Worth Asset Management LLC Sells 3,024 Shares of Chevron Corporation $CVX

Worth Asset Management LLC decreased its holdings in Chevron Corporation (NYSE:CVX) by 64.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,664 shares of the oil and gas company’s stock after selling 3,024 shares during the quarter. Worth Asset Management LLC’s holdings in Chevron were worth $276,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Midwest Capital Advisors LLC bought a new stake in shares of Chevron during the 1st quarter valued at about $25,000. Main Street Group LTD bought a new position in Chevron in the first quarter worth about $28,000. Phillip James Consulting Co. bought a new position in Chevron in the fourth quarter worth about $26,000. Core Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter worth about $26,000. Finally, Karpus Management Inc. purchased a new stake in Chevron in the fourth quarter worth about $27,000. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 710,665 shares of Chevron stock in a transaction on 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael K. Wirth sold 5,547 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total value of $1,037,289.00. Following the completion of the sale, the chief executive officer directly owned 26,308 shares in the company, valued at $4,919,596. This trade represents a 17.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,196,212 shares of company stock valued at $231,819,366 in the last quarter. 0.56% of the stock is owned by company insiders.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reported a sharp earnings rebound, with quarterly net income reaching $12.1 billion versus $2.5 billion a year earlier. The company also exceeded earnings and revenue expectations, benefiting from higher energy prices and Middle Eastern supply disruptions. Chevron Turned $3.1 Billion Loss Into A Gain
• Positive Sentiment: Analysts remain constructive, with TD Cowen forecasting meaningful appreciation potential. Coverage also highlights record production, debt reduction and Chevron’s long-term power agreement with Microsoft as support for the investment case. TD Cowen Forecasts Strong Price Appreciation for Chevron
• Positive Sentiment: Chevron’s dividend, scale, financial strength and resilient operations continue to attract income-focused investors despite volatile oil prices. The company is also expanding its North American base-oils distribution network, potentially supporting downstream growth and product diversification. Beyond Oil Prices: The Case for 3 Dividend-Paying Energy Giants
• Neutral Sentiment: Conflict-related uncertainty in the Gulf is keeping energy options premiums elevated and creating trading opportunities around major oil companies. The same volatility could support Chevron’s cash flow, but it also increases commodity and geopolitical risk. Gulf Uncertainty Is Creating a Win-Win Strategy
• Negative Sentiment: Director John B. Hess sold 810,665 shares in disclosed transactions, reducing his holdings substantially. CEO Michael Wirth separately sold 5,547 shares, or 17.41% of his direct position. Large insider sales may pressure sentiment, although they do not necessarily indicate deteriorating business fundamentals. Chevron Director Insider Sale Filing

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 target price on shares of Chevron in a report on Wednesday, May 6th. Morgan Stanley lowered their target price on Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Jefferies Financial Group restated a “buy” rating and set a $216.00 price target on shares of Chevron in a research report on Friday, July 10th. Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Finally, Mizuho set a $224.00 price objective on Chevron in a report on Monday, August 3rd. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.48.

Chevron Price Performance

Shares of CVX opened at $186.42 on Friday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The firm’s 50-day simple moving average is $182.37 and its two-hundred day simple moving average is $185.80. The stock has a market cap of $371.28 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 0.57 and a beta of 0.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.14%. The firm had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same period last year, the business earned $1.77 earnings per share. The business’s revenue was up 57.4% on a year-over-year basis. Analysts anticipate that Chevron Corporation will post 15.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed 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. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is 68.26%.

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.