Operose Advisors LLC Buys New Holdings in Chevron Corporation $CVX

Operose Advisors LLC bought a new position in Chevron Corporation (NYSE:CVX) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 6,720 shares of the oil and gas company’s stock, valued at approximately $1,114,000.

Other institutional investors have also recently bought and sold shares of the company. Midwest Capital Advisors LLC acquired a new position in shares of Chevron in the 1st quarter valued at $25,000. Core Wealth Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter valued at about $26,000. Phillip James Consulting Co. acquired a new stake in shares of Chevron during the 4th quarter valued at about $26,000. Basso Capital Management L.P. bought a new stake in Chevron in the fourth quarter valued at about $27,000. Finally, Karpus Management Inc. bought a new stake in Chevron in the fourth quarter valued at about $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s planned investment of more than $7 billion in Venezuela is expected to expand production to approximately 600,000 barrels per day over five years. Investors view the Orinoco Belt opportunity as a potential source of significant production growth and attractive economics. Chevron Commits $7 Billion to Venezuela to Double Production
• Positive Sentiment: Analysts and fund managers remain constructive on Chevron, citing its scale, strong fundamentals, production growth following the Hess acquisition, dividend record and long-term exposure to energy demand. Rising crude prices above $90 per barrel have also supported sentiment toward major oil companies. Why Gabelli Remains Bullish on Chevron
• Positive Sentiment: A preliminary agreement covering Ghana’s South Deepwater Tano Cape Three Points block could provide Chevron with another international growth option, although commercial terms and ownership details have not been finalized. Chevron and Shell Sign Preliminary Ghana Agreement
• Neutral Sentiment: Chevron’s dividend remains a key attraction, with 39 consecutive years of increases. However, its sustainability would be tested if oil prices fall materially from current elevated levels. Chevron’s Dividend and Oil Price Risk
• Negative Sentiment: Investors remain concerned that the Venezuela strategy will require substantial capital, face operational challenges and carry elevated political and execution risk. Critics also question whether the expansion can deliver its projected returns. Capital Requirements and Operational Challenges
• Negative Sentiment: Valuation concerns have become more important after the rally: Chevron is trading near the upper end of its recent range, while reported insider activity has consisted of sales rather than purchases. A decline in oil prices could further pressure earnings and the stock.

Analyst Ratings Changes

A number of brokerages have commented on CVX. Mizuho set a $224.00 price target on shares of Chevron in a research note on Monday, August 3rd. Wall Street Zen upgraded Chevron from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. TD Cowen increased their target price on Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. UBS Group restated a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Finally, Sanford C. Bernstein boosted their price target on Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Twenty analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $211.35.

Insider Activity at Chevron

In other news, insider R. Pate sold 2,470 shares of the stock in a transaction that occurred 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 directly owned 10,794 shares of the company’s stock, valued at $2,213,957.34. This represents a 18.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hess sold 710,665 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the sale, the director directly owned 363,711 shares of the company’s stock, valued at approximately $70,596,305.10. This represents a 66.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,152,582 shares of company stock valued at $225,853,661. Insiders own 0.56% of the company’s stock.

Chevron Price Performance

Shares of CVX stock opened at $208.48 on Friday. The stock’s fifty day moving average is $191.10 and its 200-day moving average is $189.77. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The stock has a market capitalization of $411.91 billion, a PE ratio of 19.99, a PEG ratio of 0.62 and a beta of 0.50. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. The business 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 firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.77 earnings per share. Equities research analysts expect that Chevron Corporation will post 16.51 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed 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. This represents a $7.12 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 68.26%.

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.