Pin Oak Investment Advisors Inc. Purchases Shares of 12,295 Chevron Corporation $CVX

Key Points

• Pin Oak Investment Advisors purchased 12,295 Chevron shares worth approximately $2.54 million, making Chevron 1.3% of its portfolio. Institutional investors collectively own 72.42% of the stock.
• Chevron reported quarterly EPS of $6.06, exceeding estimates by $0.51, while revenue rose 57.4% year over year to $67.2 billion. The company also announced a quarterly dividend of $1.78 per share, representing a 3.5% annualized yield.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $207.48. Potential Venezuelan oil investments could support future growth, although political uncertainty, commodity-price volatility and recent insider selling remain risks.

Pin Oak Investment Advisors Inc. purchased a new position in Chevron Corporation (NYSE:CVX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,295 shares of the oil and gas company's stock, valued at approximately $2,544,000. Chevron comprises approximately 1.3% of Pin Oak Investment Advisors Inc.'s holdings, making the stock its 16th largest position.

Other large investors have also recently made changes to their positions in the company. Midwest Capital Advisors LLC purchased a new position in shares of Chevron in the first quarter worth about $25,000. Main Street Group LTD purchased a new position in Chevron during the 1st quarter worth approximately $28,000. Phillip James Consulting Co. purchased a new position in Chevron during the 4th quarter worth approximately $26,000. Kilter Group LLC acquired a new stake in Chevron during the 2nd quarter valued at approximately $28,000. Finally, Core Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter worth $26,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Chevron

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 Stock Up 1.1%

Shares of CVX opened at $202.04 on Friday. The firm has a market cap of $399.18 billion, a P/E ratio of 19.37, a PEG ratio of 0.60 and a beta of 0.49. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The stock's 50 day moving average is $187.44 and its two-hundred day moving average is $188.85. 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 announced its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business's revenue was up 57.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 EPS. Analysts predict that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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 paid a dividend of $1.78 per share. 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%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Morgan Stanley upped their price target on shares of Chevron from $210.00 to $218.00 and gave the company an "overweight" rating in a report on Wednesday, August 19th. Bank of America raised their target price on Chevron from $210.00 to $227.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Wolfe Research raised Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price target for the company in a report on Thursday, July 2nd. Jefferies Financial Group reaffirmed a "buy" rating and set a $216.00 price objective on shares of Chevron in a research note on Friday, July 10th. Finally, Weiss Ratings upgraded shares of Chevron from a "hold (c)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Twenty equities research 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $207.48.

Insider Activity at Chevron

In related news, 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 value of $506,621.70. Following the transaction, the insider directly owned 10,794 shares of the company's stock, valued at approximately $2,213,957.34. This trade represents a 18.62% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Hess sold 710,665 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total value of $137,940,076.50. Following the sale, the director owned 363,711 shares of the company's stock, valued at approximately $70,596,305.10. This trade represents a 66.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,152,582 shares of company stock worth $225,853,661 in the last quarter. Company insiders own 0.56% of the company's stock.

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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