Chevron Corporation $CVX Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. decreased its holdings in Chevron Corporation (NYSE:CVX) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 992,042 shares of the oil and gas company’s stock after selling 13,541 shares during the quarter. Royal London Asset Management Ltd. owned 0.05% of Chevron worth $164,441,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CVX. Midwest Capital Advisors LLC bought a new position in shares of Chevron in the first quarter valued at approximately $25,000. Core Wealth Advisors LLC acquired a new stake in Chevron in the fourth quarter worth approximately $26,000. Phillip James Consulting Co. bought a new position in Chevron during the 4th quarter valued at $26,000. Basso Capital Management L.P. bought a new position in Chevron during the 4th quarter valued at $27,000. Finally, Karpus Management Inc. acquired a new stake in shares of Chevron in the fourth quarter valued at $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is reportedly nearing a deal to migrate all of its Venezuelan joint ventures into a new energy framework, potentially allowing greater operational control and key oilfield expansions. The company already accounts for roughly one-quarter of Venezuela’s oil production. Reuters: Chevron to complete deal in Venezuela to migrate, expand oil projects
• Positive Sentiment: Reports indicate Chevron and oil-services company Halliburton are close to agreements to invest billions of dollars in Venezuelan fields. For Chevron, the opportunity could create a long-term production-growth platform and strengthen its position if Venezuela moves further away from OPEC restrictions. Wall Street Journal: Chevron, Other U.S. Firms Near Deal to Invest Billions in Venezuelan Oil Fields
• Neutral Sentiment: Analyst-oriented coverage is comparing Chevron’s performance with TotalEnergies, while other reports highlight Chevron’s investments in nuclear-fusion technology. Fusion could eventually diversify the company beyond hydrocarbons, but the projects remain experimental and are unlikely to materially affect near-term earnings. Yahoo Finance: What Does Chevron Want From Its Nuclear Fusion Push?
• Negative Sentiment: Venezuelan opposition groups have criticized reports that U.S. companies could receive a large stake in the country’s energy industry. Political resistance, sanctions or regulatory uncertainty could delay the agreement, raise investment costs or limit the expected benefits. The Guardian: Venezuelan opposition reacts to potential U.S. oil stake
• Negative Sentiment: Dividend-focused coverage notes that Chevron’s payout remains exposed to commodity-price cycles. Although the dividend is supported by the company’s scale and balance sheet, weaker oil prices or heavy Venezuelan investment requirements could pressure future cash-flow flexibility. 247WallSt: Chevron or PepsiCo: Whose Dividend Is Standing on Thinner Ice?

Analyst Ratings Changes

CVX has been the topic of a number of research analyst reports. TD Cowen lifted their target price on Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. UBS Group reissued a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Piper Sandler began coverage on shares of Chevron in a research report on Thursday, July 23rd. They set an “overweight” rating and a $207.00 price objective for the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research note on Friday, July 10th. Finally, 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 report on Wednesday, August 19th. Twenty analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $207.48.

Insider Activity

In other news, insider R. Hewitt Pate sold 2,470 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total transaction of $506,621.70. Following the sale, the insider owned 10,794 shares in the company, valued at $2,213,957.34. The trade was a 18.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew Benjamin Walz sold 16,800 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the sale, the insider owned 14 shares of the company’s stock, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,152,582 shares of company stock valued at $225,853,661 over the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $202.04 on Friday. The stock’s fifty day simple moving average is $187.44 and its 200 day simple moving average is $188.85. The stock has a market capitalization of $399.18 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 0.60 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71.

Chevron (NYSE:CVX) last announced its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating 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 business had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. During the same period in the prior year, the business posted $1.77 earnings per share. Chevron’s revenue was up 57.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

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.