Alta Advisers Ltd Takes $1.25 Million Position in Chevron Corporation $CVX

Key Points

• Alta Advisers Ltd. acquired 7,564 Chevron shares in the second quarter, worth approximately $1.25 million. Institutional investors and hedge funds collectively own 72.42% of Chevron.
• Chevron exceeded quarterly expectations, reporting $6.06 in earnings per share and $67.2 billion in revenue, while maintaining a $1.78 quarterly dividend equivalent to a 3.5% annual yield.
• Analysts have a “Moderate Buy” consensus and an average price target of $207.48, but significant insider selling and potential future oil-supply growth in Iraq remain risks for the stock.

Alta Advisers Ltd purchased a new position in Chevron Corporation (NYSE:CVX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,564 shares of the oil and gas company's stock, valued at approximately $1,254,000.

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

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Brent crude recently approached $94–$95 per barrel amid renewed Middle East tensions and concerns about Strait of Hormuz disruptions. Sustained higher oil prices typically benefit Chevron’s upstream revenue, margins and cash flow. Chevron jumps as Brent crude approaches $94
• Positive Sentiment: Chevron confirmed an oil and gas condensate discovery at the 105-4X well in offshore Angola. Its proximity to existing facilities could allow a lower-cost tie-back, creating a potential source of future production. Chevron Angola discovery analysis
• Positive Sentiment: Chevron’s $1.78 quarterly dividend, equal to $7.12 annually and an approximately 3.5% yield, reinforces its appeal to income investors. The company also recently exceeded quarterly earnings and revenue expectations. Chevron raises dividend
• Neutral Sentiment: Analysis comparing Chevron with Exxon Mobil highlights differing long-term strategies, including Chevron’s continued emphasis on oil and gas. The approach could benefit from strong commodity prices but leaves CVX more exposed to future oil-demand and price cycles. Chevron versus Exxon Mobil analysis
• Negative Sentiment: Iraq plans to more than double its oil output over the next six years. If achieved, the added supply could pressure global crude prices and reduce the earnings benefit Chevron receives from today’s elevated prices. Iraq oil output and Chevron
• Negative Sentiment: Two Chevron insiders sold shares recently: Andrew Benjamin Walz sold 16,800 shares, while R. Hewitt Pate sold 2,470 shares. Although such transactions may reflect personal financial planning, they can create a modest sentiment overhang. Chevron insider sale report
• Negative Sentiment: A separate analysis says concerns remain centered on Chevron, including issues surrounding its Hess Midstream exposure and broader execution risks. The report may temper enthusiasm after CVX’s recent advance. Hess Midstream: The Issue Remains With Chevron

Insider Activity at Chevron

In related news, insider R. Hewitt Pate sold 2,470 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the completion of the transaction, the insider directly owned 10,794 shares of the company's stock, valued at approximately $2,213,957.34. This represents a 18.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hess sold 100,000 shares of the stock in a transaction dated 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 transaction, the director owned 178,045 shares of the company's stock, valued at approximately $34,587,021.70. This trade represents a 35.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,152,582 shares of company stock valued at $225,853,661. 0.56% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CVX. Weiss Ratings raised shares of Chevron from a "hold (c)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. TD Cowen lifted their price target 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. Barclays reduced their price target on shares of Chevron from $216.00 to $208.00 and set an "equal weight" rating on the stock in a research report on Monday, August 17th. Wall Street Zen raised shares of Chevron from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Morgan Stanley upped their price objective on shares of Chevron from $210.00 to $218.00 and gave the company an "overweight" rating in a research report on Wednesday. Twenty analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $207.48.

Chevron Stock Performance

Shares of CVX stock opened at $205.25 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The company's 50 day moving average price is $185.03 and its two-hundred day moving average price is $188.07. The company has a market capitalization of $405.53 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 0.61 and a beta of 0.49.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share 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 company had revenue of $67.20 billion during the quarter, compared to analysts' expectations of $62.72 billion. During the same quarter in the prior year, the company earned $1.77 earnings per share. The business's quarterly revenue was up 57.4% compared to the same quarter last year. On average, analysts expect that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron's payout ratio is currently 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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