Chevron Corporation $CVX Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP reduced its Chevron stake by 2.5% in the second quarter, selling 59,722 shares while retaining 2.3 million shares valued at approximately $381.3 million. Institutional investors and hedge funds own 72.42% of Chevron.
• Analyst sentiment remains favorable: 20 analysts rate Chevron a Buy, five rate it Hold and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $211.35.
• Chevron reported quarterly EPS of $6.06, beating estimates, while revenue rose 57.4% year over year to $67.2 billion. The company also maintains a quarterly dividend of $1.78 per share, equivalent to a 3.3% annualized yield.

Corient Private Wealth LP trimmed its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,300,306 shares of the oil and gas company's stock after selling 59,722 shares during the quarter. Corient Private Wealth LP owned 0.12% of Chevron worth $381,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Midwest Capital Advisors LLC acquired a new position in shares of Chevron during the first quarter valued at about $25,000. Core Wealth Advisors LLC acquired a new stake in Chevron in the 4th quarter worth approximately $26,000. Phillip James Consulting Co. purchased a new stake in Chevron during the 4th quarter worth approximately $26,000. Basso Capital Management L.P. purchased a new stake in Chevron during the 4th quarter worth approximately $27,000. Finally, Karpus Management Inc. purchased a new stake in Chevron during the 4th quarter worth approximately $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $216.00 price target on shares of Chevron in a report on Friday, July 10th. Mizuho set a $224.00 price objective on shares of Chevron in a report on Monday, August 3rd. Wells Fargo & Company boosted their price objective on shares of Chevron from $226.00 to $230.00 and gave the company an "overweight" rating in a report on Thursday, September 3rd. UBS Group reissued a "buy" rating on shares of Chevron in a research report on Tuesday, June 23rd. Finally, Barclays reduced their target price on Chevron from $216.00 to $208.00 and set an "equal weight" rating for the company in a research note on Monday, August 17th. Twenty 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $211.35.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 100,000 shares of Chevron stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the completion of the transaction, the director owned 178,045 shares in the company, valued at approximately $34,587,021.70. This trade represents a 35.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider R. Pate sold 2,470 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value 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 trade represents a 18.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,152,582 shares of company stock valued at $225,853,661 in the last three months. Company insiders own 0.56% of the company's stock.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices support earnings and cash flow. Brent’s move above $100 and toward $110 per barrel is a major tailwind for Chevron’s upstream business. Historical analysis cited by The Motley Fool suggests oil-price spikes of this magnitude have generally benefited Chevron, although buying after a sharp rally carries timing risk. Oil Just Topped $109. Is It Too Late to Buy Chevron (CVX)? History Has a Clear Answer.
• Positive Sentiment: Chevron is being highlighted as a balanced dividend investment. Analysts point to the company’s scale, financial strength and shareholder returns as reasons income-focused investors may prefer CVX over riskier energy producers. This Is the First Oil Dividend Stock I'd Buy in September
• Positive Sentiment: Management is pursuing production growth in Venezuela. Chevron aims to raise Venezuelan output to roughly 600,000 barrels per day by 2031, while also improving U.S. shale efficiency and expanding internationally. The plan could add significant long-term production and cash flow. Chevron CFO Says Oil Giant Is ‘Bigger, Better and Stronger Than We’ve Ever Been’
• Neutral Sentiment: Analyst commentary remains focused on positioning and valuation. Recent coverage compares Chevron with other energy companies and emphasizes its combination of scale, yield and financial resilience as oil prices rise. Analysts Offer Insights on Energy Companies
• Negative Sentiment: Execution and returns on capital remain concerns. Chevron’s production and free cash flow are improving, but return on invested capital is lagging, raising questions about how effectively the company converts its asset base and investment spending into profits. CVX's Operations & FCF Are Improving: Why Isn't ROIC Keeping Up?
• Negative Sentiment: Venezuela expansion carries timeline and geopolitical risks. Doubling rigs as part of a proposed $7 billion, five-year investment and reaching the 600,000-barrel target by 2031 may prove difficult because of operational, political and regulatory uncertainty. Chevron Wants 600,000 Barrels a Day From Venezuela by 2031

Chevron Stock Performance

CVX opened at $212.84 on Friday. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $217.40. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $420.51 billion, a PE ratio of 20.41, a P/E/G ratio of 0.63 and a beta of 0.50. The firm has a 50 day moving average of $194.62 and a two-hundred day moving average of $190.61.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. The business 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 business's revenue for the quarter was up 57.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 EPS. On average, analysts anticipate that Chevron Corporation will post 16.51 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a dividend of $1.78 per share. The ex-dividend date was Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.3%. Chevron's payout ratio is currently 68.26%.

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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