuz, which could reduce export risk and support more reliable Iraqi oil shipments if geopolitical risk stays elevated. WSJ article
• Positive Sentiment: Chevron’s stock has also been helped by broader energy-sector strength, with energy shares rising even as the wider market softened. Yahoo Finance article
• Neutral Sentiment: Analysts and commentary suggest Chevron may be fairly valued after a strong five-year run, which supports the stock but also limits the upside from valuation alone. Yahoo Finance article
• Neutral Sentiment: Recent broker notes have been mixed, including hold ratings and modest price-target cuts, indicating Wall Street is constructive but not aggressively bullish. Yahoo Finance article

Chevron Stock Performance

NYSE CVX opened at $183.69 on Friday. The stock’s fifty day moving average is $181.42 and its two-hundred day moving average is $182.41. The firm has a market capitalization of $365.83 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 0.64 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 earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $51.86 billion. During the same period last year, the company earned $2.18 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts anticipate that Chevron Corporation will post 14.75 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 3.9%. The ex-dividend date was Tuesday, May 19th. Chevron’s payout ratio is presently 123.40%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $216.00 price target on shares of Chevron in a research note on Friday, July 10th. Wells Fargo & Company raised their target price on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Barclays increased their price objective on Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. Finally, HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research note on Friday, March 20th. Nineteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $206.83.

Insiders Place Their Bets

In other news, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.56% of the stock is owned by insiders.

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.