Zions Bancorporation National Association UT Sells 3,371 Shares of Chevron Corporation $CVX

Zions Bancorporation National Association UT lessened its position in Chevron Corporation (NYSE:CVX) by 5.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 55,765 shares of the oil and gas company’s stock after selling 3,371 shares during the period. Zions Bancorporation National Association UT’s holdings in Chevron were worth $8,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Core Wealth Advisors LLC bought a new position in shares of Chevron in the 4th quarter valued at about $26,000. Strategic Wealth Advisors LLC bought a new position in shares of Chevron in the 4th quarter valued at about $33,000. Daytona Street Capital LLC bought a new position in shares of Chevron in the 4th quarter valued at about $44,000. Maseco LLP bought a new position in shares of Chevron in the 4th quarter valued at about $49,000. Finally, Turning Point Benefit Group Inc. bought a new position in shares of Chevron in the 3rd quarter valued at about $49,000. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction dated 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 completion of the sale, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the sale, the insider directly owned 8,638 shares of the company’s stock, valued at $1,842,485.40. The trade was a 82.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 615,200 shares of company stock valued at $118,022,760 in the last ninety days. 0.56% of the stock is currently owned by insiders.

Chevron Stock Performance

Shares of CVX stock opened at $189.89 on Thursday. The company has a market capitalization of $378.19 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 0.62 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The company has a 50-day simple moving average of $189.38 and a 200 day simple moving average of $177.75. Chevron Corporation has a 52 week low of $142.40 and a 52 week high of $214.71.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.18 EPS. On average, sell-side analysts predict that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. Chevron’s payout ratio is presently 123.40%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Erste Group Bank raised its FY2027 EPS estimate for Chevron, suggesting improved profit expectations and reinforcing the view that the company can deliver stronger earnings over time.
• Positive Sentiment: Chevron was highlighted in articles noting that elevated geopolitical risk in the Middle East has helped support oil prices and the economics of large, low-cost projects like Guyana, which can benefit Chevron’s upstream earnings.
• Positive Sentiment: Reports that Chevron is advancing a major Vaca Muerta shale project in Argentina and may help unlock a $3 billion natural gas liquids venture point to growth in its international portfolio.
• Positive Sentiment: Several market commentary pieces described Chevron as an attractive dividend and value name, which can draw income-focused buyers and support the stock.
• Neutral Sentiment: Technical analysis commentary suggested bullish momentum is building and that CVX could be approaching a breakout level, but this is not a fundamental catalyst on its own.
• Negative Sentiment: Zacks Research downgraded Chevron from “strong-buy” to “hold,” which may temper enthusiasm even though broader brokerage sentiment remains moderate buy.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. TD Cowen lifted their price objective on shares of Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Sanford C. Bernstein decreased 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 report on Monday, May 11th. Zacks Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday. UBS Group lifted their price objective on shares of Chevron from $218.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Morgan Stanley lifted their price objective on shares of Chevron from $212.00 to $214.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.70.

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.