NewEdge Advisors LLC Has $250.87 Million Position in Chevron Corporation $CVX

Key Points

• NewEdge Advisors reduced its Chevron stake by 9.2% in the first quarter, selling 122,319 shares and retaining 1.21 million shares valued at approximately $250.9 million. Institutional investors collectively own 72.42% of Chevron.
• Chevron reported quarterly earnings of $6.06 per share, exceeding estimates of $5.55, while revenue rose 57.4% year over year to $67.2 billion. The company also maintained its $1.78 quarterly dividend, representing a 3.8% yield.
• Analysts maintain a generally positive outlook, with 18 Buy, six Hold and one Sell rating and a consensus “Moderate Buy” rating with a $207.48 price target. However, director John B. Hess sold 710,665 shares worth about $137.9 million, and insiders have sold roughly $230.8 million of stock over the past 90 days.

NewEdge Advisors LLC cut its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 9.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,212,537 shares of the oil and gas company's stock after selling 122,319 shares during the period. Chevron comprises approximately 0.9% of NewEdge Advisors LLC's holdings, making the stock its 15th largest position. NewEdge Advisors LLC owned approximately 0.06% of Chevron worth $250,874,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Chevron during the fourth quarter worth $3,727,586,000. State Street Corp grew its stake in Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc increased its position in Chevron by 6.6% in the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock worth $19,837,131,000 after purchasing an additional 8,091,570 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Chevron by 822.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company's stock worth $946,658,000 after purchasing an additional 5,537,580 shares during the last quarter. Finally, Aristotle Capital Management LLC raised its stake in shares of Chevron by 653.0% during the 1st quarter. Aristotle Capital Management LLC now owns 4,526,223 shares of the oil and gas company's stock worth $936,492,000 after purchasing an additional 3,925,137 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CVX shares. Piper Sandler assumed coverage on Chevron in a report on Thursday, July 23rd. They set an "overweight" rating and a $207.00 price target for the company. Jefferies Financial Group reaffirmed a "buy" rating and set a $216.00 price objective on shares of Chevron in a research report on Friday, July 10th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $220.00 target price on shares of Chevron in a research note on Tuesday, May 5th. Scotiabank boosted their target price on shares of Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings lowered shares of Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 2nd. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $207.48.

Insider Activity at Chevron

In other news, Director John B. Hess sold 710,665 shares of Chevron stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total value of $137,940,076.50. Following the transaction, the director owned 363,711 shares of the company's stock, valued at $70,596,305.10. This trade represents a 66.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 1,190,665 shares of company stock valued at $230,782,076 over the last 90 days. Company insiders own 0.56% of the company's stock.

Chevron Stock Performance

CVX opened at $186.48 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The company has a market cap of $371.40 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 0.59 and a beta of 0.49. The stock has a 50-day moving average of $182.18 and a 200-day moving average of $185.64. 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 issued its quarterly earnings data 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 return on equity of 11.14% and a net margin of 9.57%.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 business earned $1.77 EPS. The firm's revenue was up 57.4% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron Corporation will post 15.72 earnings per share for the current fiscal year.

Chevron Announces Dividend

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 issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.8%. The ex-dividend date is Wednesday, August 19th. Chevron's dividend payout ratio (DPR) is 68.26%.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s strong second-quarter performance continues to support the investment case: revenue reached approximately $70.1 billion, net income was $12.1 billion, production increased, and the company maintained its $1.78 quarterly dividend. Higher oil prices and refining margins boosted results. Chevron war-boosted margins and cash flows article
• Positive Sentiment: Chevron was cited among S&P 500 companies expected to generate substantial free cash flow this year, reinforcing its ability to fund dividends, buybacks and debt obligations. Its above-average income yield also makes the stock attractive to dividend-focused investors. Stocks with strong cash flow article
• Positive Sentiment: TD Cowen raised its Chevron price target from $200 to $205, while separate reports indicated that Barclays and Sanford C. Bernstein analysts also expect the shares to rise. However, TD Cowen retained a “hold” rating, limiting the bullish impact. TD Cowen price target report
• Neutral Sentiment: CEO Mike Wirth said Chevron is studying a pipeline route through Iraq toward Syria or Turkey to bypass the Strait of Hormuz. The project could improve Middle East export flexibility, but it remains only under evaluation and faces significant geopolitical and execution risks. Chevron pipeline route article
• Negative Sentiment: Director John B. Hess sold a combined 810,665 Chevron shares worth roughly $157.4 million, sharply reducing his holdings. Although insider sales may reflect personal or transaction-related factors, the size of the sale can weigh on investor sentiment. Chevron SEC insider transaction filing
• Negative Sentiment: President Donald Trump criticized Chevron and ExxonMobil for profiting from elevated gasoline prices and called for companies to reduce consumer fuel prices or return some profits to the public. The comments raise regulatory, political and potential windfall-tax concerns, even though higher energy prices are currently benefiting Chevron’s earnings. Trump criticizes Chevron over profits article

About Chevron

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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