Lombard Odier Asset Management Switzerland SA Decreases Position in Chevron Corporation $CVX

Lombard Odier Asset Management Switzerland SA trimmed its holdings in Chevron Corporation (NYSE:CVX) by 35.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,983 shares of the oil and gas company’s stock after selling 4,876 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in Chevron were worth $1,859,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC acquired a new position in shares of Chevron in the 1st quarter valued at $25,000. Core Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter worth $26,000. Phillip James Consulting Co. purchased a new stake in Chevron in the fourth quarter valued at $26,000. Basso Capital Management L.P. purchased a new stake in Chevron in the fourth quarter valued at $27,000. Finally, Karpus Management Inc. acquired a new position in Chevron in the fourth quarter valued at $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Chevron Trading Down 0.0%

NYSE CVX opened at $194.72 on Monday. The firm’s fifty day moving average is $182.12 and its two-hundred day moving average is $183.97. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. 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 firm has a market cap of $387.80 billion, a PE ratio of 33.75, a P/E/G ratio of 0.65 and a beta of 0.50.

Chevron (NYSE:CVX) last announced its earnings results 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. 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%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.18 earnings per share. Analysts expect that Chevron Corporation will post 15.6 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. Stockholders of record on Tuesday, May 19th were issued a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis 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: Chevron was highlighted as one of the biggest beneficiaries of the recent oil rally, with Brent briefly topping $100 a barrel and integrated oil majors gaining as investors price in tighter global supply. BATL, CVX, XOM Stocks Rise As Brent Crude Tops $100 – Trump Threatens Iran With ‘Major Military Punishment’ After Houthi Attack On Saudi Ships
• Positive Sentiment: Chevron was also singled out as the only “outperform”-rated global oil major in Piper Sandler’s new coverage, reinforcing a relatively favorable analyst view versus peers. Chevron only outperform-rated name among global oil majors initiated at Piper Sandler
• Neutral Sentiment: Recent commentary says Chevron is rallying despite a classic bearish signal, suggesting momentum traders are still buying the stock even after the move in oil. Chevron ignored a classic bearish call: Here’s why stock is rallying
• Neutral Sentiment: Several previews ahead of next week’s earnings note that Chevron is expected to report higher earnings, but one Zacks piece warns the company may not have the ideal setup for a clear beat. Chevron (CVX) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Negative Sentiment: Some analysis cautions that Chevron’s rally could face headwinds if Chinese crude demand weakens, which could limit upside even if oil prices remain elevated. Chevron’s Biggest Stock Rally Since 2022 Faces a China-Sized Problem

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CVX shares. Wells Fargo & Company raised their price objective on Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Piper Sandler initiated coverage on Chevron in a research report on Thursday. They issued an “overweight” rating and a $207.00 target price for the company. Mizuho upped their target price on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Citigroup raised their price target on Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Finally, Morgan Stanley reduced their price objective on Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Nineteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.17.

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.