Evanson Financial LLC Purchases Shares of 16,254 Chevron Corporation $CVX

Key Points

• Evanson Financial LLC acquired 16,254 Chevron shares worth approximately $2.7 million in the second quarter, while institutional investors and hedge funds collectively own 72.42% of CVX.
• Chevron’s latest quarter exceeded expectations, with EPS of $6.06 versus the $5.55 consensus and revenue of $67.2 billion. The company also declared a quarterly dividend of $1.78 per share, equivalent to a 3.8% annualized yield.
• Director John B. Hess sold 710,665 shares for roughly $137.9 million, reducing his Chevron holdings by 66.15%. Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $207.48.

Evanson Financial LLC acquired a new position in Chevron Corporation (NYSE:CVX - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 16,254 shares of the oil and gas company's stock, valued at approximately $2,694,000.

Several other institutional investors also recently modified their holdings of the company. Midwest Capital Advisors LLC acquired a new position in shares of Chevron in the 1st quarter valued at $25,000. Core Wealth Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at approximately $26,000. Phillip James Consulting Co. acquired a new position in Chevron in the fourth quarter worth $26,000. Basso Capital Management L.P. acquired a new position in Chevron during the 4th quarter worth about $27,000. Finally, Karpus Management Inc. bought a new stake in shares of Chevron during the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Insiders Place Their Bets

In other news, Director John B. Hess sold 710,665 shares of Chevron stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the sale, the director owned 363,711 shares of the company's stock, valued at approximately $70,596,305.10. This trade represents a 66.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 1,190,665 shares of company stock worth $230,782,076. 0.56% of the stock is owned by company insiders.

Chevron Price Performance

Shares of NYSE CVX opened at $189.00 on Friday. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The business's 50 day moving average price is $182.29 and its two-hundred day moving average price is $185.80. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a market cap of $376.40 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 0.57 and a beta of 0.49.

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, beating 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 return on equity of 11.14% and a net margin of 9.57%.The company's quarterly revenue was up 57.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 EPS. On average, analysts predict that Chevron Corporation will post 15.88 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $1.78 per share. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. Chevron's dividend payout ratio (DPR) is 68.26%.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Major profit rebound: Chevron reported approximately $12.1 billion in quarterly net income, versus $2.5 billion a year earlier. Results benefited from higher energy prices and supply disruptions linked to the Iran conflict, highlighting the company’s ability to generate cash during periods of market volatility. Chevron Turned $3.1 Billion Loss Into A Gain In One Quarter Amid Heightened Volatility During Iran War
• Positive Sentiment: Operational and financial improvements: Recent coverage points to record production, billions of dollars in debt reduction and a 20-year power agreement with Microsoft for artificial-intelligence infrastructure. These developments strengthen Chevron’s long-term growth profile and balance sheet. Wall Street Is Bullish on Chevron Stock
• Positive Sentiment: TD Cowen raised its Chevron price target from $200 to $205 while maintaining a Hold rating. Chevron is also being highlighted as a cash-flow and dividend-focused energy investment, which may appeal to income-oriented investors. Beyond Oil Prices: The Case for 3 Dividend-Paying Energy Giants
• Neutral Sentiment: Chevron is expanding its North American base-oils distribution network through new partnerships, potentially improving downstream reach and product mix over time. Chevron Broadens North American Base Oils Distribution Network
• Negative Sentiment: Political criticism is increasing as President Trump accuses Chevron and other oil companies of profiting excessively while U.S. gasoline prices rise. This creates potential regulatory, reputational or windfall-tax risks. Trump Rips Exxon and Chevron for Making Too Much Money
• Negative Sentiment: Director John B. Hess sold roughly 810,665 shares worth about $157 million, substantially reducing his holdings. Although insider sales can be planned for personal reasons, the transaction may weigh on investor sentiment.

Analyst Ratings Changes

CVX has been the topic of several research reports. Morgan Stanley cut their price target on Chevron from $214.00 to $210.00 and set an "overweight" rating on the stock in a research note on Monday, June 29th. Wolfe Research raised shares of Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price target on the stock in a research report on Thursday, July 2nd. Weiss Ratings lowered Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 2nd. Piper Sandler assumed coverage on Chevron in a report on Thursday, July 23rd. They set an "overweight" rating and a $207.00 target price for the company. Finally, Wells Fargo & Company raised their price target on shares of Chevron from $204.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Chevron currently has a consensus rating of "Moderate Buy" and an average target price of $207.48.

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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