IFP Advisors Inc Has $10.92 Million Holdings in Chevron Corporation $CVX

Key Points

• IFP Advisors reduced its Chevron stake by 13.2% in the second quarter, selling 10,006 shares and retaining 65,858 shares valued at approximately $10.92 million.
• Institutional investors own 72.42% of Chevron, while analysts maintain a “Moderate Buy” consensus with an average price target of $211.35.
• Chevron exceeded quarterly earnings and revenue expectations, reporting $6.06 in EPS and $67.20 billion in revenue, and declared an annualized dividend of $7.12 per share, yielding about 3.4%.

IFP Advisors Inc lowered its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 13.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 65,858 shares of the oil and gas company's stock after selling 10,006 shares during the period. IFP Advisors Inc's holdings in Chevron were worth $10,917,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. California State Teachers Retirement System grew its stake in Chevron by 19,425.5% in the 2nd quarter. California State Teachers Retirement System now owns 432,663,934 shares of the oil and gas company's stock valued at $71,718,374,000 after purchasing an additional 430,448,040 shares during the period. BlackRock Inc. bought a new stake in shares of Chevron during the 2nd quarter worth $25,663,729,000. Norges Bank bought a new stake in shares of Chevron during the 4th quarter worth $3,727,586,000. Bank of New York Mellon Corp purchased a new position in shares of Chevron in the 2nd quarter worth about $2,378,114,000. Finally, State Street Corp boosted its holdings in shares of Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock worth $23,698,184,000 after buying an additional 12,789,399 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CVX shares. Bank of America upped their price objective on Chevron from $210.00 to $227.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Wolfe Research raised shares of Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price objective for the company in a report on Thursday, July 2nd. 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 note on Wednesday, August 19th. TD Cowen boosted their target price on shares of Chevron from $200.00 to $205.00 and gave the company a "hold" rating in a report on Wednesday, August 5th. Finally, Dbs Bank upgraded Chevron to a "moderate buy" rating in a research report on Thursday, August 6th. Twenty investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $211.35.

Chevron Stock Performance

NYSE CVX opened at $210.09 on Wednesday. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The company has a market capitalization of $415.08 billion, a P/E ratio of 20.14, a P/E/G ratio of 0.61 and a beta of 0.50. The company has a fifty day moving average of $192.79 and a 200-day moving average of $190.20.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company's revenue was up 57.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.77 EPS. As a group, equities research analysts predict that Chevron Corporation will post 16.51 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.4%. Chevron's payout ratio is presently 68.26%.

Insider Activity

In related news, insider Andrew 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 value of $3,377,808.00. Following the sale, the insider directly owned 14 shares of the company's stock, valued at $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider R. Pate sold 2,470 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the transaction, the insider directly owned 10,794 shares in the company, valued at $2,213,957.34. This trade represents a 18.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,152,582 shares of company stock valued at $225,853,661. 0.56% of the stock is currently owned by insiders.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Venezuela expansion adds production potential: Chevron plans to more than double the number of oil rigs it operates in Venezuela as part of a five-year growth plan. The company’s expanded joint ventures target production of approximately 600,000 barrels per day and include additional acreage in the Carabobo region. The initiative could provide meaningful production growth and leverage Venezuela’s large reserves. Chevron to double oil rigs in Venezuela as part of growth plan
• Positive Sentiment: Large investment signals confidence in long-term growth: Chevron is expected to invest more than $7 billion over five years to expand its Venezuelan operations. Management says strong cash flow and synergies from the Hess transaction give the company financial flexibility to pursue the expansion while continuing to support shareholders. Chevron doubles down on Venezuela with a $7 billion oil bet
• Positive Sentiment: Oil-market backdrop remains supportive: Reports of higher oil prices amid escalating Middle East tensions are supporting energy-sector sentiment and Chevron’s earnings outlook. Analysts have also argued that the company’s rally could continue, citing strong energy prices, earnings and operating fundamentals. Stock Market Today: Dow dives, oil pops
• Neutral Sentiment: Management commentary reinforces the strategy: At Barclays’ energy conference, Chevron executives discussed the Venezuela growth plan and broader operating priorities. Investors will look for additional detail on capital spending, production timing and returns. Chevron presents at Barclays energy conference
• Negative Sentiment: Valuation and geopolitical risks are rising: Chevron has surged more than 40% this year and is close to its 52-week high, leaving less room for disappointment. Venezuela’s political, sanctions and operational risks could delay or reduce the expected benefits of the expansion. Chevron stock is near a record high
• Neutral Sentiment: Dividend appeal remains intact but requires substantial capital: An investor starting from scratch would need more than $146,000 in Chevron shares to generate $5,000 in annual passive income at current dividend levels. This highlights the income potential but is unlikely to be a major near-term trading catalyst. How many shares of Chevron are needed for annual passive income

About Chevron

Chevron Corporation is an integrated energy company engaged in the exploration, production, transportation and sale of crude oil and natural gas. The company also manufactures and markets transportation fuels, lubricants, petrochemicals and additives through operations and brands that include Chevron, Texaco and Caltex.

Chevron's upstream activities include oil and natural gas exploration and production, while its downstream business includes refining, fuel marketing, transportation and related energy services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.