Robinhood Asset Management LLC Invests $13.70 Million in Chevron Corporation $CVX

Robinhood Asset Management LLC purchased a new position in Chevron Corporation (NYSE:CVX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 82,674 shares of the oil and gas company’s stock, valued at approximately $13,704,000. Chevron makes up 0.7% of Robinhood Asset Management LLC’s portfolio, making the stock its 25th biggest holding.

A number of other large investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Chevron in the second quarter worth about $25,663,729,000. Norges Bank bought a new stake in shares of Chevron in the 4th quarter worth approximately $3,727,586,000. Bank of New York Mellon Corp purchased a new stake in shares of Chevron in the 2nd quarter worth approximately $2,378,114,000. State Street Corp grew its stake in shares of Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after buying an additional 12,789,399 shares during the last quarter. Finally, Berkshire Hathaway Inc increased its position 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 buying an additional 8,091,570 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 317,100 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R. Hewitt Pate sold 2,470 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $2,213,957.34. The trade was a 18.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,152,582 shares of company stock valued at $225,853,661 over the last quarter. Corporate insiders own 0.56% of the company’s stock.

Chevron Stock Performance

CVX stock opened at $205.25 on Friday. The stock’s 50 day simple moving average is $185.03 and its 200 day simple moving average is $188.07. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The stock has a market capitalization of $405.53 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 0.62 and a beta of 0.49.

Chevron (NYSE:CVX) 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. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same quarter last year, the company earned $1.77 EPS. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. As a group, research analysts forecast that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Brent crude recently approached $94–$95 per barrel amid renewed Middle East tensions and concerns about Strait of Hormuz disruptions. Sustained higher oil prices typically benefit Chevron’s upstream revenue, margins and cash flow. Chevron jumps as Brent crude approaches $94
• Positive Sentiment: Chevron confirmed an oil and gas condensate discovery at the 105-4X well in offshore Angola. Its proximity to existing facilities could allow a lower-cost tie-back, creating a potential source of future production. Chevron Angola discovery analysis
• Positive Sentiment: Chevron’s $1.78 quarterly dividend, equal to $7.12 annually and an approximately 3.5% yield, reinforces its appeal to income investors. The company also recently exceeded quarterly earnings and revenue expectations. Chevron raises dividend
• Neutral Sentiment: Analysis comparing Chevron with Exxon Mobil highlights differing long-term strategies, including Chevron’s continued emphasis on oil and gas. The approach could benefit from strong commodity prices but leaves CVX more exposed to future oil-demand and price cycles. Chevron versus Exxon Mobil analysis
• Negative Sentiment: Iraq plans to more than double its oil output over the next six years. If achieved, the added supply could pressure global crude prices and reduce the earnings benefit Chevron receives from today’s elevated prices. Iraq oil output and Chevron
• Negative Sentiment: Two Chevron insiders sold shares recently: Andrew Benjamin Walz sold 16,800 shares, while R. Hewitt Pate sold 2,470 shares. Although such transactions may reflect personal financial planning, they can create a modest sentiment overhang. Chevron insider sale report
• Negative Sentiment: A separate analysis says concerns remain centered on Chevron, including issues surrounding its Hess Midstream exposure and broader execution risks. The report may temper enthusiasm after CVX’s recent advance. Hess Midstream: The Issue Remains With Chevron

Analysts Set New Price Targets

A number of brokerages have issued reports on CVX. Dbs Bank upgraded Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Weiss Ratings raised Chevron from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Morgan Stanley raised their price target on Chevron from $210.00 to $218.00 and gave the company an “overweight” rating in a report on Wednesday. Bank of America lifted their price target on Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Finally, UBS Group reissued a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.