Core Capital Management & Research inc. Buys Shares of 15,327 Chevron Corporation $CVX

Core Capital Management & Research inc. purchased a new stake in Chevron Corporation (NYSE:CVX) during the second quarter, Holdings Channel.com reports. The firm purchased 15,327 shares of the oil and gas company’s stock, valued at approximately $2,541,000. Chevron comprises 1.3% of Core Capital Management & Research inc.’s portfolio, making the stock its 29th biggest position.

Other large investors have also recently made changes to their positions in the company. Midwest Capital Advisors LLC bought a new position in Chevron in the first quarter worth about $25,000. Core Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter worth approximately $26,000. Phillip James Consulting Co. bought a new position in shares of Chevron during the 4th quarter worth approximately $26,000. Basso Capital Management L.P. bought a new position in shares of Chevron during the 4th quarter worth approximately $27,000. Finally, Karpus Management Inc. purchased a new stake in Chevron during the fourth quarter valued at approximately $27,000. 72.42% of the stock is owned by institutional investors.

Chevron Price Performance

Shares of CVX opened at $213.69 on Thursday. The firm has a market capitalization of $422.20 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 0.62 and a beta of 0.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $215.28. The company’s fifty day moving average price is $193.75 and its 200-day moving average price is $190.40.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same quarter last year, the business posted $1.77 EPS. The firm’s quarterly revenue was up 57.4% on a year-over-year basis. On average, equities research analysts predict that Chevron Corporation will post 16.51 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.3%. Chevron’s payout ratio is 68.26%.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Brent crude rose above $100 per barrel and WTI topped $95 amid escalating Middle East tensions. Higher oil prices can support Chevron’s upstream revenue, earnings and cash flow. Comparing Energy ETFs: Positioning Portfolios as Oil Hits $100
• Positive Sentiment: Chevron plans to double its Venezuelan oil rigs as part of a five-year, roughly $7 billion investment program, targeting production of up to 600,000 barrels per day by 2031. The expansion offers significant long-term volume growth if political, regulatory and operating conditions cooperate. Chevron to double oil rigs in Venezuela as part of growth plan
• Positive Sentiment: Chief Financial Officer Eimear Bonner emphasized Chevron’s scale, cost-efficiency efforts in U.S. shale and global expansion. Investors may view these initiatives, along with Hess-related synergies and strong free cash flow, as evidence of greater financial flexibility. Chevron CFO Says Oil Giant Is Bigger, Better and Stronger Than We’ve Ever Been
• Positive Sentiment: Chevron remains attractive to income-oriented investors because of its scale, balance-sheet strength and shareholder returns, particularly while energy prices are elevated. Oil Prices Are Climbing, Yet These 3 Energy Stocks Yield 3%+

Insider Transactions at Chevron

In related news, Director John Hess sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total value of $19,426,000.00. Following the sale, the director owned 178,045 shares in the company, valued at $34,587,021.70. This represents a 35.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew Walz sold 16,800 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the transaction, the insider owned 14 shares in the company, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,152,582 shares of company stock worth $225,853,661. 0.56% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on CVX. BMO Capital Markets lifted their price target on shares of Chevron from $210.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, September 3rd. Wolfe Research upgraded Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a report on Thursday, July 2nd. Mizuho set a $224.00 price objective on Chevron in a research report on Monday, August 3rd. Weiss Ratings upgraded Chevron from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Finally, Piper Sandler upped their target price on Chevron from $207.00 to $243.00 and gave the company an “overweight” rating in a research report on Thursday, September 3rd. Twenty equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $211.35.

About Chevron

Chevron Corporation is an integrated energy company engaged in the exploration, production, transportation and sale of crude oil and natural gas. The company also manufactures and markets transportation fuels, lubricants, petrochemicals and additives through operations and brands that include Chevron, Texaco and Caltex.

Chevron’s upstream activities include oil and natural gas exploration and production, while its downstream business includes refining, fuel marketing, transportation and related energy services.