Clear Harbor Asset Management LLC Acquires Shares of 17,386 Chevron Corporation $CVX

Key Points

• Clear Harbor Asset Management acquired 17,386 Chevron shares during the second quarter, worth approximately $2.88 million. Institutional investors collectively own 72.42% of Chevron.
• Chevron reported quarterly earnings of $6.06 per share and revenue of $67.20 billion, exceeding analyst expectations; analysts maintain a “Moderate Buy” consensus with an average price target of $207.48.
• Chevron’s $1.78 quarterly dividend provides a 3.5% annualized yield, while recent insider selling—including 19,270 shares sold by two insiders—may create a modest sentiment overhang.

Clear Harbor Asset Management LLC purchased a new stake in Chevron Corporation (NYSE:CVX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,386 shares of the oil and gas company's stock, valued at approximately $2,882,000.

Several other institutional investors have also modified their holdings of CVX. BlackRock Inc. acquired a new stake in shares of Chevron in the second quarter valued at approximately $25,663,729,000. Norges Bank acquired a new position in Chevron in the fourth quarter valued at $3,727,586,000. Bank of New York Mellon Corp purchased a new stake in Chevron in the 2nd quarter valued at about $2,378,114,000. State Street Corp boosted its position in shares of Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock worth $23,698,184,000 after acquiring an additional 12,789,399 shares during the last quarter. Finally, Berkshire Hathaway Inc raised its stake in Chevron by 6.6% during the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock worth $19,837,131,000 after purchasing an additional 8,091,570 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Buying and Selling

In other Chevron news, insider R. Hewitt Pate sold 2,470 shares of the firm'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 in the company, valued at $2,213,957.34. This trade represents a 18.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Andrew Benjamin Walz sold 16,800 shares of the stock in a transaction on 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 of the company's stock, valued at $2,814.84. The trade was a 99.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,152,582 shares of company stock valued at $225,853,661. 0.56% of the stock is currently owned by company insiders.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Brent crude recently approached $94–$95 per barrel amid renewed Middle East tensions and concerns about Strait of Hormuz disruptions. Sustained higher oil prices typically benefit Chevron’s upstream revenue, margins and cash flow. Chevron jumps as Brent crude approaches $94
• Positive Sentiment: Chevron confirmed an oil and gas condensate discovery at the 105-4X well in offshore Angola. Its proximity to existing facilities could allow a lower-cost tie-back, creating a potential source of future production. Chevron Angola discovery analysis
• Positive Sentiment: Chevron’s $1.78 quarterly dividend, equal to $7.12 annually and an approximately 3.5% yield, reinforces its appeal to income investors. The company also recently exceeded quarterly earnings and revenue expectations. Chevron raises dividend
• Neutral Sentiment: Analysis comparing Chevron with Exxon Mobil highlights differing long-term strategies, including Chevron’s continued emphasis on oil and gas. The approach could benefit from strong commodity prices but leaves CVX more exposed to future oil-demand and price cycles. Chevron versus Exxon Mobil analysis
• Negative Sentiment: Iraq plans to more than double its oil output over the next six years. If achieved, the added supply could pressure global crude prices and reduce the earnings benefit Chevron receives from today’s elevated prices. Iraq oil output and Chevron
• Negative Sentiment: Two Chevron insiders sold shares recently: Andrew Benjamin Walz sold 16,800 shares, while R. Hewitt Pate sold 2,470 shares. Although such transactions may reflect personal financial planning, they can create a modest sentiment overhang. Chevron insider sale report
• Negative Sentiment: A separate analysis says concerns remain centered on Chevron, including issues surrounding its Hess Midstream exposure and broader execution risks. The report may temper enthusiasm after CVX’s recent advance. Hess Midstream: The Issue Remains With Chevron

Wall Street Analyst Weigh In

A number of equities analysts have commented on CVX shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. Wolfe Research raised shares of Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price objective for the company in a report on Thursday, July 2nd. Wall Street Zen upgraded Chevron from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. TD Cowen lifted their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a "hold" rating in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. Twenty 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $207.48.

Chevron Trading Down 0.3%

Chevron stock opened at $205.25 on Friday. The firm has a 50 day simple moving average of $185.03 and a 200-day simple moving average of $188.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The stock has a market capitalization of $405.53 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 0.61 and a beta of 0.49. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $62.72 billion. During the same quarter in the previous year, the company earned $1.77 earnings per share. The firm's quarterly revenue was up 57.4% compared to the same quarter last year. As a group, equities research analysts expect that Chevron Corporation will post 16.17 EPS for the current fiscal year.

Chevron Announces Dividend

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

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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