4,787 Shares in Chevron Corporation $CVX Acquired by Stonebridge Financial Group LLC MO

Stonebridge Financial Group LLC MO acquired a new position in shares of Chevron Corporation (NYSE:CVX) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 4,787 shares of the oil and gas company’s stock, valued at approximately $730,000.

Other hedge funds have also recently made changes to their positions in the company. Strategic Wealth Advisors LLC purchased a new position in shares of Chevron during the 4th quarter worth approximately $33,000. Decker Retirement Planning Inc. purchased a new position in shares of Chevron during the 3rd quarter worth approximately $34,000. Daytona Street Capital LLC purchased a new position in shares of Chevron during the 4th quarter worth approximately $44,000. Maseco LLP purchased a new position in shares of Chevron during the 4th quarter worth approximately $49,000. Finally, Turning Point Benefit Group Inc. purchased a new position in shares of Chevron during the 3rd quarter worth approximately $49,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Piper Sandler raised their price target on shares of Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Melius Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a report on Tuesday, February 17th. Wells Fargo & Company lifted their price target on shares of Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Sanford C. Bernstein cut their price target on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a research note on Monday. Finally, Tudor Pickering upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.13.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher crude prices and Middle East supply fears are lifting the outlook for oil producers, with several articles naming Chevron as a stock that could benefit if oil prices move higher. 3 Oil Stocks to Buy Before Prices Head Higher
• Positive Sentiment: Reuters reported that Syria selected an offshore block for its first deep-water oil and gas project with Chevron and Qatar’s UCC Holding, which could expand Chevron’s international exploration opportunities if the project advances. Syria selects offshore block for first deep-water oil, gas project with Chevron
• Neutral Sentiment: ADL and JLens urged Chevron shareholders to vote against Proposal 6 at the May 27 annual meeting, highlighting ongoing ESG and geopolitical controversy around the company’s Israel-related operations. ADL and JLens Urge Chevron Shareholders to Vote AGAINST Proposal 6
• Neutral Sentiment: Analysts are debating whether Chevron is still a safe bet after its sharp rally, with some commentary suggesting limited upside from current levels despite the recent strength in oil. Is Chevron a Safe Bet in the Energy Sector?
• Negative Sentiment: Some market commentary argues a drop in oil prices could signal weaker economic demand, which would be a risk for Chevron if crude cools off from recent highs. Here’s Why a Drop in Oil Prices Might Be a Warning Sign for the Economy

Chevron Stock Up 0.7%

Shares of NYSE:CVX opened at $185.95 on Wednesday. The company has a market cap of $370.33 billion, a price-to-earnings ratio of 32.23, a PEG ratio of 0.64 and a beta of 0.51. The firm’s 50-day simple moving average is $193.16 and its 200-day simple moving average is $172.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Chevron Corporation has a fifty-two week low of $133.77 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 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 the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.18 earnings per share. As a group, equities research analysts predict that Chevron Corporation will post 15.02 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be issued a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. Chevron’s payout ratio is presently 123.40%.

Insiders Place Their Bets

In other news, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the sale, the insider owned 11,337 shares of the company’s stock, valued at $2,130,449.04. The trade was a 92.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew Benjamin Walz sold 11,600 shares of Chevron stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $188.58, for a total transaction of $2,187,528.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 816,434 shares of company stock valued at $154,338,976. Corporate insiders own 0.56% of the company’s stock.

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.