CoreCap Advisors LLC Boosts Stake in Chevron Corporation $CVX

Key Points

• CoreCap Advisors increased its Chevron stake by 39.7% in the second quarter, purchasing 11,152 additional shares and bringing its holdings to 39,246 shares worth approximately $6.5 million.
• Chevron reported quarterly results above expectations, with EPS of $6.06 versus the $5.55 consensus and revenue of $67.2 billion. The company also maintained its $1.78 quarterly dividend, equivalent to a 3.8% annual yield.
• Institutional investors own 72.42% of Chevron, while analysts give the stock a “Moderate Buy” consensus rating and an average price target of $207.48. However, significant insider selling—including Director John B. Hess’s sale of 100,000 shares—could weigh on sentiment.

CoreCap Advisors LLC boosted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 39.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 39,246 shares of the oil and gas company's stock after purchasing an additional 11,152 shares during the period. CoreCap Advisors LLC's holdings in Chevron were worth $6,505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its stake 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 valued at $23,698,184,000 after purchasing an additional 12,789,399 shares during the period. Berkshire Hathaway Inc boosted its position in Chevron by 6.6% in the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock valued at $19,837,131,000 after buying an additional 8,091,570 shares during the period. Geode Capital Management LLC boosted its position in Chevron by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company's stock valued at $6,620,187,000 after buying an additional 134,890 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company's stock worth $5,492,377,000 after acquiring an additional 961,341 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Chevron by 5.1% in the first quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company's stock worth $5,716,694,000 after acquiring an additional 1,334,976 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

NYSE:CVX opened at $186.48 on Thursday. The firm has a market capitalization of $371.40 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 0.59 and a beta of 0.49. The business's fifty day moving average price is $182.18 and its 200 day moving average price is $185.64. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. 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 quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.55 by $0.51. The company had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a return on equity of 11.14% and a net margin of 9.57%.Chevron's revenue for the quarter was up 57.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.77 EPS. On average, sell-side analysts anticipate that Chevron Corporation will post 15.72 earnings per share for the current fiscal year.

Chevron Announces Dividend

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 given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron's dividend payout ratio (DPR) is 68.26%.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 100,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director owned 178,045 shares in the company, valued at $34,587,021.70. The trade was 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 through the SEC website. Over the last quarter, insiders sold 1,190,665 shares of company stock worth $230,782,076. 0.56% of the stock is currently owned by company insiders.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s strong second-quarter performance continues to support the investment case: revenue reached approximately $70.1 billion, net income was $12.1 billion, production increased, and the company maintained its $1.78 quarterly dividend. Higher oil prices and refining margins boosted results. Chevron war-boosted margins and cash flows article
• Positive Sentiment: Chevron was cited among S&P 500 companies expected to generate substantial free cash flow this year, reinforcing its ability to fund dividends, buybacks and debt obligations. Its above-average income yield also makes the stock attractive to dividend-focused investors. Stocks with strong cash flow article
• Positive Sentiment: TD Cowen raised its Chevron price target from $200 to $205, while separate reports indicated that Barclays and Sanford C. Bernstein analysts also expect the shares to rise. However, TD Cowen retained a “hold” rating, limiting the bullish impact. TD Cowen price target report
• Neutral Sentiment: CEO Mike Wirth said Chevron is studying a pipeline route through Iraq toward Syria or Turkey to bypass the Strait of Hormuz. The project could improve Middle East export flexibility, but it remains only under evaluation and faces significant geopolitical and execution risks. Chevron pipeline route article
• Negative Sentiment: Director John B. Hess sold a combined 810,665 Chevron shares worth roughly $157.4 million, sharply reducing his holdings. Although insider sales may reflect personal or transaction-related factors, the size of the sale can weigh on investor sentiment. Chevron SEC insider transaction filing
• Negative Sentiment: President Donald Trump criticized Chevron and ExxonMobil for profiting from elevated gasoline prices and called for companies to reduce consumer fuel prices or return some profits to the public. The comments raise regulatory, political and potential windfall-tax concerns, even though higher energy prices are currently benefiting Chevron’s earnings. Trump criticizes Chevron over profits article

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CVX shares. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $216.00 price target on shares of Chevron in a research report on Wednesday, May 6th. Mizuho set a $224.00 price objective on Chevron in a research report on Monday. Royal Bank Of Canada restated an "outperform" rating and set a $220.00 target price on shares of Chevron in a research note on Tuesday, May 5th. Weiss Ratings cut shares of Chevron from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 2nd. Finally, UBS Group reiterated a "buy" rating on shares of Chevron in a research note on Tuesday, June 23rd. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $207.48.

Chevron 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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