Chevron Corporation

🇺🇸New York Stock Exchange
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Chevron Corporation stock analysis CVX overview
Bullish +65

Axxcess Wealth Management LLC Boosts Holdings in Chevron Corporation ...

📈 Axxcess Wealth Management LLC boosted its Chevron holdings by 8.4% to 70,394 shares valued at $10.729 million in Q4.

🏦 Multiple new institutional investors including Core Wealth Advisors and Karpus Management initiated positions worth approximately $26,000-$33,000 each.

📊 Hedge funds and other institutional investors collectively own 72.42% of Chevron's outstanding stock.

💰 Chevron paid a quarterly dividend of $1.78 per share on June 10th with an annualized yield of 4.1%.

🔼 Wells Fargo raised its price target to $222.00 and Citigroup increased its target to $235.00 in recent research notes.

📉 Director John B. Hess sold 380,000 shares for $73.4 million, reducing his personal stake by 57.75%.

📉 Insider R. Hewitt Pate sold 40,200 shares for $8.6 million, decreasing ownership by 82.31%.

💸 Total insider sales reached $118 million over the last 90 days with corporate insiders owning only 0.56% of stock.

📈 The company trades at a PEG ratio of 0.58 and has a market capitalization of $345.56 billion.

🎯 The consensus analyst price target is $205.70 with eighteen analysts rating the stock as a buy.

Bullish Signals
  • Axxcess Wealth Management LLC increased its stake by 8.4% in Q4, signaling institutional confidence in the company's prospects.
  • Multiple new investors including Core Wealth Advisors and Karpus Management initiated fresh positions in Chevron during the fourth quarter.
  • Wells Fargo raised its price objective from $204.00 to $222.00 while maintaining an overweight rating on the stock.
  • Citigroup boosted its price target from $210.00 to $235.00 and reaffirmed a buy rating for Chevron Corporation.
  • Goldman Sachs issued a buy rating with a specific price target of $216.00 in its latest research report.
  • Morgan Stanley raised its target price from $212.00 to $214.00 and assigned an overweight rating to the shares.
  • Chevron offers a substantial dividend yield of 4.1% based on the recent quarterly payment of $1.78 per share.
  • The company maintains a low PEG ratio of 0.58, suggesting potential undervaluation relative to its earnings growth expectations.
Risk Factors
  • Director John B. Hess sold 380,000 shares for $73.4 million, representing a significant 57.75% reduction in his personal holdings.
  • Insider R. Hewitt Pate reduced his ownership by 82.31% through the sale of 40,200 shares valued at $8.6 million.
  • Corporate insiders collectively sold $118 million worth of stock over the last 90 days, leaving them with only 0.56% ownership.
  • The company's payout ratio is currently 123.40%, indicating that dividends are being paid from earnings plus retained earnings or reserves.
Full Analysis
Axxcess Wealth Management LLC increased its position in Chevron Corporation (NYSE: CVX) by 8.4% during the fourth quarter, purchasing an additional 5,430 shares to hold a total of 70,394 shares valued at $10.729 million according to SEC filings. Several other institutional investors, including Core Wealth Advisors LLC and Karpus Management Inc., also established new stakes in the company during the same period, while hedge funds collectively own approximately 72.42% of the outstanding stock. Analyst sentiment remains broadly positive with major firms raising price targets and maintaining buy ratings. Wells Fargo raised its objective to $222.00, Citigroup increased its target to $235.00, and Goldman Sachs set a $216.00 target. The consensus price target stands at $205.70 based on 18 buy ratings versus six holds and one sell rating from eighteen analysts covering the stock. Chevron recently declared a quarterly dividend of $1.78 per share, paid on June 10th to shareholders of record as of May 19th, representing an annualized yield of 4.1%. However, insider activity shows significant selling pressure, with Director John B. Hess reducing his position by 57.75% and insider R. Hewitt Pate cutting holdings by over 82%, resulting in a total of $118 million in insider sales over the last 90 days.