BTG Pactual Asset Management US LLC Has $4.81 Million Stock Holdings in Chevron Corporation $CVX

BTG Pactual Asset Management US LLC lifted its holdings in Chevron Corporation (NYSE:CVX) by 36.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 29,004 shares of the oil and gas company’s stock after purchasing an additional 7,753 shares during the quarter. BTG Pactual Asset Management US LLC’s holdings in Chevron were worth $4,808,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. United Bank raised its stake in shares of Chevron by 7.7% in the second quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after acquiring an additional 796 shares during the last quarter. Schnieders Capital Management LLC. grew its stake in shares of Chevron by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock valued at $7,280,000 after purchasing an additional 4,214 shares during the last quarter. BNP Paribas increased its holdings in shares of Chevron by 76.4% in the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 191 shares in the last quarter. Osterweis Capital Management Inc. increased its holdings in shares of Chevron by 678.9% in the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock valued at $195,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised its position in Chevron by 3.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after purchasing an additional 553 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In other news, insider R. Hewitt Pate sold 2,470 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total value of $506,621.70. Following the completion of the sale, the insider directly owned 10,794 shares of the company’s stock, valued at $2,213,957.34. This represents a 18.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 710,665 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the sale, the director owned 363,711 shares in the company, valued at $70,596,305.10. This represents a 66.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,152,582 shares of company stock valued at $225,853,661 over the last 90 days. 0.56% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CVX. Piper Sandler initiated coverage on Chevron in a research report on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 price objective on the stock. Barclays dropped their target price on Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a research report on Monday, August 17th. Bank of America lifted their price objective on Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Sanford C. Bernstein boosted their price objective on Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Finally, Jefferies Financial Group restated a “buy” rating and set a $216.00 target price on shares of Chevron in a research report on Friday, July 10th. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $207.48.

Chevron Stock Performance

CVX stock opened at $202.04 on Monday. The business’s fifty day moving average is $187.44 and its 200-day moving average is $188.90. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The company has a market cap of $399.18 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. The business had revenue of $67.20 billion during the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The firm’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.77 earnings per share. Equities research analysts forecast that Chevron Corporation will post 16.24 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.5%. Chevron’s dividend payout ratio (DPR) is 68.26%.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is reportedly nearing a deal to migrate all of its Venezuelan joint ventures into a new energy framework, potentially allowing greater operational control and key oilfield expansions. The company already accounts for roughly one-quarter of Venezuela’s oil production. Reuters: Chevron to complete deal in Venezuela to migrate, expand oil projects
• Positive Sentiment: Reports indicate Chevron and oil-services company Halliburton are close to agreements to invest billions of dollars in Venezuelan fields. For Chevron, the opportunity could create a long-term production-growth platform and strengthen its position if Venezuela moves further away from OPEC restrictions. Wall Street Journal: Chevron, Other U.S. Firms Near Deal to Invest Billions in Venezuelan Oil Fields
• Neutral Sentiment: Analyst-oriented coverage is comparing Chevron’s performance with TotalEnergies, while other reports highlight Chevron’s investments in nuclear-fusion technology. Fusion could eventually diversify the company beyond hydrocarbons, but the projects remain experimental and are unlikely to materially affect near-term earnings. Yahoo Finance: What Does Chevron Want From Its Nuclear Fusion Push?
• Negative Sentiment: Venezuelan opposition groups have criticized reports that U.S. companies could receive a large stake in the country’s energy industry. Political resistance, sanctions or regulatory uncertainty could delay the agreement, raise investment costs or limit the expected benefits. The Guardian: Venezuelan opposition reacts to potential U.S. oil stake
• Negative Sentiment: Dividend-focused coverage notes that Chevron’s payout remains exposed to commodity-price cycles. Although the dividend is supported by the company’s scale and balance sheet, weaker oil prices or heavy Venezuelan investment requirements could pressure future cash-flow flexibility. 247WallSt: Chevron or PepsiCo: Whose Dividend Is Standing on Thinner Ice?

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.