NewEdge Wealth LLC Purchases New Position in Chevron Corporation $CVX

Key Points

• NewEdge Wealth acquired 69,556 Chevron shares during the second quarter, valued at approximately $11.5 million. Institutional investors own 72.42% of Chevron’s stock.
• Chevron reported quarterly EPS of $6.06, beating estimates of $5.55, while revenue rose 57.4% year over year to $67.2 billion. The company also declared a $1.78 quarterly dividend, equal to a 3.5% annualized yield.
• Insiders have been significant sellers, including CEO Michael Wirth, who sold 317,100 shares for about $63.6 million. Analysts remain broadly positive, with a “Moderate Buy” consensus and a target price near $207.

NewEdge Wealth LLC acquired a new position in Chevron Corporation (NYSE:CVX - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 69,556 shares of the oil and gas company's stock, valued at approximately $11,530,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. Midwest Capital Advisors LLC bought a new stake in shares of Chevron in the 1st quarter worth $25,000. Core Wealth Advisors LLC bought a new position in shares of Chevron during the fourth quarter valued at $26,000. Phillip James Consulting Co. bought a new position in shares of Chevron during the fourth quarter valued at $26,000. Basso Capital Management L.P. bought a new position in shares of Chevron during the fourth quarter valued at $27,000. Finally, Karpus Management Inc. bought a new stake in Chevron in the 4th quarter worth about $27,000. 72.42% of the stock is owned by institutional investors.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 317,100 shares of the business's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $200.46, for a total transaction 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 $5,273,701.68. The trade was a 92.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Hess sold 100,000 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the sale, the director owned 178,045 shares of the company's stock, valued at $34,587,021.70. This trade represents a 35.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,150,112 shares of company stock worth $225,347,040. 0.56% of the stock is owned by company insiders.

Chevron Stock Up 0.0%

Chevron stock opened at $205.78 on Thursday. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The stock has a fifty day moving average of $184.27 and a 200 day moving average of $187.75. 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 stock has a market cap of $406.57 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 0.63 and a beta of 0.49.

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 (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.51. The business had revenue of $67.20 billion for the quarter, compared to analysts' expectations of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business's revenue for the quarter was up 57.4% on a year-over-year basis. During the same period last year, the firm posted $1.77 earnings per share. As a group, sell-side analysts predict that Chevron Corporation will post 15.86 EPS for the current year.

Chevron Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wall Street Zen raised Chevron from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Zacks Research downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Wolfe Research upgraded shares of Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price target for the company in a research note on Thursday, July 2nd. Jefferies Financial Group reissued a "buy" rating and set a $216.00 price objective on shares of Chevron in a report on Friday, July 10th. Finally, Morgan Stanley increased their price objective on shares of Chevron from $210.00 to $218.00 and gave the company an "overweight" rating in a research report on Wednesday. Twenty analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $207.48.

Trending Headlines about Chevron

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 Company 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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