Uptick Partners LLC Purchases Shares of 10,439 Chevron Corporation $CVX

Key Points

• Uptick Partners LLC acquired 10,439 Chevron shares during the second quarter, valued at approximately $1.73 million. Institutional investors and hedge funds collectively own 72.42% of Chevron.
• Chevron reported quarterly EPS of $6.06 and revenue of $67.20 billion, beating analyst expectations, while announcing a $1.78 quarterly dividend, equivalent to a 3.5% yield.
• Recent developments include a major offshore Angola discovery and Equinor’s purchase of a 17.4% stake in Chevron’s Namibia exploration license, though insider stock sales and weaker oil prices remain potential risks.

Uptick Partners LLC acquired a new position in Chevron Corporation (NYSE:CVX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,439 shares of the oil and gas company's stock, valued at approximately $1,730,000.

Several other large investors have also made changes to their positions in CVX. BlackRock Inc. bought a new stake in shares of Chevron in the second quarter valued at approximately $25,663,729,000. Norges Bank bought a new position in Chevron during the fourth quarter worth $3,727,586,000. Bank of New York Mellon Corp bought a new position in Chevron during the second quarter worth $2,378,114,000. State Street Corp raised its stake in Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares during the last quarter. Finally, Berkshire Hathaway Inc raised its stake in Chevron by 6.6% during the 4th 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 purchasing an additional 8,091,570 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron announced an oil and gas condensate discovery at the 105-4X well in offshore Angola’s Block 0. The well encountered a hydrocarbon column exceeding 600 meters and more than 90 meters of net pay; its proximity to existing infrastructure could allow a relatively low-cost tie-back and support future production growth. Chevron Angola discovery article
• Positive Sentiment: Equinor agreed to acquire a 17.4% interest in Chevron-operated exploration licence PEL 90 offshore Namibia. The partnership shares exploration costs while Chevron retains operatorship, reducing financial exposure ahead of a planned 2026 drilling program in the Orange Basin. Equinor Namibia stake article
• Positive Sentiment: Traders purchased 62,675 CVX call options, roughly 45% above typical volume, signaling increased near-term bullish interest.
• Positive Sentiment: Chevron’s quarterly dividend of $1.78 per share is scheduled for September 10, representing a $7.12 annualized payout and an approximately 3.5% yield. The dividend supports CVX’s appeal to income-focused investors.
• Neutral Sentiment: Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $207.13, although the target implies limited upside from recent levels.
• Negative Sentiment: CEO Michael Wirth sold 317,100 shares for approximately $63.6 million, reducing his reported ownership by 92.34%. Another insider, Andrew Benjamin Walz, sold 16,800 shares for about $3.4 million. The transactions may weigh on sentiment, although insider sales can reflect personal or scheduled financial planning. Chevron insider filing
• Negative Sentiment: Recent weakness in oil prices remains a risk because lower commodity prices can reduce Chevron’s upstream revenue, earnings and cash flow.

Chevron Stock Up 0.0%

Shares of NYSE:CVX opened at $205.78 on Thursday. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The company's 50-day moving average price is $184.27 and its two-hundred day moving average price is $187.75. 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 firm has a market cap of $406.57 billion, a P/E ratio of 19.73, a P/E/G ratio of 0.63 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 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 quarterly revenue was up 57.4% compared to the same quarter last year. During the same period last year, the company earned $1.77 EPS. As a group, research analysts forecast that Chevron Corporation will post 15.86 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. Stockholders of record on Wednesday, August 19th will be paid a $1.78 dividend. 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 dividend payout ratio is 68.26%.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 317,100 shares of the company's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the sale, the chief executive officer owned 26,308 shares of the company's stock, valued at approximately $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hess sold 100,000 shares of the company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the completion of the sale, the director owned 178,045 shares of the company's stock, valued at approximately $34,587,021.70. This represents a 35.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,150,112 shares of company stock valued at $225,347,040 in the last ninety days. 0.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CVX has been the subject of several research reports. Wall Street Zen upgraded shares of Chevron from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. 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 research note on Thursday, July 2nd. UBS Group reaffirmed a "buy" rating on shares of Chevron in a report on Tuesday, June 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $220.00 price objective on shares of Chevron in a research report on Tuesday, May 5th. Finally, Dbs Bank raised Chevron to a "moderate buy" rating in a research report on Thursday, August 6th. 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $207.48.

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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