Chevron Corporation $CVX Shares Sold by HORAN Wealth LLC

Key Points

• HORAN Wealth LLC cut its Chevron stake by 49.8% in the second quarter, selling 8,972 shares and retaining 9,058 shares valued at approximately $1.5 million. Institutional investors collectively own 72.42% of Chevron.
• Chevron reported quarterly EPS of $6.06, beating estimates of $5.55, while revenue rose 57.4% year over year to $67.2 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $211.35.
• Chevron declared a quarterly dividend of $1.78 per share, equivalent to an annualized $7.12 payout and a 3.4% yield. However, significant insider selling—including large transactions by the CEO and a director—may concern investors.

HORAN Wealth LLC cut its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 49.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,058 shares of the oil and gas company's stock after selling 8,972 shares during the quarter. HORAN Wealth LLC's holdings in Chevron were worth $1,501,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. United Bank raised its stake in shares of Chevron by 7.7% in the second quarter. United Bank now owns 11,079 shares of the oil and gas company's stock valued at $1,586,000 after acquiring an additional 796 shares in the last quarter. Schnieders Capital Management LLC. grew its stake in Chevron by 9.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company's stock worth $7,280,000 after purchasing an additional 4,214 shares in the last quarter. BNP Paribas increased its holdings in Chevron by 76.4% during the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company's stock worth $63,000 after purchasing an additional 191 shares during the period. Osterweis Capital Management Inc. increased its holdings in Chevron by 678.9% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company's stock worth $195,000 after purchasing an additional 1,188 shares during the period. Finally, Main Street Financial Solutions LLC raised its position in Chevron by 3.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company's stock valued at $2,299,000 after purchasing an additional 553 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Down 0.1%

CVX stock opened at $208.48 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The company's 50 day moving average is $191.10 and its two-hundred day moving average is $189.82. The stock has a market cap of $411.91 billion, a P/E ratio of 19.99, a PEG ratio of 0.61 and a beta of 0.50.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $67.20 billion during 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 company's revenue was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.77 EPS. Research analysts expect that Chevron Corporation will post 16.51 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors 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 3.4%. Chevron's payout ratio is 68.26%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Sanford C. Bernstein boosted their price objective on Chevron from $204.00 to $209.00 and gave the stock a "market perform" rating in a research report on Monday, August 3rd. UBS Group reiterated a "buy" rating on shares of Chevron in a research note on Tuesday, June 23rd. Dbs Bank upgraded shares of Chevron to a "moderate buy" rating in a report on Thursday, August 6th. Bank of America raised their price objective on shares of Chevron from $210.00 to $227.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Finally, Wall Street Zen raised Chevron from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $211.35.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s planned investment of more than $7 billion in Venezuela is expected to expand production to approximately 600,000 barrels per day over five years. Investors view the Orinoco Belt opportunity as a potential source of significant production growth and attractive economics. Chevron Commits $7 Billion to Venezuela to Double Production
• Positive Sentiment: Analysts and fund managers remain constructive on Chevron, citing its scale, strong fundamentals, production growth following the Hess acquisition, dividend record and long-term exposure to energy demand. Rising crude prices above $90 per barrel have also supported sentiment toward major oil companies. Why Gabelli Remains Bullish on Chevron
• Positive Sentiment: A preliminary agreement covering Ghana’s South Deepwater Tano Cape Three Points block could provide Chevron with another international growth option, although commercial terms and ownership details have not been finalized. Chevron and Shell Sign Preliminary Ghana Agreement
• Neutral Sentiment: Chevron’s dividend remains a key attraction, with 39 consecutive years of increases. However, its sustainability would be tested if oil prices fall materially from current elevated levels. Chevron’s Dividend and Oil Price Risk
• Negative Sentiment: Investors remain concerned that the Venezuela strategy will require substantial capital, face operational challenges and carry elevated political and execution risk. Critics also question whether the expansion can deliver its projected returns. Capital Requirements and Operational Challenges
• Negative Sentiment: Valuation concerns have become more important after the rally: Chevron is trading near the upper end of its recent range, while reported insider activity has consisted of sales rather than purchases. A decline in oil prices could further pressure earnings and the stock.

Insider Activity at Chevron

In other Chevron news, CEO Michael Wirth sold 317,100 shares of the company'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 completion of the transaction, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Hess sold 710,665 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.10, for a total value of $137,940,076.50. Following the transaction, the director directly owned 363,711 shares in the company, valued at approximately $70,596,305.10. The trade was a 66.15% 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. Insiders own 0.56% of the company's stock.

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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