Chevron Corporation $CVX is Inspire Trust Co. N.A.’s 10th Largest Position

Inspire Trust Co. N.A. lifted its position in shares of Chevron Corporation (NYSE:CVX) by 14.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,500 shares of the oil and gas company’s stock after purchasing an additional 9,000 shares during the period. Chevron accounts for approximately 1.8% of Inspire Trust Co. N.A.’s portfolio, making the stock its 10th largest position. Inspire Trust Co. N.A.’s holdings in Chevron were worth $11,202,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Strategic Wealth Advisors LLC purchased a new stake in shares of Chevron during the fourth quarter worth about $33,000. Daytona Street Capital LLC purchased a new stake in shares of Chevron during the fourth quarter worth about $44,000. Maseco LLP purchased a new stake in shares of Chevron during the fourth quarter worth about $49,000. Turning Point Benefit Group Inc. purchased a new stake in shares of Chevron during the third quarter worth about $49,000. Finally, High Point Wealth Management LLC purchased a new stake in shares of Chevron during the fourth quarter worth about $53,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, Vice Chairman Mark A. Nelson sold 139,600 shares of the firm’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 transaction, the insider owned 11,337 shares of the company’s stock, valued at approximately $2,130,449.04. This trade represents a 92.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction that occurred 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 directly owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,144,224 shares of company stock valued at $218,075,038. 0.56% of the stock is currently owned by company insiders.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron CEO Mike Wirth said oil prices could rise further if Middle East tensions continue to disrupt supply, with the Strait of Hormuz blockade reducing global barrels and tightening market “shock absorbers.” Higher oil prices typically improve upstream earnings for Chevron. Chevron CEO Wirth warns oil prices likely to rise as Iran war hits supplies
• Positive Sentiment: Chevron filed to take control of an offshore Greek gas block, expanding its Mediterranean footprint and adding another potential long-term gas growth avenue. Chevron files request to acquire offshore Greek block, energy ministry says
• Positive Sentiment: Chevron also highlighted stronger gas demand linked to data-center power needs, reinforcing the company’s outlook for natural gas as a key growth driver. Chevron Highlights Stronger Coal Consumption Outlook
• Neutral Sentiment: Chevron shareholders rejected a proposal to separate the board chair and CEO roles, which removes one governance overhang but is unlikely to be a major near-term stock driver. Chevron shareholders reject proposal that requires independent board chair separate from CEO role
• Neutral Sentiment: A proposed U.S. bill to temporarily cut fuel taxes could affect gasoline demand and pricing dynamics for Chevron, but it is only a proposal and not yet law. New Bill: Representative Anna Paulina Luna introduces H.R. 8795: American Families Gas Tax Relief Act

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Mizuho increased their price target on shares of Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday. Bank of America increased their price target on shares of Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. TD Cowen increased their target price on Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Finally, Melius Research raised Chevron from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $205.70.

Chevron Stock Up 0.5%

Shares of NYSE:CVX opened at $183.24 on Friday. Chevron Corporation has a 52-week low of $135.21 and a 52-week high of $214.71. The firm has a market capitalization of $364.93 billion, a P/E ratio of 31.76, a P/E/G ratio of 0.60 and a beta of 0.51. The stock has a 50 day moving average price of $192.60 and a 200-day moving average price of $175.64. 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 announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the prior year, the company earned $2.18 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. Chevron’s dividend payout ratio (DPR) is currently 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.