Lockheed Martin Investment Management Co. Raises Stock Position in Chevron Corporation $CVX

Lockheed Martin Investment Management Co. lifted its holdings in Chevron Corporation (NYSE:CVX) by 12.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 51,000 shares of the oil and gas company’s stock after acquiring an additional 5,620 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Chevron were worth $7,773,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dakota Wealth Management boosted its stake in Chevron by 14.9% in the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock worth $12,690,000 after purchasing an additional 10,822 shares in the last quarter. Brooklyn FI LLC bought a new position in Chevron during the 3rd quarter valued at about $431,000. Clear Trail Advisors LLC bought a new position in Chevron during the 4th quarter valued at about $10,167,000. Finemark National Bank & Trust lifted its stake in Chevron by 40.3% during the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock valued at $8,779,000 after acquiring an additional 16,243 shares during the period. Finally, Curtis Advisory Group LLC bought a new position in Chevron during the 4th quarter valued at about $1,381,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell its Singapore refining stake and other Asia-Pacific downstream assets to ENEOS for roughly $2.17 billion, reinforcing its strategy to streamline the portfolio and potentially improve returns. Reuters article on ENEOS buying Chevron assets
• Positive Sentiment: Another report framed Chevron’s recent earnings as less weak than the headline numbers suggested, noting that the company’s share price did not fall sharply after the results, which may indicate investors are focusing on underlying cash generation and strategic actions rather than the revenue miss. Yahoo Finance article on Chevron earnings
• Neutral Sentiment: Market commentary this week also compared Chevron with TotalEnergies and discussed broader oil-sector themes, but those pieces were more about sector positioning than a direct new fundamental change for Chevron. Motley Fool comparison article
• Negative Sentiment: Chevron’s latest quarter was mixed, with earnings per share beating estimates but revenue coming in below expectations, which could temper enthusiasm if investors refocus on operating performance rather than asset sales. Chevron stock background

Wall Street Analysts Forecast Growth

CVX has been the topic of several research analyst reports. BMO Capital Markets restated an “outperform” rating and set a $190.00 target price on shares of Chevron in a research note on Monday, February 2nd. Zacks Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 3rd. Sanford C. Bernstein lowered their target price 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. Barclays upped their target price on shares of Chevron from $180.00 to $192.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $220.00 target price on shares of Chevron in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.13.

Insider Transactions at Chevron

In other news, Vice Chairman Mark A. Nelson sold 139,600 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 11,337 shares in the company, valued at $2,130,449.04. This represents a 92.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael K. Wirth sold 272,624 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the completion of the transaction, the chief executive officer owned 31,266 shares in the company, valued at $5,920,217.10. This trade represents a 89.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 803,570 shares of company stock worth $151,969,798. 0.56% of the stock is currently owned by corporate insiders.

Chevron Price Performance

Shares of NYSE:CVX opened at $190.91 on Friday. The firm’s 50 day moving average price is $193.14 and its 200-day moving average price is $173.26. Chevron Corporation has a twelve month low of $133.77 and a twelve month high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $380.22 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 0.64 and a beta of 0.51.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the prior year, the business earned $2.18 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts expect that Chevron Corporation will post 15.23 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be paid a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.

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.