Chevron Corporation $CVX Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC decreased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 75.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,279 shares of the oil and gas company's stock after selling 49,627 shares during the period. Headlands Technologies LLC's holdings in Chevron were worth $2,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Blue Capital Inc. acquired a new stake in shares of Chevron in the 2nd quarter worth $786,000. OneAscent Wealth Management LLC acquired a new position in shares of Chevron during the 2nd quarter valued at about $973,000. Global Retirement Partners LLC acquired a new position in shares of Chevron during the 2nd quarter valued at about $14,276,000. Indivisible Partners purchased a new stake in shares of Chevron in the fourth quarter valued at about $1,923,000. Finally, Janney Montgomery Scott LLC grew its holdings 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 during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wolfe Research raised shares of Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 target price on the stock in a research note on Thursday, July 2nd. Dbs Bank raised shares of Chevron to a "moderate buy" rating in a research note on Thursday, August 6th. Barclays cut their price target on shares of Chevron from $216.00 to $208.00 and set an "equal weight" rating for the company in a report on Monday, August 17th. Morgan Stanley lifted their price target on shares of Chevron from $210.00 to $218.00 and gave the company an "overweight" rating in a research report on Wednesday, August 19th. Finally, Mizuho set a $224.00 price objective on Chevron in a report on Monday, August 3rd. Twenty equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $207.48.

Chevron Trading Up 0.1%

Shares of CVX stock opened at $202.04 on Monday. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The firm has a market cap 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. The company has a 50-day moving average of $187.44 and a two-hundred day moving average of $188.90. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $62.72 billion. During the same period in the previous year, the firm earned $1.77 EPS. The business's revenue was up 57.4% on a year-over-year basis. On average, analysts predict that Chevron Corporation will post 16.24 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.5%. Chevron's payout ratio is presently 68.26%.

Chevron News Summary

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 Transactions at Chevron

In other Chevron news, Director John B. Hess sold 100,000 shares of the company's stock in a transaction on 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 transaction, the director directly owned 178,045 shares in the company, valued at $34,587,021.70. This 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 Andrew Benjamin Walz sold 16,800 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider owned 14 shares of the company's stock, valued at approximately $2,814.84. This represents a 99.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,152,582 shares of company stock worth $225,853,661 in the last ninety days. 0.56% of the stock is owned by company insiders.

Chevron Company Profile

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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