Quantbot Technologies LP Invests $16.47 Million in Chevron Corporation $CVX

Quantbot Technologies LP bought a new position in Chevron Corporation (NYSE:CVX) during the 2nd quarter, Holdings Channel reports. The firm bought 99,373 shares of the oil and gas company’s stock, valued at approximately $16,472,000. Chevron comprises approximately 0.6% of Quantbot Technologies LP’s portfolio, making the stock its 6th biggest holding.

Other large investors have also bought and sold shares of the company. Blue Capital Inc. acquired a new stake in Chevron during the 2nd quarter worth $786,000. OneAscent Wealth Management LLC acquired a new position in shares of Chevron in the 2nd quarter valued at $973,000. Global Retirement Partners LLC acquired a new position in shares of Chevron in the 2nd quarter valued at $14,276,000. Indivisible Partners acquired a new position in shares of Chevron in the 4th quarter valued at $1,923,000. Finally, Janney Montgomery Scott LLC boosted its position in shares of Chevron by 6.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock worth $258,853,000 after purchasing an additional 79,439 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider R. Hewitt Pate sold 2,470 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the completion of the transaction, the insider owned 10,794 shares in the company, valued at $2,213,957.34. This represents a 18.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the sale, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at $5,273,701.68. This represents a 92.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,152,582 shares of company stock valued at $225,853,661 in the last quarter. 0.56% of the stock is owned by company insiders.

Chevron Price Performance

CVX opened at $205.25 on Friday. The stock has a market cap of $405.53 billion, a P/E ratio of 19.68, a P/E/G ratio of 0.61 and a beta of 0.49. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. 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 fifty day simple moving average of $185.03 and a 200 day simple moving average of $188.07.

Chevron (NYSE:CVX) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share 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 firm had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same period in the previous year, the company posted $1.77 earnings per share. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. On average, research analysts expect that Chevron Corporation will post 16.17 EPS for the current year.

Chevron Dividend Announcement

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

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Brent crude recently approached $94–$95 per barrel amid renewed Middle East tensions and concerns about Strait of Hormuz disruptions. Sustained higher oil prices typically benefit Chevron’s upstream revenue, margins and cash flow. Chevron jumps as Brent crude approaches $94
• Positive Sentiment: Chevron confirmed an oil and gas condensate discovery at the 105-4X well in offshore Angola. Its proximity to existing facilities could allow a lower-cost tie-back, creating a potential source of future production. Chevron Angola discovery analysis
• Positive Sentiment: Chevron’s $1.78 quarterly dividend, equal to $7.12 annually and an approximately 3.5% yield, reinforces its appeal to income investors. The company also recently exceeded quarterly earnings and revenue expectations. Chevron raises dividend
• Neutral Sentiment: Analysis comparing Chevron with Exxon Mobil highlights differing long-term strategies, including Chevron’s continued emphasis on oil and gas. The approach could benefit from strong commodity prices but leaves CVX more exposed to future oil-demand and price cycles. Chevron versus Exxon Mobil analysis
• Negative Sentiment: Iraq plans to more than double its oil output over the next six years. If achieved, the added supply could pressure global crude prices and reduce the earnings benefit Chevron receives from today’s elevated prices. Iraq oil output and Chevron
• Negative Sentiment: Two Chevron insiders sold shares recently: Andrew Benjamin Walz sold 16,800 shares, while R. Hewitt Pate sold 2,470 shares. Although such transactions may reflect personal financial planning, they can create a modest sentiment overhang. Chevron insider sale report
• Negative Sentiment: A separate analysis says concerns remain centered on Chevron, including issues surrounding its Hess Midstream exposure and broader execution risks. The report may temper enthusiasm after CVX’s recent advance. Hess Midstream: The Issue Remains With Chevron

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CVX shares. Barclays decreased their price objective on Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a research note on Monday, August 17th. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 target price on shares of Chevron in a research note on Tuesday, May 5th. UBS Group restated a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Zacks Research cut Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Mizuho set a $224.00 price target on shares of Chevron in a research report on Monday, August 3rd. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $207.48.

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.