Rayburn West Financial Services LLC Buys New Position in Chevron Corporation $CVX

Key Points

• Rayburn West Financial Services initiated a $4.5 million Chevron position, while institutional investors collectively own 72.42% of the company’s stock.
• Chevron exceeded quarterly expectations with $6.06 in earnings per share and $67.2 billion in revenue, up 57.4% year over year. The company also declared a quarterly dividend of $1.78, yielding approximately 3.5% annually.
• Analysts maintain a “Moderate Buy” consensus with a $207.13 price target, although insider selling—including the CEO’s $63.6 million share sale—could weigh on investor sentiment.

Rayburn West Financial Services LLC bought a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 27,247 shares of the oil and gas company's stock, valued at approximately $4,516,000. Chevron comprises 2.5% of Rayburn West Financial Services LLC's investment portfolio, making the stock its 12th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Chevron during the 2nd quarter valued at $25,663,729,000. Norges Bank bought a new stake in shares of Chevron during the 4th quarter worth $3,727,586,000. Bank of New York Mellon Corp purchased a new position in Chevron in the second quarter worth $2,378,114,000. State Street Corp grew its position 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 worth $23,698,184,000 after acquiring an additional 12,789,399 shares in the last quarter. Finally, Berkshire Hathaway Inc increased its stake in Chevron by 6.6% in the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock valued at $19,837,131,000 after acquiring an additional 8,091,570 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $205.77 on Wednesday. The stock has a market cap of $406.55 billion, a PE ratio of 19.73, a PEG ratio of 0.61 and a beta of 0.49. The company's fifty day moving average is $183.95 and its 200 day moving average is $187.50. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. 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 posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. During the same period in the previous year, the firm posted $1.77 earnings per share. The firm's revenue for the quarter was up 57.4% on a year-over-year basis. Research analysts anticipate that Chevron Corporation will post 15.86 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 paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron's payout ratio is 68.26%.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction dated Friday, August 14th. The stock was 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 directly owned 26,308 shares in the company, valued at $5,273,701.68. This represents a 92.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John B. Hess sold 100,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.26, for a total value of $19,426,000.00. Following the sale, the director owned 178,045 shares of the company's stock, valued at $34,587,021.70. This represents a 35.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,133,312 shares of company stock valued at $221,969,232. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CVX shares. Weiss Ratings upgraded Chevron from a "hold (c)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Barclays cut their price objective on Chevron from $216.00 to $208.00 and set an "equal weight" rating for the company in a report on Monday. Dbs Bank upgraded Chevron to a "moderate buy" rating in a research report on Thursday, August 6th. UBS Group reissued a "buy" rating on shares of Chevron in a report on Tuesday, June 23rd. Finally, Scotiabank boosted their target price on Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Twenty investment 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $207.13.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reported an oil and gas condensate discovery at the 105-4X exploration well in offshore Angola’s Block 0. The well encountered a hydrocarbon column exceeding 600 meters, with more than 90 meters of net pay; its proximity to existing infrastructure could enable a lower-cost tie-back and support future production growth. Chevron finds oil, gas condensate offshore Angola
• Positive Sentiment: Equinor agreed to acquire a 17.4% interest in Chevron-operated petroleum exploration licence PEL 90 offshore Namibia. The deal brings a major partner into the Orange Basin, helps share exploration costs and supports plans to drill during 2026 while Chevron retains operatorship. Norway's Equinor takes stake in Chevron Namibia exploration licence
• Positive Sentiment: Unusually heavy call-option activity indicated increased bullish interest in CVX, with 62,675 calls purchased—about 45% above average daily volume.
• Neutral Sentiment: Recent investor commentary continues to highlight Chevron’s appeal as a reliable dividend stock, but energy-sector income and valuation remain sensitive to oil and natural-gas prices.
• Negative Sentiment: CEO Michael Wirth sold 317,100 shares for approximately $63.6 million, reducing his reported ownership by 92.34%. While insider sales can be scheduled or personal, the size of the transaction may weigh on sentiment. Chevron CEO Form 4 filing
• Negative Sentiment: A retreat in oil prices pressured the stock by reducing the near-term outlook for upstream revenue and cash flow, partially offsetting the benefit of Chevron’s exploration news. Chevron Corporation drops as oil price retreats

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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