Fulcrum Asset Management LLP Raises Stock Holdings in Chevron Corporation $CVX

Key Points

• Fulcrum Asset Management increased its Chevron stake by 54.8% in the second quarter to 32,955 shares valued at approximately $5.55 million. Institutional investors collectively own 72.42% of Chevron’s stock.
• Chevron reported quarterly EPS of $6.06, exceeding estimates, while revenue rose 57.4% year over year to $67.2 billion. The company also declared a $1.78 quarterly dividend, equal to a 3.5% annualized yield.
• Analysts maintain a “Moderate Buy” consensus with a $207.48 target price, while potential Venezuelan oil-field investments could support long-term growth but face political, sanctions and commodity-price risks.

Fulcrum Asset Management LLP raised its stake in Chevron Corporation (NYSE:CVX - Free Report) by 54.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,955 shares of the oil and gas company's stock after buying an additional 11,669 shares during the quarter. Fulcrum Asset Management LLP's holdings in Chevron were worth $5,552,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CVX. Blue Capital Inc. acquired a new position in shares of Chevron in the second quarter worth $786,000. OneAscent Wealth Management LLC acquired a new stake in shares of Chevron in the second quarter valued at $973,000. Global Retirement Partners LLC purchased a new position in Chevron in the second quarter valued at $14,276,000. Indivisible Partners acquired a new position in Chevron during the 4th quarter worth $1,923,000. Finally, Janney Montgomery Scott LLC grew its stake in Chevron by 6.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company's stock worth $258,853,000 after purchasing an additional 79,439 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is reportedly nearing a deal to migrate all of its Venezuelan joint ventures into a new energy framework, potentially allowing greater operational control and key oilfield expansions. The company already accounts for roughly one-quarter of Venezuela’s oil production. Reuters: Chevron to complete deal in Venezuela to migrate, expand oil projects
• Positive Sentiment: Reports indicate Chevron and oil-services company Halliburton are close to agreements to invest billions of dollars in Venezuelan fields. For Chevron, the opportunity could create a long-term production-growth platform and strengthen its position if Venezuela moves further away from OPEC restrictions. Wall Street Journal: Chevron, Other U.S. Firms Near Deal to Invest Billions in Venezuelan Oil Fields
• Neutral Sentiment: Analyst-oriented coverage is comparing Chevron’s performance with TotalEnergies, while other reports highlight Chevron’s investments in nuclear-fusion technology. Fusion could eventually diversify the company beyond hydrocarbons, but the projects remain experimental and are unlikely to materially affect near-term earnings. Yahoo Finance: What Does Chevron Want From Its Nuclear Fusion Push?
• Negative Sentiment: Venezuelan opposition groups have criticized reports that U.S. companies could receive a large stake in the country’s energy industry. Political resistance, sanctions or regulatory uncertainty could delay the agreement, raise investment costs or limit the expected benefits. The Guardian: Venezuelan opposition reacts to potential U.S. oil stake
• Negative Sentiment: Dividend-focused coverage notes that Chevron’s payout remains exposed to commodity-price cycles. Although the dividend is supported by the company’s scale and balance sheet, weaker oil prices or heavy Venezuelan investment requirements could pressure future cash-flow flexibility. 247WallSt: Chevron or PepsiCo: Whose Dividend Is Standing on Thinner Ice?

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. TD Cowen increased their price target on Chevron from $200.00 to $205.00 and gave the company a "hold" rating in a research report on Wednesday, August 5th. Wolfe Research raised Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price objective for the company in a research report on Thursday, July 2nd. The Goldman Sachs Group restated a "buy" rating and set a $216.00 target price on shares of Chevron in a research note on Wednesday, May 6th. Zacks Research cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Finally, Dbs Bank upgraded shares of Chevron to a "moderate buy" rating in a research note on Thursday, August 6th. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $207.48.

Insider Activity at Chevron

In other news, Director John B. Hess sold 710,665 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were 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 in the company, valued at approximately $70,596,305.10. The trade was a 66.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R. Hewitt Pate sold 2,470 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total transaction of $506,621.70. Following the completion of the transaction, the insider owned 10,794 shares of the company's stock, valued at approximately $2,213,957.34. The trade was a 18.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,152,582 shares of company stock valued at $225,853,661. Company insiders own 0.56% of the company's stock.

Chevron Stock Up 1.1%

Shares of NYSE CVX opened at $202.04 on Friday. The company has a market capitalization of $399.18 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49. 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 business has a 50-day moving average of $187.44 and a two-hundred day moving average of $188.85. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $214.71.

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, beating analysts' consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. During the same quarter in the prior year, the business posted $1.77 EPS. The business's revenue for the quarter was up 57.4% on a year-over-year basis. On average, analysts forecast that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a $1.78 dividend. 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 currently 68.26%.

About Chevron

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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