265,948 Shares in Chevron Corporation $CVX Acquired by Ieq Capital LLC

Ieq Capital LLC bought a new stake in Chevron Corporation (NYSE:CVX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 265,948 shares of the oil and gas company’s stock, valued at approximately $44,084,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Chevron during the second quarter worth $25,663,729,000. Norges Bank purchased a new stake in shares of Chevron in the 4th quarter valued at $3,727,586,000. Bank of New York Mellon Corp purchased a new stake in shares of Chevron in the 2nd quarter valued at $2,378,114,000. State Street Corp lifted its stake in Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after acquiring an additional 12,789,399 shares in the last quarter. Finally, Berkshire Hathaway Inc lifted its stake in Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after acquiring an additional 8,091,570 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CVX. Wall Street Zen raised Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Dbs Bank raised shares of Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a research note on Tuesday, May 5th. Piper Sandler began coverage on shares of Chevron in a report on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 price objective for the company. Finally, Bank of America upped their target price on shares of Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Twenty investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average price target of $207.48.

Chevron News Summary

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

Chevron Trading Down 0.3%

CVX opened at $205.25 on Friday. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The stock has a market capitalization of $405.53 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 0.62 and a beta of 0.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The business has a fifty day moving average price of $185.03 and a 200 day moving average price of $188.07.

Chevron (NYSE:CVX) last issued its quarterly 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. The company had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.Chevron’s revenue was up 57.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.77 EPS. Sell-side analysts expect that Chevron Corporation will post 16.17 earnings per share for the current fiscal 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 paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio is presently 68.26%.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 317,100 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the completion of the transaction, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. The trade was a 92.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Hess sold 100,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the completion of the sale, the director directly owned 178,045 shares in the company, valued at approximately $34,587,021.70. This represents a 35.97% 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 over the last three months. 0.56% of the stock is currently owned by corporate insiders.

Chevron 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.