Benjamin Edwards Inc. Sells 6,561 Shares of Chevron Corporation $CVX

Key Points

• Benjamin Edwards Inc. reduced its Chevron stake by 5% in the second quarter, selling 6,561 shares and retaining 125,480 shares valued at approximately $20.8 million. Institutional investors collectively own 72.42% of Chevron.
• Chevron is reportedly nearing agreements to expand its Venezuelan oil operations, potentially creating a significant production-growth opportunity, though political opposition, sanctions and regulatory uncertainty pose risks.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $207.48. Chevron also reported quarterly EPS of $6.06, beating estimates, and declared a $1.78 quarterly dividend, representing a 3.5% yield.

Benjamin Edwards Inc. decreased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 5.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,480 shares of the oil and gas company's stock after selling 6,561 shares during the quarter. Benjamin Edwards Inc.'s holdings in Chevron were worth $20,802,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CVX. Blue Capital Inc. acquired a new stake in shares of Chevron during the second quarter worth $786,000. OneAscent Wealth Management LLC acquired a new position in shares of Chevron in the second quarter valued at about $973,000. Global Retirement Partners LLC acquired a new position in shares of Chevron in the second quarter valued at about $14,276,000. Indivisible Partners bought a new position in Chevron during the fourth quarter worth about $1,923,000. Finally, Janney Montgomery Scott LLC increased its position in Chevron by 6.8% during the first quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company's stock worth $258,853,000 after acquiring an additional 79,439 shares during the period. Institutional investors own 72.42% of the company's stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is reportedly nearing a deal to migrate all of its Venezuelan joint ventures into a new energy framework, potentially allowing greater operational control and key oilfield expansions. The company already accounts for roughly one-quarter of Venezuela’s oil production. Reuters: Chevron to complete deal in Venezuela to migrate, expand oil projects
• Positive Sentiment: Reports indicate Chevron and oil-services company Halliburton are close to agreements to invest billions of dollars in Venezuelan fields. For Chevron, the opportunity could create a long-term production-growth platform and strengthen its position if Venezuela moves further away from OPEC restrictions. Wall Street Journal: Chevron, Other U.S. Firms Near Deal to Invest Billions in Venezuelan Oil Fields
• Neutral Sentiment: Analyst-oriented coverage is comparing Chevron’s performance with TotalEnergies, while other reports highlight Chevron’s investments in nuclear-fusion technology. Fusion could eventually diversify the company beyond hydrocarbons, but the projects remain experimental and are unlikely to materially affect near-term earnings. Yahoo Finance: What Does Chevron Want From Its Nuclear Fusion Push?
• Negative Sentiment: Venezuelan opposition groups have criticized reports that U.S. companies could receive a large stake in the country’s energy industry. Political resistance, sanctions or regulatory uncertainty could delay the agreement, raise investment costs or limit the expected benefits. The Guardian: Venezuelan opposition reacts to potential U.S. oil stake
• Negative Sentiment: Dividend-focused coverage notes that Chevron’s payout remains exposed to commodity-price cycles. Although the dividend is supported by the company’s scale and balance sheet, weaker oil prices or heavy Venezuelan investment requirements could pressure future cash-flow flexibility. 247WallSt: Chevron or PepsiCo: Whose Dividend Is Standing on Thinner Ice?

Insider Activity at Chevron

In other news, 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 transaction 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 represents a 99.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael K. Wirth sold 317,100 shares of the firm's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the sale, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,152,582 shares of company stock worth $225,853,661 in the last 90 days. 0.56% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CVX. Zacks Research downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Dbs Bank upgraded shares of Chevron to a "moderate buy" rating in a research report on Thursday, August 6th. Weiss Ratings upgraded Chevron from a "hold (c)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Morgan Stanley increased their price target on Chevron from $210.00 to $218.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 19th. Finally, Piper Sandler started coverage on Chevron in a research note on Thursday, July 23rd. They set an "overweight" rating and a $207.00 price objective on the stock. Twenty research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Chevron currently has an average rating of "Moderate Buy" and an average target price of $207.48.

Chevron Stock Performance

NYSE:CVX opened at $202.04 on Friday. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The stock's 50-day simple moving average is $187.44 and its 200 day simple moving average is $188.85. The firm has a market capitalization of $399.18 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The firm had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. During the same quarter in the previous year, the firm earned $1.77 earnings per share. The business's quarterly revenue was up 57.4% on a year-over-year basis. On average, analysts anticipate that Chevron Corporation will post 16.24 EPS for the current fiscal year.

Chevron Dividend Announcement

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 paid a $1.78 dividend. 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 is presently 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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