TCM Advisors LLC Purchases Shares of 6,318 Chevron Corporation $CVX

Key Points

• TCM Advisors acquired 6,318 Chevron shares worth approximately $1.05 million in the second quarter, while institutional investors collectively own 72.42% of CVX.
• Analysts remain broadly positive, with 20 Buy, five Hold and one Sell rating; Chevron has a “Moderate Buy” consensus and an average price target of $207.48.
• Chevron exceeded quarterly earnings and revenue expectations and declared a $1.78 quarterly dividend, equal to a 3.5% annualized yield, though insiders have sold substantial shares recently.

TCM Advisors LLC acquired a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,318 shares of the oil and gas company's stock, valued at approximately $1,047,000. Chevron accounts for approximately 0.1% of TCM Advisors LLC's portfolio, making the stock its 19th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tairen Capital Ltd bought a new position in shares of Chevron during the second quarter worth approximately $52,612,000. Infrastructure Capital Advisors LLC bought a new stake in Chevron in the 2nd quarter valued at $2,229,000. Cibc World Market Inc. bought a new stake in Chevron in the 2nd quarter valued at $145,818,000. OMERS ADMINISTRATION Corp acquired a new position in Chevron in the 2nd quarter valued at $57,809,000. Finally, Leigh Baldwin & CO. LLC acquired a new position in Chevron in the 2nd quarter valued at $531,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Buying and Selling

In related news, insider Andrew Benjamin Walz sold 16,800 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider R. Hewitt Pate sold 2,470 shares of the company's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total transaction of $506,621.70. Following the sale, the insider directly owned 10,794 shares of the company's stock, valued at $2,213,957.34. This represents a 18.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,152,582 shares of company stock worth $225,853,661 in the last ninety days. 0.56% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research reports. Weiss Ratings raised Chevron from a "hold (c)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Mizuho set a $224.00 price target on shares of Chevron in a research note on Monday, August 3rd. Morgan Stanley raised their price target on shares of Chevron from $210.00 to $218.00 and gave the stock an "overweight" rating in a research report on Wednesday. The Goldman Sachs Group reaffirmed a "buy" rating and set a $216.00 price target on shares of Chevron in a research report on Wednesday, May 6th. Finally, Dbs Bank upgraded shares of Chevron to a "moderate buy" rating in a research note on Thursday, August 6th. Twenty analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $207.48.

Chevron Price Performance

Chevron stock opened at $205.25 on Monday. The stock's fifty day moving average price is $185.03 and its two-hundred day moving average price is $188.17. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The firm has a market cap of $405.53 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 0.61 and a beta of 0.49.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company's quarterly revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.77 EPS. As a group, research analysts expect that Chevron Corporation will post 16.17 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors 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 yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron's payout ratio is 68.26%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Brent crude recently approached $94–$95 per barrel amid renewed Middle East tensions and concerns about Strait of Hormuz disruptions. Sustained higher oil prices typically benefit Chevron’s upstream revenue, margins and cash flow. Chevron jumps as Brent crude approaches $94
• Positive Sentiment: Chevron confirmed an oil and gas condensate discovery at the 105-4X well in offshore Angola. Its proximity to existing facilities could allow a lower-cost tie-back, creating a potential source of future production. Chevron Angola discovery analysis
• Positive Sentiment: Chevron’s $1.78 quarterly dividend, equal to $7.12 annually and an approximately 3.5% yield, reinforces its appeal to income investors. The company also recently exceeded quarterly earnings and revenue expectations. Chevron raises dividend
• Neutral Sentiment: Analysis comparing Chevron with Exxon Mobil highlights differing long-term strategies, including Chevron’s continued emphasis on oil and gas. The approach could benefit from strong commodity prices but leaves CVX more exposed to future oil-demand and price cycles. Chevron versus Exxon Mobil analysis
• Negative Sentiment: Iraq plans to more than double its oil output over the next six years. If achieved, the added supply could pressure global crude prices and reduce the earnings benefit Chevron receives from today’s elevated prices. Iraq oil output and Chevron
• Negative Sentiment: Two Chevron insiders sold shares recently: Andrew Benjamin Walz sold 16,800 shares, while R. Hewitt Pate sold 2,470 shares. Although such transactions may reflect personal financial planning, they can create a modest sentiment overhang. Chevron insider sale report
• Negative Sentiment: A separate analysis says concerns remain centered on Chevron, including issues surrounding its Hess Midstream exposure and broader execution risks. The report may temper enthusiasm after CVX’s recent advance. Hess Midstream: The Issue Remains With Chevron

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.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX - Free Report).

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