SVB Wealth LLC Has $10.01 Million Stock Holdings in Chevron Corporation $CVX

SVB Wealth LLC decreased its holdings in shares of Chevron Corporation (NYSE:CVX) by 5.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,376 shares of the oil and gas company’s stock after selling 2,915 shares during the quarter. SVB Wealth LLC’s holdings in Chevron were worth $10,009,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc lifted its holdings in shares of Chevron by 6.9% during the first quarter. Bell Investment Advisors Inc now owns 7,938 shares of the oil and gas company’s stock worth $1,642,000 after buying an additional 511 shares during the last quarter. Anchyra Partners LLC boosted its position in shares of Chevron by 17.9% in the first quarter. Anchyra Partners LLC now owns 7,548 shares of the oil and gas company’s stock valued at $1,562,000 after acquiring an additional 1,146 shares during the period. Summit Wealth Partners LLC grew its stake in shares of Chevron by 177.0% in the first quarter. Summit Wealth Partners LLC now owns 3,795 shares of the oil and gas company’s stock worth $785,000 after acquiring an additional 2,425 shares during the last quarter. Gibson Capital LLC increased its position in Chevron by 15.1% during the first quarter. Gibson Capital LLC now owns 3,848 shares of the oil and gas company’s stock worth $796,000 after acquiring an additional 504 shares during the period. Finally, Webster Bank N. A. increased its position in Chevron by 2.6% during the first quarter. Webster Bank N. A. now owns 22,949 shares of the oil and gas company’s stock worth $4,748,000 after acquiring an additional 579 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.6%

Shares of CVX stock opened at $176.19 on Wednesday. The firm has a fifty day moving average of $186.07 and a 200-day moving average of $179.55. The stock has a market cap of $350.90 billion, a price-to-earnings ratio of 30.54, a P/E/G ratio of 0.57 and a beta of 0.48. Chevron Corporation has a 52-week low of $142.40 and a 52-week 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.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.18 earnings per share. On average, equities research analysts forecast that Chevron Corporation will post 15.88 earnings per share for the current fiscal 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 paid a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 4.0%. Chevron’s payout ratio is currently 123.40%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. TD Cowen increased their price target on shares of Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a report on Friday, May 8th. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a report on Friday, March 20th. Mizuho increased their target price on shares of Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $205.70.

Insiders Place Their Bets

In other news, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the sale, 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 position. 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 company’s stock in a transaction dated Wednesday, May 20th. The stock was 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 directly owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 615,200 shares of company stock worth $118,022,760 over the last quarter. Company insiders own 0.56% of the company’s stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s Microsoft deal could create a new long-duration revenue source tied to AI data center growth, improving cash flow stability. Reuters article
• Positive Sentiment: The project may help Chevron monetize excess Permian gas that has faced pipeline bottlenecks and weak regional pricing. Business Wire article
• Neutral Sentiment: Several analysts and commentary pieces said lower crude prices are still a headwind for energy stocks, which may limit upside if oil weakness continues. Kalkine Media article
• Negative Sentiment: One article argued Chevron could be overvalued if crude keeps slipping, noting downside risk versus its recent trading levels. 24/7 Wall St. article

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.