Meiji Yasuda Asset Management Co Ltd. Buys Shares of 44,974 Chevron Corporation $CVX

Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 44,974 shares of the oil and gas company's stock, valued at approximately $7,455,000.

Other hedge funds have also made changes to their positions in the company. Blue Capital Inc. acquired a new stake in Chevron during the 2nd quarter worth about $786,000. OneAscent Wealth Management LLC purchased a new position in shares of Chevron in the second quarter worth approximately $973,000. Global Retirement Partners LLC acquired a new stake in shares of Chevron during the second quarter valued at approximately $14,276,000. Indivisible Partners purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $1,923,000. Finally, Janney Montgomery Scott LLC boosted its stake in Chevron by 6.8% in 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 during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wolfe Research raised shares of Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 target price on the stock in a research note on Thursday, July 2nd. Bank of America upped their price target on Chevron from $210.00 to $227.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Morgan Stanley raised their price objective on Chevron from $210.00 to $218.00 and gave the stock an "overweight" rating in a research report on Wednesday. Piper Sandler assumed coverage on shares of Chevron in a research report on Thursday, July 23rd. They issued an "overweight" rating and a $207.00 price target for the company. Finally, Jefferies Financial Group restated a "buy" rating and set a $216.00 price target on shares of Chevron in a report on Friday, July 10th. Twenty investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of "Moderate Buy" and an average target price of $207.48.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Brent crude recently approached $94–$95 per barrel amid renewed Middle East tensions and concerns about Strait of Hormuz disruptions. Sustained higher oil prices typically benefit Chevron’s upstream revenue, margins and cash flow. Chevron jumps as Brent crude approaches $94
• Positive Sentiment: Chevron confirmed an oil and gas condensate discovery at the 105-4X well in offshore Angola. Its proximity to existing facilities could allow a lower-cost tie-back, creating a potential source of future production. Chevron Angola discovery analysis
• Positive Sentiment: Chevron’s $1.78 quarterly dividend, equal to $7.12 annually and an approximately 3.5% yield, reinforces its appeal to income investors. The company also recently exceeded quarterly earnings and revenue expectations. Chevron raises dividend
• Neutral Sentiment: Analysis comparing Chevron with Exxon Mobil highlights differing long-term strategies, including Chevron’s continued emphasis on oil and gas. The approach could benefit from strong commodity prices but leaves CVX more exposed to future oil-demand and price cycles. Chevron versus Exxon Mobil analysis
• Negative Sentiment: Iraq plans to more than double its oil output over the next six years. If achieved, the added supply could pressure global crude prices and reduce the earnings benefit Chevron receives from today’s elevated prices. Iraq oil output and Chevron
• Negative Sentiment: Two Chevron insiders sold shares recently: Andrew Benjamin Walz sold 16,800 shares, while R. Hewitt Pate sold 2,470 shares. Although such transactions may reflect personal financial planning, they can create a modest sentiment overhang. Chevron insider sale report
• Negative Sentiment: A separate analysis says concerns remain centered on Chevron, including issues surrounding its Hess Midstream exposure and broader execution risks. The report may temper enthusiasm after CVX’s recent advance. Hess Midstream: The Issue Remains With Chevron

Insider Buying and Selling

In other news, Director John B. Hess sold 100,000 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the completion of the sale, the director owned 178,045 shares in the company, valued at approximately $34,587,021.70. This represents a 35.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael K. Wirth sold 317,100 shares of the firm's stock in a transaction that occurred 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 $5,273,701.68. The trade was a 92.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,152,582 shares of company stock worth $225,853,661. Insiders own 0.56% of the company's stock.

Chevron Trading Down 0.0%

Shares of NYSE CVX opened at $205.25 on Monday. The stock has a market cap of $405.53 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 0.61 and a beta of 0.49. The business has a 50 day simple moving average of $185.03 and a 200 day simple moving average of $188.17. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.55 by $0.51. The company had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company's revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.77 earnings per share. On average, research analysts predict that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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 given a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.5%. Chevron's payout ratio is currently 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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