Aegis Wealth Management LLC Takes Position in Chevron Corporation $CVX

Key Points

• Aegis Wealth Management initiated a Chevron position of 5,091 shares valued at approximately $844,000, while institutional investors and hedge funds collectively own 72.42% of CVX.
• Chevron insiders sold substantial amounts of stock, including CEO Michael Wirth’s sale of 317,100 shares worth about $63.6 million, reducing his reported ownership by 92.34%.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $207.13 price target. Chevron also exceeded quarterly earnings and revenue estimates and declared a quarterly dividend of $1.78, implying a 3.5% annual yield.

Aegis Wealth Management LLC bought a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,091 shares of the oil and gas company's stock, valued at approximately $844,000. Chevron comprises about 0.4% of Aegis Wealth Management LLC's portfolio, making the stock its 25th largest holding.

A number of other institutional investors have also modified their holdings of CVX. Midwest Capital Advisors LLC purchased a new stake in shares of Chevron in the first quarter valued at about $25,000. Main Street Group LTD acquired a new stake in shares of Chevron during the first quarter worth about $28,000. Phillip James Consulting Co. purchased a new position in shares of Chevron during the fourth quarter worth about $26,000. Core Wealth Advisors LLC purchased a new position in shares of Chevron during the fourth quarter worth about $26,000. Finally, Karpus Management Inc. acquired a new position in Chevron in the 4th quarter valued at about $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John B. Hess sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the transaction, the director directly owned 178,045 shares of the company's stock, valued at $34,587,021.70. This trade represents a 35.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael K. Wirth sold 317,100 shares of the business's stock in a transaction dated 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 sale, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,133,312 shares of company stock worth $221,969,232. Insiders own 0.56% of the company's stock.

Analysts Set New Price Targets

CVX has been the subject of several analyst reports. Zacks Research cut Chevron from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. Barclays dropped their price objective on shares of Chevron from $216.00 to $208.00 and set an "equal weight" rating on the stock in a research note on Monday. Wolfe Research raised 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. Dbs Bank upgraded shares of Chevron to a "moderate buy" rating in a research note on Thursday, August 6th. Finally, UBS Group reissued a "buy" rating on shares of Chevron in a report on Tuesday, June 23rd. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $207.13.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reported an oil and gas condensate discovery at the 105-4X exploration well in offshore Angola’s Block 0. The well encountered a hydrocarbon column exceeding 600 meters, with more than 90 meters of net pay; its proximity to existing infrastructure could enable a lower-cost tie-back and support future production growth. Chevron finds oil, gas condensate offshore Angola
• Positive Sentiment: Equinor agreed to acquire a 17.4% interest in Chevron-operated petroleum exploration licence PEL 90 offshore Namibia. The deal brings a major partner into the Orange Basin, helps share exploration costs and supports plans to drill during 2026 while Chevron retains operatorship. Norway's Equinor takes stake in Chevron Namibia exploration licence
• Positive Sentiment: Unusually heavy call-option activity indicated increased bullish interest in CVX, with 62,675 calls purchased—about 45% above average daily volume.
• Neutral Sentiment: Recent investor commentary continues to highlight Chevron’s appeal as a reliable dividend stock, but energy-sector income and valuation remain sensitive to oil and natural-gas prices.
• Negative Sentiment: CEO Michael Wirth sold 317,100 shares for approximately $63.6 million, reducing his reported ownership by 92.34%. While insider sales can be scheduled or personal, the size of the transaction may weigh on sentiment. Chevron CEO Form 4 filing
• Negative Sentiment: A retreat in oil prices pressured the stock by reducing the near-term outlook for upstream revenue and cash flow, partially offsetting the benefit of Chevron’s exploration news. Chevron Corporation drops as oil price retreats

Chevron Stock Up 1.5%

Shares of NYSE CVX opened at $205.77 on Wednesday. The stock has a market capitalization of $406.55 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 0.61 and a beta of 0.49. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The firm has a 50-day moving average price of $183.95 and a 200 day moving average price of $187.50. 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 (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping 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 company had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same period in the prior year, the business posted $1.77 earnings per share. The firm's revenue for the quarter was up 57.4% compared to the same quarter last year. Equities research analysts anticipate that Chevron Corporation will post 15.86 EPS for the current fiscal 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 issued a $1.78 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend 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.

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