Chevron Corporation $CVX Holdings Increased by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors increased its Chevron stake by 8.1% in the second quarter to 173,771 shares valued at approximately $28.8 million. Institutional investors own 72.42% of Chevron’s outstanding stock.
• Chevron reported strong quarterly results, with EPS of $6.06 beating estimates of $5.55 and revenue of $67.2 billion rising 57.4% year over year. The company also declared a quarterly dividend of $1.78, equivalent to a 3.3% annualized yield.
• Wall Street maintains a favorable view, with a consensus rating of “Moderate Buy” and an average price target of $211.35, while recent oil-price gains and Chevron’s planned Venezuelan expansion could support future growth.

Sequoia Financial Advisors LLC grew its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 8.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 173,771 shares of the oil and gas company's stock after acquiring an additional 13,053 shares during the period. Sequoia Financial Advisors LLC's holdings in Chevron were worth $28,804,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Blue Capital Inc. acquired a new stake in shares of Chevron during the second quarter worth approximately $786,000. OneAscent Wealth Management LLC bought a new stake in Chevron in the second quarter worth $973,000. Global Retirement Partners LLC bought a new stake in shares of Chevron during the 2nd quarter worth about $14,276,000. Janney Montgomery Scott LLC grew its holdings 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 valued at $258,853,000 after purchasing an additional 79,439 shares during the last quarter. Finally, Galaxy Digital Inc. acquired a new position in Chevron in the 1st quarter valued at $2,028,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 1.9%

Shares of NYSE:CVX opened at $213.69 on Thursday. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $215.28. 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 $193.75 and its 200-day moving average is $190.40. The company has a market capitalization of $422.20 billion, a PE ratio of 20.49, a P/E/G ratio of 0.62 and a beta of 0.50.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping 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 business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same quarter in the prior year, the firm earned $1.77 EPS. The firm's quarterly revenue was up 57.4% compared to the same quarter last year. Equities research analysts predict that Chevron Corporation will post 16.51 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $1.78 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.3%. Chevron's dividend payout ratio (DPR) is 68.26%.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Brent crude rose above $100 per barrel and WTI topped $95 amid escalating Middle East tensions. Higher oil prices can support Chevron’s upstream revenue, earnings and cash flow. Comparing Energy ETFs: Positioning Portfolios as Oil Hits $100
• Positive Sentiment: Chevron plans to double its Venezuelan oil rigs as part of a five-year, roughly $7 billion investment program, targeting production of up to 600,000 barrels per day by 2031. The expansion offers significant long-term volume growth if political, regulatory and operating conditions cooperate. Chevron to double oil rigs in Venezuela as part of growth plan
• Positive Sentiment: Chief Financial Officer Eimear Bonner emphasized Chevron’s scale, cost-efficiency efforts in U.S. shale and global expansion. Investors may view these initiatives, along with Hess-related synergies and strong free cash flow, as evidence of greater financial flexibility. Chevron CFO Says Oil Giant Is Bigger, Better and Stronger Than We’ve Ever Been
• Positive Sentiment: Chevron remains attractive to income-oriented investors because of its scale, balance-sheet strength and shareholder returns, particularly while energy prices are elevated. Oil Prices Are Climbing, Yet These 3 Energy Stocks Yield 3%+

Insiders Place Their Bets

In other Chevron news, insider Andrew Walz sold 16,800 shares of the firm's stock in a transaction dated 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 sale, the insider owned 14 shares in the company, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider R. Pate sold 2,470 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total transaction 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,152,582 shares of company stock valued at $225,853,661. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CVX shares. Mizuho set a $224.00 price target on Chevron in a research report on Monday, August 3rd. Wells Fargo & Company raised their target price on Chevron from $226.00 to $230.00 and gave the stock an "overweight" rating in a research report on Thursday, September 3rd. Sanford C. Bernstein lifted their price target on shares of Chevron from $204.00 to $209.00 and gave the stock a "market perform" rating in a research note on Monday, August 3rd. Dbs Bank raised shares of Chevron to a "moderate buy" rating in a report on Thursday, August 6th. Finally, Bank of America increased their price objective on shares of Chevron from $210.00 to $227.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Twenty analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $211.35.

About Chevron

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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