Empirical Asset Management LLC Invests $1.95 Million in Chevron Corporation $CVX

Key Points

• Empirical Asset Management initiated a $1.95 million Chevron position by purchasing 11,765 shares during the second quarter. Institutional investors collectively own 72.42% of CVX.
• Chevron reported quarterly earnings of $6.06 per share, exceeding estimates of $5.55, while revenue rose 57.4% year over year to $67.2 billion. The company also declared a quarterly dividend of $1.78 per share, representing a 3.5% annualized yield.
• Analyst sentiment remains favorable, with 20 Buy ratings, five Holds and one Sell, producing a consensus “Moderate Buy” rating and a price target near $207.48. However, insiders sold more than 1.15 million shares worth approximately $225.3 million over the past 90 days.

Empirical Asset Management LLC bought a new position in Chevron Corporation (NYSE:CVX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,765 shares of the oil and gas company's stock, valued at approximately $1,950,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Chevron during the 2nd quarter worth approximately $25,663,729,000. Norges Bank bought a new position in shares of Chevron during the 4th quarter valued at approximately $3,727,586,000. Bank of New York Mellon Corp purchased a new position in shares of Chevron in the second quarter valued at $2,378,114,000. State Street Corp grew its holdings 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 in the last quarter. Finally, Berkshire Hathaway Inc increased its position in Chevron by 6.6% in 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 last quarter. 72.42% of the stock is owned by institutional investors.

Insider Activity at Chevron

In related news, Director John B. Hess sold 710,665 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.10, for a total value of $137,940,076.50. Following the sale, the director directly owned 363,711 shares of the company's stock, valued at $70,596,305.10. This represents a 66.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew Benjamin Walz sold 16,800 shares of the firm's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the sale, the insider directly owned 14 shares of the company's stock, valued at approximately $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 ninety days, insiders have sold 1,150,112 shares of company stock worth $225,347,040. Insiders own 0.56% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CVX. Zacks Research downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. Piper Sandler began coverage on shares of Chevron in a report on Thursday, July 23rd. They issued an "overweight" rating and a $207.00 target price on the stock. The Goldman Sachs Group restated a "buy" rating and issued a $216.00 target price on shares of Chevron in a report on Wednesday, May 6th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. Finally, Scotiabank lifted their price target on Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Twenty analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Chevron has a consensus rating of "Moderate Buy" and a consensus price target of $207.48.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron announced an oil and gas condensate discovery at the 105-4X well in offshore Angola’s Block 0. The well encountered a hydrocarbon column exceeding 600 meters and more than 90 meters of net pay; its proximity to existing infrastructure could allow a relatively low-cost tie-back and support future production growth. Chevron Angola discovery article
• Positive Sentiment: Equinor agreed to acquire a 17.4% interest in Chevron-operated exploration licence PEL 90 offshore Namibia. The partnership shares exploration costs while Chevron retains operatorship, reducing financial exposure ahead of a planned 2026 drilling program in the Orange Basin. Equinor Namibia stake article
• Positive Sentiment: Traders purchased 62,675 CVX call options, roughly 45% above typical volume, signaling increased near-term bullish interest.
• Positive Sentiment: Chevron’s quarterly dividend of $1.78 per share is scheduled for September 10, representing a $7.12 annualized payout and an approximately 3.5% yield. The dividend supports CVX’s appeal to income-focused investors.
• Neutral Sentiment: Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $207.13, although the target implies limited upside from recent levels.
• Negative Sentiment: CEO Michael Wirth sold 317,100 shares for approximately $63.6 million, reducing his reported ownership by 92.34%. Another insider, Andrew Benjamin Walz, sold 16,800 shares for about $3.4 million. The transactions may weigh on sentiment, although insider sales can reflect personal or scheduled financial planning. Chevron insider filing
• Negative Sentiment: Recent weakness in oil prices remains a risk because lower commodity prices can reduce Chevron’s upstream revenue, earnings and cash flow.

Chevron Stock Up 0.0%

Shares of CVX opened at $205.78 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average of $184.27 and a 200 day moving average of $187.75. The company has a market cap of $406.57 billion, a PE ratio of 19.73, a P/E/G ratio of 0.63 and a beta of 0.49. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share 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 analysts' expectations of $62.72 billion. During the same quarter in the previous year, the business posted $1.77 earnings per share. The business's revenue was up 57.4% compared to the same quarter last year. On average, sell-side analysts expect that Chevron Corporation will post 15.86 EPS for the current year.

Chevron Dividend Announcement

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

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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