Saranac Partners Ltd Has $402,000 Holdings in Chevron Corporation $CVX

Saranac Partners Ltd lessened its stake in shares of Chevron Corporation (NYSE:CVX) by 56.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,636 shares of the oil and gas company’s stock after selling 3,439 shares during the quarter. Saranac Partners Ltd’s holdings in Chevron were worth $402,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Dakota Wealth Management raised its holdings in shares of Chevron by 14.9% in the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock valued at $12,690,000 after buying an additional 10,822 shares during the last quarter. Brooklyn FI LLC acquired a new position in Chevron during the 3rd quarter worth about $431,000. Clear Trail Advisors LLC bought a new stake in Chevron during the 4th quarter worth about $10,167,000. Finemark National Bank & Trust increased its position in Chevron by 40.3% in 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 in the last quarter. Finally, Curtis Advisory Group LLC acquired a new stake in Chevron in the 4th quarter valued at about $1,381,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

CVX stock opened at $197.38 on Wednesday. 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 company has a market cap of $393.11 billion, a P/E ratio of 34.21, a price-to-earnings-growth ratio of 0.66 and a beta of 0.51. The business’s fifty day moving average is $193.41 and its 200-day moving average is $173.98.

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. The business had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.18 earnings per share. Equities research analysts forecast that Chevron Corporation will post 15.43 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, May 19th. Chevron’s payout ratio is presently 123.40%.

Insider Buying and Selling

In related news, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the transaction, the insider owned 8,638 shares in the company, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the sale, the insider directly owned 11,337 shares of the company’s stock, valued at $2,130,449.04. The trade was a 92.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 799,699 shares of company stock worth $151,259,517 over the last quarter. Insiders own 0.56% of the company’s stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wall Street commentary has turned more upbeat on Chevron, with Zacks noting rising earnings estimate revisions and arguing that CVX could keep moving higher in the near term. Article Title
• Positive Sentiment: Chevron was highlighted as a long-term blue-chip idea, reinforcing the view that the company remains attractive for dividend and energy investors. Article Title
• Positive Sentiment: Chevron also drew unusually heavy call-option buying, suggesting traders are positioning for more upside in the near term. Article Title
• Positive Sentiment: Chevron agreed to sell a stake in its Asia-Pacific refining business to Japan’s Eneos for $2.2 billion, a move that can help streamline operations and raise cash. Article Title
• Neutral Sentiment: Several articles framed Chevron as a stock to watch or a “hold” at current levels, which does not point to a major fundamental surprise but helps explain continued investor focus. Article Title
• Neutral Sentiment: Coverage around Berkshire Hathaway trimming its Chevron stake created headlines, but the broader message was that Berkshire still appears committed to the company despite the sale. Article Title
• Negative Sentiment: Buffett-related reports that Berkshire Hathaway sold the largest chunk of Chevron in its Q1 stock trimming campaign may create some pressure, since investors often read Berkshire’s moves as a cautionary signal. Article Title

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CVX shares. The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. Morgan Stanley raised their price target on shares of Chevron from $174.00 to $212.00 and gave the company an “overweight” rating in a report on Friday, March 27th. JPMorgan Chase & Co. upgraded shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price objective for the company in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a report on Wednesday, January 21st. Finally, TD Cowen increased their price objective on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $204.13.

About Chevron

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.