Operose Advisors LLC Buys Shares of 6,720 Chevron Corporation $CVX

Operose Advisors LLC bought a new position in Chevron Corporation (NYSE:CVX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,720 shares of the oil and gas company’s stock, valued at approximately $1,114,000.

Several other institutional investors have also made changes to their positions in the company. HB Wealth Management LLC grew its stake in shares of Chevron by 2.9% in the 2nd quarter. HB Wealth Management LLC now owns 192,692 shares of the oil and gas company’s stock valued at $31,941,000 after buying an additional 5,352 shares in the last quarter. Nilsine Partners LLC raised its position in Chevron by 0.7% during the second quarter. Nilsine Partners LLC now owns 19,569 shares of the oil and gas company’s stock valued at $3,244,000 after acquiring an additional 140 shares in the last quarter. Saudi Central Bank raised its position in Chevron by 83.0% during the second quarter. Saudi Central Bank now owns 129,202 shares of the oil and gas company’s stock valued at $21,417,000 after acquiring an additional 58,597 shares in the last quarter. Fortitude Advisory Group L.L.C. lifted its stake in Chevron by 4.8% in the second quarter. Fortitude Advisory Group L.L.C. now owns 4,730 shares of the oil and gas company’s stock valued at $784,000 after acquiring an additional 217 shares during the last quarter. Finally, Angeles Wealth Management LLC lifted its stake in Chevron by 3.1% in the second quarter. Angeles Wealth Management LLC now owns 16,272 shares of the oil and gas company’s stock valued at $2,697,000 after acquiring an additional 487 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chevron

In other Chevron news, insider Andrew Walz sold 16,800 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the sale, the insider directly owned 14 shares in the company, valued at $2,814.84. This trade represents a 99.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John B. Hess sold 710,665 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the transaction, the director owned 363,711 shares in the company, valued at approximately $70,596,305.10. The trade was a 66.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,152,582 shares of company stock valued at $225,853,661 in the last 90 days. 0.56% of the stock is owned by company insiders.

Chevron Price Performance

NYSE CVX opened at $208.48 on Friday. The stock has a 50-day simple moving average of $191.10 and a 200 day simple moving average of $189.77. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The stock has a market capitalization of $411.91 billion, a PE ratio of 19.99, a P/E/G ratio of 0.62 and a beta of 0.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $62.72 billion. During the same period in the previous year, the business posted $1.77 EPS. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. Research analysts anticipate that Chevron Corporation will post 16.51 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given 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 yield of 3.4%. Chevron’s payout ratio is 68.26%.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent research reports. TD Cowen boosted their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Barclays reduced their price objective on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a research note on Monday, August 17th. BMO Capital Markets upped their price objective on shares of Chevron from $210.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday. Mizuho set a $224.00 target price on shares of Chevron in a research report on Monday, August 3rd. Finally, Dbs Bank upgraded Chevron to a “moderate buy” rating in a report on Thursday, August 6th. Twenty investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $211.35.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s planned investment of more than $7 billion in Venezuela is expected to expand production to approximately 600,000 barrels per day over five years. Investors view the Orinoco Belt opportunity as a potential source of significant production growth and attractive economics. Chevron Commits $7 Billion to Venezuela to Double Production
• Positive Sentiment: Analysts and fund managers remain constructive on Chevron, citing its scale, strong fundamentals, production growth following the Hess acquisition, dividend record and long-term exposure to energy demand. Rising crude prices above $90 per barrel have also supported sentiment toward major oil companies. Why Gabelli Remains Bullish on Chevron
• Positive Sentiment: A preliminary agreement covering Ghana’s South Deepwater Tano Cape Three Points block could provide Chevron with another international growth option, although commercial terms and ownership details have not been finalized. Chevron and Shell Sign Preliminary Ghana Agreement
• Neutral Sentiment: Chevron’s dividend remains a key attraction, with 39 consecutive years of increases. However, its sustainability would be tested if oil prices fall materially from current elevated levels. Chevron’s Dividend and Oil Price Risk
• Negative Sentiment: Investors remain concerned that the Venezuela strategy will require substantial capital, face operational challenges and carry elevated political and execution risk. Critics also question whether the expansion can deliver its projected returns. Capital Requirements and Operational Challenges
• Negative Sentiment: Valuation concerns have become more important after the rally: Chevron is trading near the upper end of its recent range, while reported insider activity has consisted of sales rather than purchases. A decline in oil prices could further pressure earnings and the stock.

Chevron Company 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.