Integrated Wealth Concepts LLC Acquires 11,795 Shares of Chevron Corporation $CVX

Key Points

• Institutional ownership remains strong: Integrated Wealth Concepts increased its Chevron stake by 8.5% to 150,114 shares valued at $24.9 million. Institutional investors collectively own 72.42% of the company.
• Venezuela expansion could drive growth: Chevron plans to more than double its Venezuelan drilling activity and invest over $7 billion over five years, targeting production of approximately 600,000 barrels per day. The strategy carries political, sanctions and operational risks.
• Analyst sentiment and results are favorable: Chevron has a “Moderate Buy” consensus rating with a $211.35 target price, while its latest quarterly earnings and revenue exceeded estimates. Shares opened at $210.09, near their 52-week high, and the company maintains a $1.78 quarterly dividend.

Integrated Wealth Concepts LLC raised its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,114 shares of the oil and gas company's stock after purchasing an additional 11,795 shares during the period. Integrated Wealth Concepts LLC's holdings in Chevron were worth $24,883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System lifted its position in shares of Chevron by 19,425.5% during the second quarter. California State Teachers Retirement System now owns 432,663,934 shares of the oil and gas company's stock worth $71,718,374,000 after acquiring an additional 430,448,040 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Chevron during the 2nd quarter valued at $25,663,729,000. Norges Bank purchased a new stake in Chevron during the 4th quarter worth about $3,727,586,000. Bank of New York Mellon Corp purchased a new stake in Chevron during the 2nd quarter worth about $2,378,114,000. Finally, State Street Corp boosted its stake in 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 purchasing an additional 12,789,399 shares during the period. 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: 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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CVX. Wall Street Zen raised Chevron from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. BMO Capital Markets raised their price objective on shares of Chevron from $210.00 to $235.00 and gave the company an "outperform" rating in a research report on Thursday, September 3rd. Weiss Ratings raised shares of Chevron from a "hold (c)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Sanford C. Bernstein upped their target price on shares of Chevron from $204.00 to $209.00 and gave the stock a "market perform" rating in a report on Monday, August 3rd. Finally, Morgan Stanley increased their target price on shares of Chevron from $210.00 to $218.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 19th. Twenty investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.35.

Insider Activity at Chevron

In other Chevron 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 transaction of $3,377,808.00. Following the sale, the insider owned 14 shares in the company, 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 SEC, which is available at this hyperlink. Also, insider R. Pate sold 2,470 shares of Chevron stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total value of $506,621.70. Following the sale, the insider directly owned 10,794 shares of the company's stock, valued at approximately $2,213,957.34. This trade represents a 18.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, 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 Stock Up 0.7%

Shares of NYSE CVX opened at $210.09 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average of $192.79 and a 200-day moving average of $190.20. The firm has a market capitalization of $415.08 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 0.61 and a beta of 0.50. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results 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 the consensus estimate of $62.72 billion. During the same period last year, the firm posted $1.77 earnings per share. Chevron's quarterly revenue was up 57.4% on a year-over-year basis. Sell-side analysts expect that Chevron Corporation will post 16.51 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron's payout ratio is currently 68.26%.

Chevron Profile

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.

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