Investor s Fiduciary Advisor Network LLC Makes New $2.04 Million Investment in Chevron Corporation $CVX

Investor s Fiduciary Advisor Network LLC acquired a new position in shares of Chevron Corporation (NYSE:CVX) in the 2nd quarter, Holdings Channel reports. The fund acquired 12,338 shares of the oil and gas company’s stock, valued at approximately $2,045,000.

A number of other large investors have also recently made changes to their positions in the stock. Midwest Capital Advisors LLC purchased a new position in Chevron in the 1st quarter worth $25,000. Core Wealth Advisors LLC purchased a new stake in Chevron during the 4th quarter valued at about $26,000. Phillip James Consulting Co. acquired a new position in shares of Chevron in the fourth quarter valued at about $26,000. Basso Capital Management L.P. acquired a new position in shares of Chevron in the fourth quarter valued at about $27,000. Finally, Karpus Management Inc. purchased a new position in shares of Chevron in the fourth quarter worth about $27,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider R. Hewitt Pate sold 2,470 shares of the business’s stock in a transaction 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 directly owned 10,794 shares in the company, valued at $2,213,957.34. The trade was a 18.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 in the company, valued at $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,152,582 shares of company stock valued at $225,853,661. 0.56% of the stock is currently owned by company insiders.

Chevron Stock Down 0.0%

Shares of CVX opened at $205.25 on Monday. Chevron Corporation has a 52 week low of $146.49 and a 52 week 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 market capitalization of $405.53 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 0.61 and a beta of 0.49. The stock’s 50-day moving average price is $185.03 and its 200-day moving average price is $188.17.

Chevron (NYSE:CVX) last posted its 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 firm had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same period last year, the company earned $1.77 earnings per share. Chevron’s revenue for the quarter was up 57.4% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Corporation will post 16.17 EPS for the current year.

Chevron Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CVX shares. Zacks Research lowered Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Morgan Stanley raised their price target on shares of Chevron from $210.00 to $218.00 and gave the stock an “overweight” rating in a research report on Wednesday. Jefferies Financial Group restated a “buy” rating and set a $216.00 price objective on shares of Chevron in a research note on Friday, July 10th. Bank of America upped their price objective on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, TD Cowen increased their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Twenty analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $207.48.

Chevron News Roundup

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 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.