Great Lakes Advisors LLC Invests $18.38 Million in Chevron Corporation $CVX

Key Points

• Great Lakes Advisors acquired 110,906 Chevron shares worth approximately $18.38 million during the second quarter, while institutional investors collectively own 72.42% of the company.
• Chevron reported strong quarterly results, with EPS of $6.06 beating estimates and revenue rising 57.4% year over year to $67.20 billion. The company also declared a $1.78 quarterly dividend, equivalent to a 3.5% annualized yield.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target near $207, but significant insider selling—including the CEO’s $63.6 million stock sale—and weaker oil prices pose potential risks.

Great Lakes Advisors LLC acquired a new stake in Chevron Corporation (NYSE:CVX - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 110,906 shares of the oil and gas company's stock, valued at approximately $18,384,000.

Other institutional investors have also made changes to their positions in the company. United Bank boosted its position in Chevron by 7.7% during the second quarter. United Bank now owns 11,079 shares of the oil and gas company's stock valued at $1,586,000 after purchasing an additional 796 shares during the last quarter. Schnieders Capital Management LLC. raised its stake in shares of Chevron by 9.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company's stock worth $7,280,000 after purchasing an additional 4,214 shares in the last quarter. BNP Paribas boosted its holdings in shares of Chevron by 76.4% in the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company's stock valued at $63,000 after buying an additional 191 shares during the last quarter. Osterweis Capital Management Inc. boosted its holdings in shares of Chevron by 678.9% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company's stock valued at $195,000 after buying an additional 1,188 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew its stake in shares of Chevron by 3.6% in the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company's stock valued at $2,299,000 after buying an additional 553 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Insider Buying and Selling

In related news, Director John B. Hess sold 100,000 shares of the business's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the sale, the director directly owned 178,045 shares in the company, valued at $34,587,021.70. The trade was a 35.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael K. Wirth sold 317,100 shares of the company's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value 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 approximately $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,150,112 shares of company stock valued at $225,347,040. Insiders own 0.56% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. UBS Group restated a "buy" rating on shares of Chevron in a report on Tuesday, June 23rd. Morgan Stanley lifted their price objective on shares of Chevron from $210.00 to $218.00 and gave the company an "overweight" rating in a research report on Wednesday. Sanford C. Bernstein upped their target price on shares of Chevron from $204.00 to $209.00 and gave the company a "market perform" rating in a report on Monday, August 3rd. Barclays cut their target price on shares of Chevron from $216.00 to $208.00 and set an "equal weight" rating for the company in a research note on Monday. Finally, Weiss Ratings upgraded Chevron from a "hold (c)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Twenty equities 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 company. Based on data from MarketBeat.com, Chevron has an average rating of "Moderate Buy" and an average price target of $207.48.

Trending Headlines about Chevron

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%

Chevron stock opened at $205.78 on Thursday. The stock has a market cap of $406.57 billion, a P/E ratio of 19.73, a P/E/G ratio of 0.63 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 twelve month low of $146.49 and a twelve month high of $214.71. The company's 50-day moving average price is $184.27 and its two-hundred day moving average price is $187.75.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. During the same period last year, the business posted $1.77 earnings per share. The business's revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, 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 of this dividend is Wednesday, August 19th. Chevron's dividend payout ratio (DPR) 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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