Valley Wealth Managers Inc. Trims Position in Chevron Corporation $CVX

Valley Wealth Managers Inc. trimmed its position in shares of Chevron Corporation (NYSE:CVX) by 3.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,922 shares of the oil and gas company’s stock after selling 4,329 shares during the period. Chevron accounts for 1.6% of Valley Wealth Managers Inc.’s portfolio, making the stock its 22nd largest holding. Valley Wealth Managers Inc.’s holdings in Chevron were worth $25,019,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Dakota Wealth Management raised its stake in Chevron by 14.9% during the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock valued at $12,690,000 after purchasing an additional 10,822 shares during the period. Clear Trail Advisors LLC bought a new position in Chevron in the 4th quarter worth approximately $10,167,000. Curtis Advisory Group LLC purchased a new stake in Chevron during the 4th quarter valued at approximately $1,381,000. Indivisible Partners purchased a new stake in Chevron during the 4th quarter valued at approximately $1,923,000. Finally, Cypress Wealth Services LLC raised its position in shares of Chevron by 64.0% during the fourth quarter. Cypress Wealth Services LLC now owns 16,591 shares of the oil and gas company’s stock valued at $2,529,000 after buying an additional 6,475 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CVX shares. Weiss Ratings lowered shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Tudor Pickering raised shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price objective for the company in a report on Thursday, April 9th. Zacks Research lowered Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Mizuho raised their price objective on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.83.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of the business’s 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 $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.56% of the stock is owned by insiders.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
• Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
• Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
• Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
• Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

Chevron Trading Up 1.9%

Shares of NYSE CVX opened at $187.39 on Friday. The business’s 50 day moving average is $181.54 and its two-hundred day moving average is $182.44. 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 1-year low of $146.49 and a 1-year high of $214.71. The stock has a market capitalization of $373.21 billion, a P/E ratio of 32.48, a PEG ratio of 0.66 and a beta of 0.50.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion during 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%.The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company earned $2.18 EPS. As a group, research analysts expect that Chevron Corporation will post 14.78 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

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.