Baird Financial Group Inc. Has $286.54 Million Stock Holdings in Chevron Corporation $CVX

Key Points

• Baird Financial Group increased its Chevron stake by 2.9% in the second quarter, owning 1.73 million shares valued at approximately $286.54 million. Institutional investors collectively own 72.42% of Chevron.
• Chevron reported stronger-than-expected quarterly results, with $6.06 in EPS and $67.20 billion in revenue, while shares opened at $210.09 and remained near their 52-week high.
• Chevron plans to invest more than $7 billion in Venezuela over five years, potentially expanding production to about 600,000 barrels per day. The strategy offers growth potential but carries geopolitical, sanctions and valuation risks.

Baird Financial Group Inc. increased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,728,643 shares of the oil and gas company's stock after buying an additional 49,485 shares during the quarter. Baird Financial Group Inc. owned 0.09% of Chevron worth $286,540,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Blue Capital Inc. bought a new stake in shares of Chevron in the 2nd quarter worth approximately $786,000. OneAscent Wealth Management LLC bought a new stake in shares of Chevron during the second quarter valued at approximately $973,000. Global Retirement Partners LLC bought a new stake in shares of Chevron during the second quarter valued at approximately $14,276,000. Janney Montgomery Scott LLC raised its stake in shares of Chevron by 6.8% in the first quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company's stock valued at $258,853,000 after purchasing an additional 79,439 shares in the last quarter. Finally, Galaxy Digital Inc. acquired a new position in shares of Chevron in the first quarter valued at $2,028,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Venezuela expansion adds production potential: Chevron plans to more than double the number of oil rigs it operates in Venezuela as part of a five-year growth plan. The company’s expanded joint ventures target production of approximately 600,000 barrels per day and include additional acreage in the Carabobo region. The initiative could provide meaningful production growth and leverage Venezuela’s large reserves. Chevron to double oil rigs in Venezuela as part of growth plan
• Positive Sentiment: Large investment signals confidence in long-term growth: Chevron is expected to invest more than $7 billion over five years to expand its Venezuelan operations. Management says strong cash flow and synergies from the Hess transaction give the company financial flexibility to pursue the expansion while continuing to support shareholders. Chevron doubles down on Venezuela with a $7 billion oil bet
• Positive Sentiment: Oil-market backdrop remains supportive: Reports of higher oil prices amid escalating Middle East tensions are supporting energy-sector sentiment and Chevron’s earnings outlook. Analysts have also argued that the company’s rally could continue, citing strong energy prices, earnings and operating fundamentals. Stock Market Today: Dow dives, oil pops
• Neutral Sentiment: Management commentary reinforces the strategy: At Barclays’ energy conference, Chevron executives discussed the Venezuela growth plan and broader operating priorities. Investors will look for additional detail on capital spending, production timing and returns. Chevron presents at Barclays energy conference
• Negative Sentiment: Valuation and geopolitical risks are rising: Chevron has surged more than 40% this year and is close to its 52-week high, leaving less room for disappointment. Venezuela’s political, sanctions and operational risks could delay or reduce the expected benefits of the expansion. Chevron stock is near a record high
• Neutral Sentiment: Dividend appeal remains intact but requires substantial capital: An investor starting from scratch would need more than $146,000 in Chevron shares to generate $5,000 in annual passive income at current dividend levels. This highlights the income potential but is unlikely to be a major near-term trading catalyst. How many shares of Chevron are needed for annual passive income

Chevron Stock Up 0.7%

Shares of NYSE:CVX opened at $210.09 on Wednesday. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The company's fifty day moving average is $192.79 and its 200-day moving average is $190.20. The company has a market capitalization of $415.08 billion, a PE ratio of 20.14, a P/E/G ratio of 0.61 and a beta of 0.50.

Chevron (NYSE:CVX - Get Free Report) last announced its 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 analysts' expectations of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm's revenue for the quarter was up 57.4% on a year-over-year basis. During the same quarter last year, the company posted $1.77 EPS. Equities research analysts predict that Chevron Corporation will post 16.51 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued 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 dividend yield of 3.4%. Chevron's dividend payout ratio (DPR) is presently 68.26%.

Insider Activity

In related news, Director John Hess sold 710,665 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the sale, the director directly owned 363,711 shares of the company's stock, valued at $70,596,305.10. This trade represents a 66.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andrew Walz sold 16,800 shares of Chevron 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 owned 14 shares of the company's stock, valued at approximately $2,814.84. The trade was a 99.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,152,582 shares of company stock worth $225,853,661. 0.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CVX has been the topic of a number of recent research reports. Zacks Research downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. Wolfe Research raised shares of Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price objective for the company in a report on Thursday, July 2nd. BMO Capital Markets lifted their target price on shares of Chevron from $210.00 to $235.00 and gave the company an "outperform" rating in a research report on Thursday, September 3rd. Mizuho set a $224.00 target price on shares of Chevron in a research note on Monday, August 3rd. Finally, Barclays dropped their price target on shares of Chevron from $216.00 to $208.00 and set an "equal weight" rating for the company in a research report on Monday, August 17th. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $211.35.

Chevron Company Profile

Chevron Corporation is an integrated energy company engaged in the exploration, production, transportation and sale of crude oil and natural gas. The company also manufactures and markets transportation fuels, lubricants, petrochemicals and additives through operations and brands that include Chevron, Texaco and Caltex.

Chevron's upstream activities include oil and natural gas exploration and production, while its downstream business includes refining, fuel marketing, transportation and related energy services.

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