NorthRock Partners LLC Sells 4,563 Shares of Chevron Corporation $CVX

NorthRock Partners LLC trimmed its holdings in Chevron Corporation (NYSE:CVX) by 10.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,620 shares of the oil and gas company’s stock after selling 4,563 shares during the period. NorthRock Partners LLC’s holdings in Chevron were worth $6,567,000 at the end of the most recent quarter.

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

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 317,100 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were 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 in the company, valued at $5,273,701.68. This represents a 92.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider R. Pate sold 2,470 shares of the firm’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 completion of the sale, the insider owned 10,794 shares in the company, valued at $2,213,957.34. This represents a 18.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,152,582 shares of company stock worth $225,853,661 over the last three months. 0.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Weiss Ratings raised Chevron from a “hold (c)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Thursday, July 2nd. Barclays cut their price objective on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a report on Monday, August 17th. TD Cowen increased their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Finally, Sanford C. Bernstein raised their target price on shares of Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Twenty 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 MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $211.35.

Chevron Trading Up 0.7%

Shares of CVX stock opened at $210.09 on Wednesday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The stock’s fifty day moving average price is $192.79 and its two-hundred day moving average price is $190.20. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The company has a market cap of $415.08 billion, a PE ratio of 20.14, a P/E/G ratio of 0.61 and a beta of 0.50.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company had revenue of $67.20 billion during the quarter, compared to analysts’ expectations of $62.72 billion. During the same quarter in the previous year, the firm earned $1.77 EPS. Chevron’s revenue was up 57.4% on a year-over-year basis. Equities analysts predict that Chevron Corporation will post 16.51 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 3.4%. Chevron’s payout ratio is presently 68.26%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Venezuela expansion adds production potential: Chevron plans to more than double the number of oil rigs it operates in Venezuela as part of a five-year growth plan. The company’s expanded joint ventures target production of approximately 600,000 barrels per day and include additional acreage in the Carabobo region. The initiative could provide meaningful production growth and leverage Venezuela’s large reserves. Chevron to double oil rigs in Venezuela as part of growth plan
• Positive Sentiment: Large investment signals confidence in long-term growth: Chevron is expected to invest more than $7 billion over five years to expand its Venezuelan operations. Management says strong cash flow and synergies from the Hess transaction give the company financial flexibility to pursue the expansion while continuing to support shareholders. Chevron doubles down on Venezuela with a $7 billion oil bet
• Positive Sentiment: Oil-market backdrop remains supportive: Reports of higher oil prices amid escalating Middle East tensions are supporting energy-sector sentiment and Chevron’s earnings outlook. Analysts have also argued that the company’s rally could continue, citing strong energy prices, earnings and operating fundamentals. Stock Market Today: Dow dives, oil pops
• Neutral Sentiment: Management commentary reinforces the strategy: At Barclays’ energy conference, Chevron executives discussed the Venezuela growth plan and broader operating priorities. Investors will look for additional detail on capital spending, production timing and returns. Chevron presents at Barclays energy conference
• Negative Sentiment: Valuation and geopolitical risks are rising: Chevron has surged more than 40% this year and is close to its 52-week high, leaving less room for disappointment. Venezuela’s political, sanctions and operational risks could delay or reduce the expected benefits of the expansion. Chevron stock is near a record high
• Neutral Sentiment: Dividend appeal remains intact but requires substantial capital: An investor starting from scratch would need more than $146,000 in Chevron shares to generate $5,000 in annual passive income at current dividend levels. This highlights the income potential but is unlikely to be a major near-term trading catalyst. How many shares of Chevron are needed for annual passive income

About Chevron

Chevron Corporation is an integrated energy company engaged in the exploration, production, transportation and sale of crude oil and natural gas. The company also manufactures and markets transportation fuels, lubricants, petrochemicals and additives through operations and brands that include Chevron, Texaco and Caltex.

Chevron’s upstream activities include oil and natural gas exploration and production, while its downstream business includes refining, fuel marketing, transportation and related energy services.