The Manufacturers Life Insurance Company Buys 31,907 Shares of Chevron Corporation $CVX

The Manufacturers Life Insurance Company increased its stake in Chevron Corporation (NYSE:CVX) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,519,457 shares of the oil and gas company’s stock after acquiring an additional 31,907 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Chevron were worth $251,865,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Capstone Financial Advisors Inc. increased its position in Chevron by 7.7% during the 2nd quarter. Capstone Financial Advisors Inc. now owns 3,891 shares of the oil and gas company’s stock valued at $645,000 after purchasing an additional 277 shares during the period. Tortoise Investment Management LLC increased its position in shares of Chevron by 3.6% during the second quarter. Tortoise Investment Management LLC now owns 2,134 shares of the oil and gas company’s stock worth $354,000 after buying an additional 74 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Chevron by 8.1% in the second quarter. Sequoia Financial Advisors LLC now owns 173,771 shares of the oil and gas company’s stock valued at $28,804,000 after buying an additional 13,053 shares during the period. MCF Advisors LLC boosted its position in Chevron by 1.2% during the second quarter. MCF Advisors LLC now owns 18,888 shares of the oil and gas company’s stock valued at $3,131,000 after acquiring an additional 227 shares during the last quarter. Finally, Archford Capital Strategies LLC boosted its position in Chevron by 1.4% during the second quarter. Archford Capital Strategies LLC now owns 7,896 shares of the oil and gas company’s stock valued at $1,309,000 after acquiring an additional 107 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Chevron news, CEO Michael Wirth sold 317,100 shares of the firm’s 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 transaction, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R. Pate sold 2,470 shares of Chevron stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total transaction of $506,621.70. Following the transaction, the insider directly 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 SEC filing for this sale provides additional information. Insiders have sold a total of 1,152,582 shares of company stock valued at $225,853,661 in the last 90 days. Insiders own 0.56% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $212.84 on Friday. The stock has a market cap of $420.51 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 0.63 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 Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $217.40. The firm’s 50-day simple moving average is $194.62 and its 200 day simple moving average is $190.61.

Chevron (NYSE:CVX) last issued 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 firm had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.77 EPS. As a group, research analysts anticipate that Chevron Corporation will post 16.51 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, August 19th. Chevron’s dividend payout ratio is presently 68.26%.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices support earnings and cash flow. Brent’s move above $100 and toward $110 per barrel is a major tailwind for Chevron’s upstream business. Historical analysis cited by The Motley Fool suggests oil-price spikes of this magnitude have generally benefited Chevron, although buying after a sharp rally carries timing risk. Oil Just Topped $109. Is It Too Late to Buy Chevron (CVX)? History Has a Clear Answer.
• Positive Sentiment: Chevron is being highlighted as a balanced dividend investment. Analysts point to the company’s scale, financial strength and shareholder returns as reasons income-focused investors may prefer CVX over riskier energy producers. This Is the First Oil Dividend Stock I’d Buy in September
• Positive Sentiment: Management is pursuing production growth in Venezuela. Chevron aims to raise Venezuelan output to roughly 600,000 barrels per day by 2031, while also improving U.S. shale efficiency and expanding internationally. The plan could add significant long-term production and cash flow. Chevron CFO Says Oil Giant Is ‘Bigger, Better and Stronger Than We’ve Ever Been’
• Neutral Sentiment: Analyst commentary remains focused on positioning and valuation. Recent coverage compares Chevron with other energy companies and emphasizes its combination of scale, yield and financial resilience as oil prices rise. Analysts Offer Insights on Energy Companies
• Negative Sentiment: Execution and returns on capital remain concerns. Chevron’s production and free cash flow are improving, but return on invested capital is lagging, raising questions about how effectively the company converts its asset base and investment spending into profits. CVX’s Operations & FCF Are Improving: Why Isn’t ROIC Keeping Up?
• Negative Sentiment: Venezuela expansion carries timeline and geopolitical risks. Doubling rigs as part of a proposed $7 billion, five-year investment and reaching the 600,000-barrel target by 2031 may prove difficult because of operational, political and regulatory uncertainty. Chevron Wants 600,000 Barrels a Day From Venezuela by 2031

Analyst Upgrades and Downgrades

CVX has been the topic of several research analyst reports. Sanford C. Bernstein upped their target price on Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Wells Fargo & Company raised their price objective on shares of Chevron from $226.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Morgan Stanley boosted their target price on shares of Chevron from $210.00 to $218.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Weiss Ratings upgraded shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Bank of America increased their price objective on shares of Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Twenty research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.35.

Chevron Company Profile

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.