18,285 Shares in Chevron Corporation $CVX Purchased by Field & Main Bank

Field & Main Bank acquired a new position in Chevron Corporation (NYSE:CVX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,285 shares of the oil and gas company’s stock, valued at approximately $3,031,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cornerstone Advisory LLC grew its position in shares of Chevron by 0.9% in the first quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock valued at $1,164,000 after purchasing an additional 52 shares in the last quarter. Compton Financial Group LLC increased its holdings in shares of Chevron by 1.9% in 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 during 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 worth $435,000 after buying an additional 56 shares in the last quarter. Wealthspire Retirement LLC boosted its stake 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 worth $1,351,000 after buying an additional 56 shares during the last quarter. Finally, D.B. Root & Company LLC boosted its stake 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 worth $846,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other news, insider R. Hewitt Pate sold 2,470 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the sale, the insider directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael K. Wirth sold 317,100 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 26,308 shares in the company, valued at approximately $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,152,582 shares of company stock valued at $225,853,661 in the last ninety days. Insiders own 0.56% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock opened at $202.04 on Friday. The firm has a market cap of $399.18 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49. 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 Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The business’s fifty day simple moving average is $187.44 and its 200-day simple moving average is $188.85.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (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 the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $1.77 EPS. Equities analysts forecast that Chevron Corporation will post 16.17 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a dividend of $1.78 per share. The ex-dividend date 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 (DPR) is currently 68.26%.

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?

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Piper Sandler started coverage on Chevron in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 target price for the company. Royal Bank Of Canada restated an “outperform” rating and set a $220.00 price objective on shares of Chevron in a research report on Tuesday, May 5th. Dbs Bank raised shares of Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Mizuho set a $224.00 target price on shares of Chevron in a report on Monday, August 3rd. Finally, Bank of America increased their price target on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Twenty analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average 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.