Nissay Asset Management Corp Japan Acquires 36,739 Shares of Chevron Corporation $CVX

Key Points

• Nissay Asset Management increased its Chevron stake by 14.7% in the second quarter, purchasing 36,739 shares to reach 285,903 shares valued at approximately $47.4 million. Institutional investors collectively own 72.42% of Chevron.
• Chevron insiders have been net sellers, with executives selling 1.15 million shares worth about $225.9 million over the past three months. CEO Michael Wirth’s sale reduced his direct ownership by 92.34%.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $207.48. Chevron also beat quarterly earnings and revenue estimates and announced a quarterly dividend of $1.78 per share, yielding about 3.5% annually.

Nissay Asset Management Corp Japan grew its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 14.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 285,903 shares of the oil and gas company's stock after purchasing an additional 36,739 shares during the period. Nissay Asset Management Corp Japan's holdings in Chevron were worth $47,391,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Midwest Capital Advisors LLC acquired a new position in shares of Chevron during the 1st quarter worth about $25,000. Core Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $26,000. Phillip James Consulting Co. bought a new stake in Chevron during the fourth quarter worth about $26,000. Quattro Advisors LLC bought a new stake in shares of Chevron during the 4th quarter worth approximately $27,000. Finally, Karpus Management Inc. bought a new position in shares of Chevron in the fourth quarter valued at $27,000. Institutional investors own 72.42% of the company's stock.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 26,308 shares in the company, valued at $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider R. Hewitt Pate sold 2,470 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total transaction of $506,621.70. Following the completion of the transaction, the insider directly owned 10,794 shares in the company, valued at approximately $2,213,957.34. This represents a 18.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,152,582 shares of company stock worth $225,853,661 over the last three months. Company insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CVX shares. Sanford C. Bernstein upped their price target on shares of Chevron from $204.00 to $209.00 and gave the stock a "market perform" rating in a research report on Monday, August 3rd. Dbs Bank raised shares of Chevron to a "moderate buy" rating in a research report on Thursday, August 6th. Royal Bank Of Canada restated an "outperform" rating and set a $220.00 price objective on shares of Chevron in a research note on Tuesday, May 5th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $216.00 target price on shares of Chevron in a report on Wednesday, May 6th. Finally, UBS Group reiterated a "buy" rating on shares of Chevron in a research note on Tuesday, June 23rd. Twenty 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $207.48.

Chevron Stock Up 1.1%

CVX opened at $202.04 on Friday. The stock's fifty day simple moving average is $187.44 and its 200 day simple moving average is $188.85. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The stock has a market cap of $399.18 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 0.60 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.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, beating the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to analysts' expectations of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business's revenue was up 57.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 EPS. As a group, research analysts expect that Chevron Corporation will post 16.17 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron's dividend payout ratio is 68.26%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is reportedly nearing a deal to migrate all of its Venezuelan joint ventures into a new energy framework, potentially allowing greater operational control and key oilfield expansions. The company already accounts for roughly one-quarter of Venezuela’s oil production. Reuters: Chevron to complete deal in Venezuela to migrate, expand oil projects
• Positive Sentiment: Reports indicate Chevron and oil-services company Halliburton are close to agreements to invest billions of dollars in Venezuelan fields. For Chevron, the opportunity could create a long-term production-growth platform and strengthen its position if Venezuela moves further away from OPEC restrictions. Wall Street Journal: Chevron, Other U.S. Firms Near Deal to Invest Billions in Venezuelan Oil Fields
• Neutral Sentiment: Analyst-oriented coverage is comparing Chevron’s performance with TotalEnergies, while other reports highlight Chevron’s investments in nuclear-fusion technology. Fusion could eventually diversify the company beyond hydrocarbons, but the projects remain experimental and are unlikely to materially affect near-term earnings. Yahoo Finance: What Does Chevron Want From Its Nuclear Fusion Push?
• Negative Sentiment: Venezuelan opposition groups have criticized reports that U.S. companies could receive a large stake in the country’s energy industry. Political resistance, sanctions or regulatory uncertainty could delay the agreement, raise investment costs or limit the expected benefits. The Guardian: Venezuelan opposition reacts to potential U.S. oil stake
• Negative Sentiment: Dividend-focused coverage notes that Chevron’s payout remains exposed to commodity-price cycles. Although the dividend is supported by the company’s scale and balance sheet, weaker oil prices or heavy Venezuelan investment requirements could pressure future cash-flow flexibility. 247WallSt: Chevron or PepsiCo: Whose Dividend Is Standing on Thinner Ice?

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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