Daiichi Life Insurance Co. Ltd. Purchases New Stake in Chevron Corporation $CVX

Daiichi Life Insurance Co. Ltd. acquired a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 70,088 shares of the oil and gas company's stock, valued at approximately $11,618,000.

Other large investors have also recently bought and sold shares of the company. Commerce Bank purchased a new position in Chevron in the second quarter worth $98,806,000. GQG Partners LLC purchased a new stake in shares of Chevron during the 2nd quarter worth $716,387,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Chevron during the 2nd quarter worth $161,330,000. Academy Capital Management acquired a new position in shares of Chevron during the 2nd quarter worth $289,000. Finally, CFO4Life Group LLC acquired a new position in shares of Chevron during the 2nd quarter worth $706,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

CVX has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Chevron from $210.00 to $218.00 and gave the company an "overweight" rating in a research note on Wednesday. UBS Group restated a "buy" rating on shares of Chevron in a research report on Tuesday, June 23rd. Mizuho set a $224.00 target price on shares of Chevron in a report on Monday, August 3rd. Jefferies Financial Group reaffirmed a "buy" rating and issued a $216.00 target price on shares of Chevron in a report on Friday, July 10th. Finally, Barclays reduced their price target on shares of Chevron from $216.00 to $208.00 and set an "equal weight" rating for the company in a research report on Monday, August 17th. Twenty research 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 presently has an average rating of "Moderate Buy" and an average target price of $207.48.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 317,100 shares of Chevron stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the completion of the transaction, the chief executive officer directly owned 26,308 shares in the company, valued at $5,273,701.68. The trade was a 92.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the insider owned 14 shares in the company, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,152,582 shares of company stock valued at $225,853,661. Company insiders own 0.56% of the company's stock.

Chevron Trading Down 0.3%

Shares of CVX stock opened at $205.25 on Friday. The stock has a market cap of $405.53 billion, a P/E ratio of 19.68, a P/E/G ratio of 0.61 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The business has a fifty day simple moving average of $185.03 and a 200-day simple moving average of $188.07.

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, topping the consensus estimate of $5.55 by $0.51. The business had revenue of $67.20 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.77 EPS. On average, analysts forecast that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Key Stories Impacting Chevron

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

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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