Asset One Wealth Management LLC Invests $1.69 Million in Chevron Corporation $CVX

Key Points

• Asset One Wealth Management purchased 9,277 Chevron shares worth approximately $1.69 million in the second quarter. Institutional investors collectively own 72.42% of Chevron’s stock.
• Chevron reported quarterly EPS of $6.06 and revenue of $67.20 billion, beating analyst estimates, while revenue increased 57.4% year over year. The company also declared a quarterly dividend of $1.78, equivalent to a 3.5% annualized yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $207.48. However, insiders sold more than 1.15 million shares worth about $225.9 million over the past three months, and potential future oil-supply increases could pressure prices.

Asset One Wealth Management LLC purchased a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,277 shares of the oil and gas company's stock, valued at approximately $1,685,000.

Several other large investors have also added to or reduced their stakes in CVX. Midwest Capital Advisors LLC bought a new position in Chevron during the first quarter worth $25,000. Main Street Group LTD acquired a new stake in Chevron in the first quarter valued at approximately $28,000. Phillip James Consulting Co. acquired a new position in shares of Chevron during the fourth quarter worth approximately $26,000. Kilter Group LLC bought a new position in shares of Chevron in the 2nd quarter worth $28,000. Finally, Core Wealth Advisors LLC bought a new stake in Chevron during the 4th quarter valued at $26,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 100,000 shares of Chevron stock in a transaction dated Monday, August 3rd. The shares were 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 owned 178,045 shares in the company, valued at $34,587,021.70. This trade represents a 35.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Hewitt Pate sold 2,470 shares of the business'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 directly owned 10,794 shares in the company, valued at approximately $2,213,957.34. This trade represents a 18.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,152,582 shares of company stock valued at $225,853,661 in the last three months. 0.56% of the stock is owned by company insiders.

Key Chevron News

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

Analysts Set New Price Targets

CVX has been the subject of a number of analyst reports. The Goldman Sachs Group reiterated a "buy" rating and set a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. UBS Group reaffirmed a "buy" rating on shares of Chevron in a research report on Tuesday, June 23rd. 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. Jefferies Financial Group reiterated a "buy" rating and set a $216.00 price target on shares of Chevron in a research note on Friday, July 10th. Finally, Mizuho set a $224.00 price objective on Chevron in a report on Monday, August 3rd. 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $207.48.

Chevron Stock Performance

Shares of Chevron stock opened at $205.25 on Monday. The business's fifty day simple moving average is $185.03 and its 200 day simple moving average is $188.17. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The firm 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 issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping analysts' consensus estimates of $5.55 by $0.51. The company had revenue of $67.20 billion for 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 firm's quarterly revenue was up 57.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.77 EPS. As a group, analysts anticipate that Chevron Corporation will post 16.17 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors 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 yield of 3.5%. The ex-dividend date 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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