Van ECK Associates Corp Has $17.30 Million Holdings in Chevron Corporation $CVX

Van ECK Associates Corp decreased its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 69.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,396 shares of the oil and gas company's stock after selling 232,401 shares during the period. Van ECK Associates Corp's holdings in Chevron were worth $17,305,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Capital Inc. bought a new stake in shares of Chevron in the second quarter valued at approximately $786,000. OneAscent Wealth Management LLC bought a new position in Chevron during the 2nd quarter worth $973,000. Global Retirement Partners LLC acquired a new position in Chevron in the 2nd quarter valued at $14,276,000. Indivisible Partners acquired a new position in Chevron in the 4th quarter valued at $1,923,000. Finally, Janney Montgomery Scott LLC lifted its position in shares of Chevron by 6.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company's stock valued at $258,853,000 after acquiring an additional 79,439 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Trending Headlines about Chevron

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?

Chevron Stock Performance

Chevron stock opened at $202.04 on Monday. 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 stock has a market cap of $399.18 billion, a PE ratio of 19.37, a P/E/G ratio of 0.60 and a beta of 0.49. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The business's 50-day moving average price is $187.44 and its two-hundred day moving average price is $188.90.

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. The firm had revenue of $67.20 billion during the quarter, compared to analysts' expectations 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 in the prior year, the business earned $1.77 earnings per share. As a group, analysts expect that Chevron Corporation will post 16.24 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced 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 is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.5%. Chevron's dividend payout ratio (DPR) is currently 68.26%.

Insider Activity at Chevron

In other Chevron news, insider R. Hewitt Pate sold 2,470 shares of the business'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 sale, the insider owned 10,794 shares of the company's stock, valued at approximately $2,213,957.34. The trade was a 18.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew Benjamin Walz sold 16,800 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the transaction, the insider owned 14 shares of the company's stock, valued at $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,152,582 shares of company stock worth $225,853,661. Corporate insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CVX. UBS Group reissued a "buy" rating on shares of Chevron in a report on Tuesday, June 23rd. Jefferies Financial Group reaffirmed a "buy" rating and set a $216.00 price objective on shares of Chevron in a research report on Friday, July 10th. Royal Bank Of Canada reiterated an "outperform" rating and set a $220.00 price objective on shares of Chevron in a research note on Tuesday, May 5th. Wolfe Research raised shares of Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 target price on the stock in a report on Thursday, July 2nd. Finally, Bank of America boosted their target price on shares of Chevron from $210.00 to $227.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Chevron presently has an average rating of "Moderate Buy" and an average price target of $207.48.

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.

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