Sigma Planning Corp Acquires 6,998 Shares of Chevron Corporation $CVX

Key Points

• Sigma Planning Corp increased its Chevron stake by 9.2% in the second quarter, purchasing 6,998 additional shares and bringing its total holdings to 82,993 shares worth approximately $13.76 million. Institutional investors collectively own 72.42% of Chevron.
• Chevron reported stronger-than-expected quarterly results, with earnings of $6.06 per share and revenue of $67.20 billion, up 57.4% year over year. The company also declared a quarterly dividend of $1.78 per share, equivalent to a 3.5% annual yield.
• Analysts maintain a generally positive outlook, with Chevron carrying a consensus “Moderate Buy” rating and an average price target of $207.48. However, insiders sold more than 1.15 million shares worth approximately $225.9 million over the past 90 days.

Sigma Planning Corp raised its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 9.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,993 shares of the oil and gas company's stock after buying an additional 6,998 shares during the period. Sigma Planning Corp's holdings in Chevron were worth $13,757,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cornerstone Advisory LLC grew its position in shares of Chevron by 0.9% during the 1st quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company's stock valued at $1,164,000 after acquiring an additional 52 shares during the period. Compton Financial Group LLC lifted its position in Chevron by 1.9% during the first quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company's stock valued at $609,000 after purchasing an additional 56 shares in the last quarter. Quantum Portfolio Management LLC lifted its position in Chevron by 2.7% during the first quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company's stock valued at $435,000 after purchasing an additional 56 shares in the last quarter. Wealthspire Retirement LLC grew its holdings in Chevron by 0.9% during the first quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company's stock valued at $1,351,000 after purchasing an additional 56 shares during the period. Finally, D.B. Root & Company LLC grew its holdings in Chevron by 1.0% during the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company's stock valued at $846,000 after purchasing an additional 57 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 0.1%

Shares of Chevron stock opened at $202.04 on Monday. Chevron Corporation has a twelve month low of $146.49 and a twelve month 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. The business has a 50-day moving average price of $187.44 and a 200-day moving average price of $188.90. The firm has a market cap of $399.18 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 0.60 and a beta of 0.49.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping analysts' consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. During the same period in the previous year, the business earned $1.77 earnings per share. The firm's revenue for the quarter was up 57.4% on a year-over-year basis. Equities research analysts anticipate that Chevron Corporation will post 16.24 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed 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%.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 100,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the completion of the transaction, the director directly owned 178,045 shares in the company, valued at approximately $34,587,021.70. This represents a 35.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R. Hewitt Pate sold 2,470 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $2,213,957.34. This trade represents a 18.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,152,582 shares of company stock valued at $225,853,661 over the last 90 days. Insiders own 0.56% of the company's stock.

Chevron News Summary

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?

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a $216.00 price objective on shares of Chevron in a research note on Friday, July 10th. TD Cowen raised their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a "hold" rating in a research note on Wednesday, August 5th. Sanford C. Bernstein lifted their price target on shares of Chevron from $204.00 to $209.00 and gave the company a "market perform" rating in a report on Monday, August 3rd. Zacks Research cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. Finally, Wolfe Research upgraded shares of Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price objective on the stock in a research report on Thursday, July 2nd. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of "Moderate Buy" and a consensus price target of $207.48.

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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