Keebeck Wealth Management Has $1.22 Million Stock Holdings in Chevron Corporation $CVX

Keebeck Wealth Management increased its stake in shares of Chevron Corporation (NYSE:CVX) by 231.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,912 shares of the oil and gas company’s stock after buying an additional 4,129 shares during the period. Keebeck Wealth Management’s holdings in Chevron were worth $1,223,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of CVX. Midwest Capital Advisors LLC bought a new position in shares of Chevron during the first quarter worth approximately $25,000. Core Wealth Advisors LLC bought a new stake in Chevron in the 4th quarter valued at $26,000. Phillip James Consulting Co. bought a new stake in Chevron in the 4th quarter valued at $26,000. Basso Capital Management L.P. acquired a new position in Chevron in the 4th quarter valued at $27,000. Finally, Karpus Management Inc. acquired a new position in Chevron in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Key Headlines 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 Stock Up 0.2%

NYSE CVX opened at $194.72 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The stock has a market capitalization of $387.80 billion, a PE ratio of 33.75, a PEG ratio of 0.69 and a beta of 0.50. The business has a fifty day moving average price of $182.12 and a two-hundred day moving average price of $183.83.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 return on equity of 6.90% and a net margin of 5.79%.Chevron’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $2.18 earnings per share. Equities analysts expect that Chevron Corporation will post 14.75 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Piper Sandler initiated coverage on Chevron in a report on Thursday. They set an “overweight” rating and a $207.00 target price for the company. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Thursday, July 2nd. Barclays raised their price target on shares of Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 26th. Sanford C. Bernstein dropped their price objective on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research note on Monday, May 11th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a research note on Tuesday, May 5th. Nineteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $205.17.

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.