Madison Asset Management LLC Invests $26.35 Million in Chevron Corporation $CVX

Key Points

• Madison Asset Management acquired 158,990 Chevron shares during the second quarter, worth approximately $26.35 million. Institutional investors collectively own 72.42% of CVX.
• Chevron reported strong quarterly results, with $6.06 in EPS and $67.2 billion in revenue, while maintaining a $1.78 quarterly dividend, equivalent to a 3.5% annualized yield.
• Positive developments include an offshore Angola discovery and Equinor’s investment in a Chevron-operated Namibia exploration license, but sentiment faces risks from substantial insider selling and weaker oil prices.

Madison Asset Management LLC acquired a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 158,990 shares of the oil and gas company's stock, valued at approximately $26,354,000.

Several other large investors have also bought and sold shares of CVX. Midwest Capital Advisors LLC bought a new position in shares of Chevron in the first quarter worth about $25,000. Core Wealth Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $26,000. Phillip James Consulting Co. bought a new stake in shares of Chevron during the 4th quarter valued at approximately $26,000. Basso Capital Management L.P. bought a new stake in shares of Chevron during the 4th quarter valued at approximately $27,000. Finally, Karpus Management Inc. acquired a new position in shares of Chevron during the fourth quarter worth $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John B. Hess sold 100,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the transaction, the director owned 178,045 shares of the company's stock, valued at $34,587,021.70. This represents a 35.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael K. Wirth sold 317,100 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer owned 26,308 shares of the company's stock, 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. Over the last ninety days, insiders sold 1,150,112 shares of company stock worth $225,347,040. 0.56% of the stock is currently owned by company insiders.

Chevron News Roundup

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 Performance

Shares of CVX opened at $205.78 on Thursday. The stock has a market capitalization of $406.57 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 0.63 and a beta of 0.49. 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 firm's fifty day simple moving average is $184.27 and its two-hundred day simple moving average is $187.75. 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 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same quarter in the prior year, the company earned $1.77 EPS. The firm's revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, analysts predict that Chevron Corporation will post 15.86 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.5%. Chevron's dividend payout ratio is currently 68.26%.

Analyst Ratings Changes

CVX has been the topic of a number of research reports. Bank of America boosted their price objective on Chevron from $210.00 to $227.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. Jefferies Financial Group reiterated a "buy" rating and issued a $216.00 target price on shares of Chevron in a research report on Friday, July 10th. Piper Sandler started coverage on Chevron in a research note on Thursday, July 23rd. They set an "overweight" rating and a $207.00 price target on the stock. Finally, Wall Street Zen upgraded Chevron from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Twenty 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.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $207.48.

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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