49,303 Shares in Chevron Corporation $CVX Purchased by Quantitative Investment Management LLC

Quantitative Investment Management LLC bought a new position in shares of Chevron Corporation (NYSE:CVX) in the 2nd quarter, Holdings Channel.com reports. The firm bought 49,303 shares of the oil and gas company’s stock, valued at approximately $8,172,000. Chevron accounts for approximately 0.9% of Quantitative Investment Management LLC’s portfolio, making the stock its 23rd largest holding.

A number of other large investors also recently added to or reduced their stakes in CVX. Midwest Capital Advisors LLC purchased a new stake in Chevron during the 1st quarter valued at approximately $25,000. Core Wealth Advisors LLC bought a new position in shares of Chevron during the fourth quarter worth $26,000. Phillip James Consulting Co. bought a new position in shares of Chevron during the fourth quarter worth $26,000. Basso Capital Management L.P. purchased a new position in Chevron during the fourth quarter valued at $27,000. Finally, Karpus Management Inc. purchased a new position in Chevron during the fourth quarter valued at $27,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on CVX. Sanford C. Bernstein boosted their price target on shares of Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. UBS Group restated a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Mizuho set a $224.00 price target on Chevron in a research note on Monday, August 3rd. Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a research note on Thursday, July 2nd. Finally, Zacks Research cut Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Twenty research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $207.48.

Chevron Stock Performance

Shares of NYSE:CVX opened at $202.04 on Monday. The firm has a fifty day simple moving average of $187.44 and a two-hundred day simple moving average of $188.90. Chevron Corporation has a 52 week low of $146.49 and a 52 week 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 stock has a market capitalization of $399.18 billion, a P/E ratio of 19.37, a PEG ratio of 0.60 and a beta of 0.49.

Chevron (NYSE:CVX) last announced its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion for 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 was up 57.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.77 EPS. On average, analysts expect that Chevron Corporation will post 16.24 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is 68.26%.

Insiders Place Their Bets

In other 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 value of $3,377,808.00. Following the transaction, the insider directly owned 14 shares in the company, valued at approximately $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 accessible through the SEC website. Also, Director John B. Hess sold 710,665 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the transaction, the director directly owned 363,711 shares in the company, valued at approximately $70,596,305.10. This trade represents a 66.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,152,582 shares of company stock worth $225,853,661 over the last three months. 0.56% of the stock is currently owned by corporate insiders.

Key Stories Impacting 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 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.