Lombard Odier Asset Management Switzerland SA Lowers Holdings in Chevron Corporation $CVX

Lombard Odier Asset Management Switzerland SA cut its holdings in shares of Chevron Corporation (NYSE:CVX) by 35.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,983 shares of the oil and gas company’s stock after selling 4,876 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in Chevron were worth $1,859,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $3,727,586,000. State Street Corp boosted its position in shares of Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after purchasing an additional 12,789,399 shares during the period. Berkshire Hathaway Inc boosted its position in shares of Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after purchasing an additional 8,091,570 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Chevron by 822.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock valued at $946,658,000 after purchasing an additional 5,537,580 shares during the last quarter. Finally, Aristotle Capital Management LLC raised its position in Chevron by 653.0% in the first quarter. Aristotle Capital Management LLC now owns 4,526,223 shares of the oil and gas company’s stock valued at $936,492,000 after purchasing an additional 3,925,137 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In other news, 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 value of $73,416,000.00. Following the sale, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.56% of the company’s stock.

Chevron Price Performance

CVX stock opened at $194.72 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The firm has a market capitalization of $387.80 billion, a P/E ratio of 33.75, a P/E/G ratio of 0.65 and a beta of 0.50. The business’s 50-day moving average is $182.12 and its two-hundred day moving average is $183.97. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $214.71.

Chevron (NYSE:CVX) last announced 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 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 in the previous year, the company posted $2.18 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts anticipate that Chevron Corporation will post 15.6 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Mizuho boosted their price objective on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. BNP Paribas Exane upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target on the stock in a research note on Friday, April 17th. Tudor Pickering raised shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target on the stock in a research report on Thursday, April 9th. Finally, Citigroup raised their price objective on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Nineteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.17.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as one of the biggest beneficiaries of the recent oil rally, with Brent briefly topping $100 a barrel and integrated oil majors gaining as investors price in tighter global supply. BATL, CVX, XOM Stocks Rise As Brent Crude Tops $100 – Trump Threatens Iran With ‘Major Military Punishment’ After Houthi Attack On Saudi Ships
• Positive Sentiment: Chevron was also singled out as the only “outperform”-rated global oil major in Piper Sandler’s new coverage, reinforcing a relatively favorable analyst view versus peers. Chevron only outperform-rated name among global oil majors initiated at Piper Sandler
• Neutral Sentiment: Recent commentary says Chevron is rallying despite a classic bearish signal, suggesting momentum traders are still buying the stock even after the move in oil. Chevron ignored a classic bearish call: Here’s why stock is rallying
• Neutral Sentiment: Several previews ahead of next week’s earnings note that Chevron is expected to report higher earnings, but one Zacks piece warns the company may not have the ideal setup for a clear beat. Chevron (CVX) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Negative Sentiment: Some analysis cautions that Chevron’s rally could face headwinds if Chinese crude demand weakens, which could limit upside even if oil prices remain elevated. Chevron’s Biggest Stock Rally Since 2022 Faces a China-Sized Problem

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.