Primecap Management Co. CA Makes New Investment in Chevron Corporation $CVX

Key Points

• Primecap Management bought 2.29 million Chevron shares in the second quarter, worth approximately $378.8 million and representing a 0.12% stake. Institutional investors collectively own 72.42% of Chevron.
• Analysts maintain a generally favorable view, with 20 Buy ratings, five Holds and one Sell; Chevron has a consensus “Moderate Buy” rating and an average price target of $207.48.
• Chevron reported quarterly EPS of $6.06, beating estimates, while revenue rose 57.4% year over year to $67.2 billion. The company also declared a $1.78 quarterly dividend, equal to a 3.6% annualized yield.

Primecap Management Co. CA bought a new stake in Chevron Corporation (NYSE:CVX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,285,458 shares of the oil and gas company's stock, valued at approximately $378,838,000. Primecap Management Co. CA owned 0.12% of Chevron as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. United Bank lifted its stake in shares of Chevron by 7.7% in the second quarter. United Bank now owns 11,079 shares of the oil and gas company's stock valued at $1,586,000 after purchasing an additional 796 shares during the period. Schnieders Capital Management LLC. grew its position in Chevron by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company's stock worth $7,280,000 after buying an additional 4,214 shares during the period. BNP Paribas grew its position in Chevron by 76.4% during the second quarter. BNP Paribas now owns 441 shares of the oil and gas company's stock worth $63,000 after buying an additional 191 shares during the period. Osterweis Capital Management Inc. increased its holdings in Chevron by 678.9% in the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company's stock valued at $195,000 after buying an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its holdings in Chevron by 3.6% in the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company's stock valued at $2,299,000 after buying an additional 553 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CVX shares. Weiss Ratings upgraded shares of Chevron from a "hold (c)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Wolfe Research upgraded Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price target on the stock in a report on Thursday, July 2nd. Wall Street Zen raised Chevron from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. TD Cowen lifted their price objective on Chevron from $200.00 to $205.00 and gave the stock a "hold" rating in a report on Wednesday, August 5th. Finally, Barclays decreased their target price on Chevron from $216.00 to $208.00 and set an "equal weight" rating on the stock in a research report on Monday, August 17th. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $207.48.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reportedly struck fresh oil in Angola, adding to its upstream resource base and potentially supporting future production and cash flow. Chevron stock turns heads as company strikes fresh oil
• Positive Sentiment: Brent crude has remained near $94 per barrel amid pressure on Iran, improving the economics of Chevron’s exploration and production business and supporting earnings expectations. Chevron Rises as Iran Pressure Keeps Brent Near $94
• Positive Sentiment: Analysts and financial publications continue to favor Chevron over some peers, citing stronger 2026 earnings growth, production momentum, Guyana exposure and recent price strength. Chevron was also identified as a stock to watch by Zacks. Chevron vs. Shell: Which Energy Major Offers a Better Bet? Earnings Growth and Price Strength Make Chevron a Stock to Watch
• Positive Sentiment: Chevron’s dividend remains a key attraction for long-term investors. Commentary highlights its repeated 2026 dividend increase, strong recent quarter and potential as a buy-and-hold income stock. Brokerages maintain a consensus “Moderate Buy” rating. 3 Dividend Stocks to Buy and Hold for the Next Decade Chevron Given Consensus Recommendation of Moderate Buy
• Neutral Sentiment: Discussion comparing Chevron with ExxonMobil and Shell reinforces its relative strengths, but also shows that investors are evaluating dividend durability, yield and long-term payout growth—not just quarterly earnings. ExxonMobil vs. Chevron: Dividend Growth Comparison
• Negative Sentiment: Chevron’s elevated valuation after a strong run may be encouraging profit-taking, while investors remain alert to whether its dividend strength can be sustained through changes in oil prices and industry conditions. Can This Dividend Stock Sustain Its Strength?

Chevron Price Performance

CVX opened at $199.98 on Wednesday. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71. The company has a 50 day moving average of $185.88 and a two-hundred day moving average of $188.48. The company has a market cap of $395.12 billion, a P/E ratio of 19.17, a P/E/G ratio of 0.61 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating analysts' consensus estimates of $5.55 by $0.51. The business had revenue of $67.20 billion for 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 business's revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.77 EPS. On average, analysts expect that Chevron Corporation will post 16.17 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 3.6%. Chevron's dividend payout ratio (DPR) is 68.26%.

Insider Buying and Selling

In other news, insider Andrew Benjamin Walz sold 16,800 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the sale, the insider owned 14 shares of the company's stock, valued at $2,814.84. This represents a 99.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Hess sold 710,665 shares of the stock in a transaction dated 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 completion of 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 position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,152,582 shares of company stock worth $225,853,661. Company insiders own 0.56% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source