Evelyn Partners Investment Management LLP Sells 3,618 Shares of Chevron Corporation $CVX

Evelyn Partners Investment Management LLP reduced its holdings in Chevron Corporation (NYSE:CVX) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 100,111 shares of the oil and gas company’s stock after selling 3,618 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Chevron were worth $20,713,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CVX. The Manufacturers Life Insurance Company boosted its stake in Chevron by 2.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,487,550 shares of the oil and gas company’s stock valued at $307,774,000 after purchasing an additional 33,117 shares during the period. Glen Eagle Advisors LLC increased its position in Chevron by 6.6% in the 1st quarter. Glen Eagle Advisors LLC now owns 3,676 shares of the oil and gas company’s stock worth $761,000 after buying an additional 226 shares during the period. Excelsior Advisor Network LLC lifted its holdings in shares of Chevron by 9.7% during the first quarter. Excelsior Advisor Network LLC now owns 18,432 shares of the oil and gas company’s stock worth $3,814,000 after buying an additional 1,635 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Chevron by 32.6% during the first quarter. Quantinno Capital Management LP now owns 899,637 shares of the oil and gas company’s stock worth $186,135,000 after buying an additional 221,211 shares during the last quarter. Finally, Copley Financial Group Inc. boosted its position in shares of Chevron by 22.4% in the first quarter. Copley Financial Group Inc. now owns 8,406 shares of the oil and gas company’s stock valued at $1,739,000 after acquiring an additional 1,538 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron raised its quarterly dividend, extending its decades-long streak of dividend increases and reinforcing its appeal to income-focused investors. Chevron lifts quarterly dividend
• Positive Sentiment: A Chevron subsidiary awarded Velesto a multiyear, $51 million drilling contract for the North Malay Basin gas development in Malaysia. The agreement supports Chevron’s offshore growth plans, although its direct financial impact is likely modest relative to the company’s overall scale. Chevron North Malay Basin contract
• Neutral Sentiment: CEO Mike Wirth reportedly met with U.S. officials about protecting Chevron’s Kazakhstan oil assets from becoming entangled in the Russia-Ukraine war. The discussions highlight the strategic importance of the assets but also underscore geopolitical and regulatory risks. Chevron Kazakhstan assets discussions
• Negative Sentiment: Brent crude settled 12% lower at $86.49 per barrel, while West Texas Intermediate fell 7.5% to $82.61, after President Trump suggested a potential breakthrough with Iran. Lower oil prices can pressure Chevron’s upstream revenue, cash flow and earnings expectations. Oil prices slide on Iran negotiations
• Negative Sentiment: The broader energy sector also declined as crude prices weakened, while investors favored technology and AI-related stocks ahead of major earnings reports. This sector rotation added to selling pressure on Chevron. Energy sector update

Chevron Trading Down 2.5%

Shares of CVX stock opened at $189.84 on Tuesday. The firm has a fifty day moving average of $181.99 and a 200-day moving average of $184.20. The stock has a market cap of $378.09 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 0.65 and a beta of 0.50. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71. 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 (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 analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business earned $2.18 EPS. On average, equities research analysts forecast that Chevron Corporation will post 15.6 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s payout ratio is presently 123.40%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CVX. Scotiabank increased their price target on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Wells Fargo & Company increased their target price on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. The Goldman Sachs Group restated a “buy” rating and set a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. UBS Group reaffirmed a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research report on Friday, July 10th. 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $205.17.

Insiders Place Their Bets

In other 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 directly 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.

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.