13,142 Shares in Chevron Corporation $CVX Bought by NBH Bank

Key Points

• NBH Bank bought 13,142 Chevron shares worth approximately $2.18 million during the second quarter, making Chevron 0.9% of its portfolio. Institutional investors and hedge funds collectively own 72.42% of Chevron.
• Analyst sentiment is favorable, with 20 Buy ratings, five Holds and one Sell; Chevron has a consensus rating of “Moderate Buy” and an average price target of $211.35.
• Chevron reported stronger-than-expected quarterly results, including $6.06 in EPS and $67.20 billion in revenue, and declared a quarterly dividend of $1.78. However, insiders sold more than 1.15 million shares over the past 90 days, while investors remain watchful of valuation, oil-price exposure and risks tied to the company’s Venezuela expansion.

NBH Bank bought a new stake in Chevron Corporation (NYSE:CVX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,142 shares of the oil and gas company's stock, valued at approximately $2,178,000. Chevron accounts for 0.9% of NBH Bank's holdings, making the stock its 25th largest position.

Other large investors have also recently bought and sold shares of the company. Midwest Capital Advisors LLC bought a new stake in shares of Chevron during the 1st quarter valued at about $25,000. Core Wealth Advisors LLC acquired a new position in Chevron in the fourth quarter valued at approximately $26,000. Phillip James Consulting Co. bought a new position in shares of Chevron during the 4th quarter worth approximately $26,000. Basso Capital Management L.P. bought a new position in shares of Chevron during the 4th quarter worth approximately $27,000. Finally, Karpus Management Inc. acquired a new stake in shares of Chevron during the 4th quarter worth approximately $27,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CVX. Dbs Bank upgraded shares of Chevron to a "moderate buy" rating in a research report on Thursday, August 6th. BMO Capital Markets raised their price target on shares of Chevron from $210.00 to $235.00 and gave the stock an "outperform" rating in a report on Thursday. Wall Street Zen raised shares of Chevron from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Sanford C. Bernstein upped their price objective on shares of Chevron from $204.00 to $209.00 and gave the company a "market perform" rating in a report on Monday, August 3rd. Finally, Piper Sandler increased their price objective on shares of Chevron from $207.00 to $243.00 and gave the stock an "overweight" rating in a research report on Thursday. Twenty investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Chevron presently has an average rating of "Moderate Buy" and a consensus price target of $211.35.

Insider Buying and Selling at Chevron

In other news, Director John Hess sold 710,665 shares of Chevron stock in a transaction dated Monday, August 3rd. The shares were 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 directly owned 363,711 shares in the company, valued at $70,596,305.10. This trade represents a 66.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew Walz sold 16,800 shares of Chevron stock in a transaction dated 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 transaction, the insider owned 14 shares of the company's stock, valued at $2,814.84. This represents a 99.92% decrease in their ownership of the stock. 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. 0.56% of the stock is currently owned by corporate insiders.

Chevron News Roundup

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 Price Performance

Shares of NYSE:CVX opened at $208.48 on Friday. 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 twelve month low of $146.49 and a twelve month high of $214.71. The stock's 50 day moving average is $191.10 and its 200-day moving average is $189.77. The firm has a market capitalization of $411.91 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 0.63 and a beta of 0.50.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly 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 11.09%. The business had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. During the same quarter last year, the firm posted $1.77 EPS. Chevron's revenue was up 57.4% compared to the same quarter last year. Sell-side analysts forecast that Chevron Corporation will post 16.24 EPS for the current fiscal year.

Chevron Announces Dividend

The firm 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 $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron's dividend payout ratio (DPR) is 68.26%.

About Chevron

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.

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