Formidable Asset Management LLC Reduces Stock Position in Chevron Corporation $CVX

Formidable Asset Management LLC lessened its stake in Chevron Corporation (NYSE:CVX) by 13.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 22,510 shares of the oil and gas company’s stock after selling 3,548 shares during the period. Chevron makes up about 0.7% of Formidable Asset Management LLC’s investment portfolio, making the stock its 26th biggest position. Formidable Asset Management LLC’s holdings in Chevron were worth $4,657,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Phillip James Consulting Co. purchased a new stake in Chevron in the 4th quarter valued at $26,000. Core Wealth Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter worth $26,000. Karpus Management Inc. acquired a new stake in shares of Chevron in the 4th quarter worth $27,000. Basso Capital Management L.P. purchased a new position in shares of Chevron during the 4th quarter worth $27,000. Finally, Quattro Advisors LLC purchased a new position in shares of Chevron during the 4th quarter worth $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction on 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 sale, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CVX shares. Mizuho upped their price objective on shares of Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Citigroup raised their price objective on shares of Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Bank of America lifted their target price 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 boosted their target price on shares of Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a report on Friday, May 8th. Finally, UBS Group reissued a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. Eighteen 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.52.

Chevron Trading Down 1.4%

NYSE CVX opened at $168.61 on Tuesday. 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 $335.81 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 0.56 and a beta of 0.48. The firm has a 50 day simple moving average of $184.71 and a 200-day simple moving average of $180.14. Chevron Corporation has a one year low of $142.40 and a one year high of $214.71.

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 firm had revenue of $47.56 billion for 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 firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.18 EPS. Equities research analysts anticipate that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 4.2%. Chevron’s payout ratio is 123.40%.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expanding its data-center power strategy beyond Project Kilby, using natural gas to target rising AI-related electricity demand and potentially opening a new growth avenue. Chevron Expands Data Center Power Strategy Beyond Project Kilby
• Positive Sentiment: Chevron secured Texas Pacific Land support for Project Kilby, a large joint initiative with Microsoft, reinforcing execution on a potentially meaningful infrastructure and power project. Chevron Corporation (CVX) Secures Texas Pacific Land Support on Microsoft’s Project Kilby
• Positive Sentiment: Morgan Stanley kept an overweight rating on Chevron while trimming its price target only slightly to $210, signaling continued analyst confidence in upside from current levels. Benzinga report on Morgan Stanley price target cut
• Neutral Sentiment: Several recent articles highlight Chevron’s push deeper into offshore energy and its broader role in a volatile oil market, but these are more about strategy and sector positioning than a clear near-term catalyst. Chevron (NYSE:CVX) Pushes Deeper Into Offshore Energy
• Neutral Sentiment: Comparisons with Occidental Petroleum and commentary on Chevron’s valuation suggest investors are still weighing CVX’s upside versus peers, but no decisive new fundamental shift was reported. Occidental Petroleum or Chevron: Which Oil Stock Offers More Upside?
• Negative Sentiment: Chevron is being hurt by weaker crude prices, which pressure near-term oil and gas earnings expectations and weigh on sentiment across the sector. Why Is Chevron (NYSE:CVX) in Focus As Crude Slips?
• Negative Sentiment: Coverage noting that oil prices have fallen back toward pre-Iran-war levels suggests the broader commodity backdrop is less supportive for CVX in the near term. Energy ETFs to Buy as Oil Price Slides to Pre-Iran War Level

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.