Callan Family Office LLC Invests $14.98 Million in Chevron Corporation $CVX

Callan Family Office LLC acquired a new stake in shares of Chevron Corporation (NYSE:CVX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 90,394 shares of the oil and gas company’s stock, valued at approximately $14,984,000.

A number of other institutional investors have also made changes to their positions in CVX. BlackRock Inc. bought a new stake in Chevron during the second quarter worth approximately $25,663,729,000. Norges Bank acquired a new position in Chevron during the fourth quarter valued at approximately $3,727,586,000. Bank of New York Mellon Corp bought a new position in shares of Chevron in the second quarter valued at approximately $2,378,114,000. State Street Corp raised its position in shares of Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares during the period. Finally, Berkshire Hathaway Inc lifted its stake in shares of Chevron by 6.6% in the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after buying an additional 8,091,570 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 317,100 shares of Chevron stock in a transaction that occurred 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 owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hess sold 710,665 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total value of $137,940,076.50. Following the sale, the director owned 363,711 shares in the company, valued at approximately $70,596,305.10. This represents a 66.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,152,582 shares of company stock valued at $225,853,661. 0.56% of the stock is currently owned by insiders.

Chevron Stock Performance

NYSE CVX opened at $205.25 on Friday. 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 firm has a market capitalization of $405.53 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 0.62 and a beta of 0.49. The company’s fifty day moving average is $185.03 and its two-hundred day moving average is $188.07. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same quarter in the prior year, the business earned $1.77 earnings per share. The firm’s revenue for the quarter was up 57.4% on a year-over-year basis. Equities research analysts forecast that Chevron Corporation will post 16.17 EPS for the current year.

Chevron Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, August 19th. Chevron’s payout ratio is currently 68.26%.

Key Stories Impacting Chevron

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Mizuho set a $224.00 price objective on shares of Chevron in a report on Monday, August 3rd. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Thursday, July 2nd. Morgan Stanley boosted their target price on shares of Chevron from $210.00 to $218.00 and gave the stock an “overweight” rating in a research report on Wednesday. Piper Sandler started coverage on shares of Chevron in a report on Thursday, July 23rd. They set an “overweight” rating and a $207.00 price target for the company. Finally, Bank of America raised their price target on Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Twenty investment 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.48.

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.