Chevron Corporation $CVX Shares Purchased by Kintra Wealth LLC

Kintra Wealth LLC raised its stake in Chevron Corporation (NYSE:CVX) by 25.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 13,934 shares of the oil and gas company’s stock after acquiring an additional 2,834 shares during the quarter. Kintra Wealth LLC’s holdings in Chevron were worth $2,310,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVX. BlackRock Inc. purchased a new position in shares of Chevron in the second quarter valued at $25,663,729,000. State Street Corp increased 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 buying an additional 12,789,399 shares during the period. Berkshire Hathaway Inc increased 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 buying an additional 8,091,570 shares during the period. Geode Capital Management LLC lifted its holdings in Chevron by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock worth $6,620,187,000 after buying an additional 134,890 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Chevron by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock worth $5,492,377,000 after buying an additional 961,341 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Chevron stock opened at $208.48 on Friday. The company has a market cap of $411.91 billion, a PE ratio of 19.99, a P/E/G ratio of 0.62 and a beta of 0.50. The company has a fifty day moving average price of $191.10 and a two-hundred day moving average price of $189.77. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping 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 company had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. During the same period in the prior year, the company earned $1.77 earnings per share. The firm’s revenue was up 57.4% compared to the same quarter last year. Research analysts expect that Chevron Corporation will post 16.51 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.4%. Chevron’s dividend payout ratio is 68.26%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Zacks Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Weiss Ratings upgraded Chevron from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Wells Fargo & Company increased their price target on Chevron from $226.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday. Wall Street Zen upgraded Chevron from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Wolfe Research upgraded Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Thursday, July 2nd. Twenty research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $211.35.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 317,100 shares of the company’s 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 completion of the transaction, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R. Pate sold 2,470 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,152,582 shares of company stock worth $225,853,661. Insiders own 0.56% of the company’s stock.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s planned investment of more than $7 billion in Venezuela is expected to expand production to approximately 600,000 barrels per day over five years. Investors view the Orinoco Belt opportunity as a potential source of significant production growth and attractive economics. Chevron Commits $7 Billion to Venezuela to Double Production
• Positive Sentiment: Analysts and fund managers remain constructive on Chevron, citing its scale, strong fundamentals, production growth following the Hess acquisition, dividend record and long-term exposure to energy demand. Rising crude prices above $90 per barrel have also supported sentiment toward major oil companies. Why Gabelli Remains Bullish on Chevron
• Positive Sentiment: A preliminary agreement covering Ghana’s South Deepwater Tano Cape Three Points block could provide Chevron with another international growth option, although commercial terms and ownership details have not been finalized. Chevron and Shell Sign Preliminary Ghana Agreement
• Neutral Sentiment: Chevron’s dividend remains a key attraction, with 39 consecutive years of increases. However, its sustainability would be tested if oil prices fall materially from current elevated levels. Chevron’s Dividend and Oil Price Risk
• Negative Sentiment: Investors remain concerned that the Venezuela strategy will require substantial capital, face operational challenges and carry elevated political and execution risk. Critics also question whether the expansion can deliver its projected returns. Capital Requirements and Operational Challenges
• Negative Sentiment: Valuation concerns have become more important after the rally: Chevron is trading near the upper end of its recent range, while reported insider activity has consisted of sales rather than purchases. A decline in oil prices could further pressure earnings and the stock.

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.