Asahi Life Asset Management CO. LTD. Acquires Shares of 8,741 Chevron Corporation $CVX

Key Points

• Asahi Life Asset Management acquired 8,741 Chevron shares worth approximately $1.45 million, while institutional investors collectively own 72.42% of CVX.
• Chevron reported better-than-expected quarterly results, with $6.06 EPS and $67.2 billion in revenue, and declared a $1.78 quarterly dividend, representing a 3.5% annualized yield.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus and an average price target of $207.48, although substantial insider selling—including the CEO’s $63.6 million sale—could weigh on sentiment.

Asahi Life Asset Management CO. LTD. acquired a new stake in Chevron Corporation (NYSE:CVX - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,741 shares of the oil and gas company's stock, valued at approximately $1,449,000. Chevron makes up 0.8% of Asahi Life Asset Management CO. LTD.'s holdings, making the stock its 27th biggest holding.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVX. United Bank boosted its stake in Chevron by 7.7% during the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company's stock worth $1,586,000 after purchasing an additional 796 shares during the last quarter. Schnieders Capital Management LLC. raised its position in shares of Chevron by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company's stock valued at $7,280,000 after buying an additional 4,214 shares during the last quarter. BNP Paribas raised its position in shares of Chevron by 76.4% in the second quarter. BNP Paribas now owns 441 shares of the oil and gas company's stock valued at $63,000 after buying an additional 191 shares during the last quarter. Osterweis Capital Management Inc. lifted its stake in shares of Chevron by 678.9% in the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company's stock worth $195,000 after buying an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC lifted its stake in shares of Chevron by 3.6% in the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company's stock worth $2,299,000 after buying an additional 553 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Chevron stock opened at $205.85 on Friday. The firm has a 50 day simple moving average of $184.67 and a 200-day simple moving average of $187.95. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The stock has a market cap of $406.71 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 0.63 and a beta of 0.49.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.55 by $0.51. The business had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business's revenue was up 57.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.77 EPS. On average, analysts expect that Chevron Corporation will post 15.86 EPS for the current 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 3.5%. Chevron's dividend payout ratio (DPR) is 68.26%.

Analysts Set New Price Targets

CVX has been the topic of several recent research reports. Dbs Bank upgraded Chevron to a "moderate buy" rating in a report on Thursday, August 6th. Wall Street Zen upgraded Chevron from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. TD Cowen boosted their price objective on Chevron from $200.00 to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, August 5th. The Goldman Sachs Group restated a "buy" rating and issued a $216.00 target price on shares of Chevron in a report on Wednesday, May 6th. Finally, Piper Sandler assumed coverage on Chevron in a research note on Thursday, July 23rd. They issued an "overweight" rating and a $207.00 target price for the company. Twenty investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of "Moderate Buy" and an average price target of $207.48.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron confirmed a sizable oil and gas condensate discovery at the 105-4X well in offshore Angola’s Block 0. The more than 600-meter hydrocarbon column and over 90 meters of net pay could support future production, while a tie-back to existing facilities may reduce development costs. Chevron Angola discovery analysis
• Positive Sentiment: Equinor’s agreement to acquire a 17.4% interest in Chevron-operated offshore Namibia exploration acreage allows CVX to share exploration costs while retaining operatorship, reducing financial exposure ahead of planned 2026 drilling. Equinor enters Namibia with stake in Chevron-operated block
• Positive Sentiment: Options traders purchased unusually large volumes of CVX call options, indicating stronger bullish positioning and potentially adding momentum to the rally.
• Positive Sentiment: Chevron’s shareholder-return profile remains supportive: the company recently declared a $1.78 quarterly dividend, equivalent to $7.12 annually and an approximately 3.5% yield. Its latest quarterly results also exceeded expectations, with adjusted EPS of $6.06 versus $5.55 expected and revenue of $67.2 billion versus $62.72 billion forecast.
• Neutral Sentiment: Analyst sentiment is broadly favorable. Morgan Stanley raised its target to $218 and maintained an overweight rating, while the broader analyst consensus remains “Moderate Buy.” However, the stock’s continued performance is highly sensitive to crude prices and Middle East developments.
• Negative Sentiment: Several insiders sold shares, including CEO Michael Wirth’s sale of 317,100 shares worth about $63.6 million and Andrew Benjamin Walz’s sale of 16,800 shares. These transactions may weigh on sentiment, although they can reflect personal financial planning rather than concerns about Chevron’s fundamentals. Chevron CEO SEC filing

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 317,100 shares of Chevron stock in a transaction on Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the sale, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. The trade was a 92.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew Benjamin Walz sold 16,800 shares of the company's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the transaction, the insider directly owned 14 shares in the company, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,152,582 shares of company stock worth $225,853,661 in the last three months. 0.56% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source