Pin Oak Investment Advisors Inc. Invests $2.54 Million in Chevron Corporation $CVX

Pin Oak Investment Advisors Inc. purchased a new stake in Chevron Corporation (NYSE:CVX) in the second quarter, Holdings Channel reports. The firm purchased 12,295 shares of the oil and gas company’s stock, valued at approximately $2,544,000. Chevron accounts for approximately 1.3% of Pin Oak Investment Advisors Inc.’s portfolio, making the stock its 16th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 49 Wealth Management LLC purchased a new stake in Chevron in the 2nd quarter valued at $928,000. Unconventional Investor LLC acquired a new position in shares of Chevron during the 2nd quarter valued at about $268,000. Strait & Sound Wealth Management LLC grew its holdings in shares of Chevron by 3.2% in the second quarter. Strait & Sound Wealth Management LLC now owns 6,275 shares of the oil and gas company’s stock valued at $1,040,000 after purchasing an additional 193 shares during the period. Rakuten Investment Management Inc. increased its position in Chevron by 8.8% during the second quarter. Rakuten Investment Management Inc. now owns 304,685 shares of the oil and gas company’s stock worth $51,330,000 after purchasing an additional 24,574 shares during the last quarter. Finally, RB Capital Management LLC raised its stake in Chevron by 1.0% during the second quarter. RB Capital Management LLC now owns 32,274 shares of the oil and gas company’s stock worth $5,350,000 after purchasing an additional 326 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 317,100 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the sale, the chief executive officer owned 26,308 shares of the company’s stock, valued at $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew Benjamin Walz sold 16,800 shares of the business’s stock in a transaction that occurred 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,152,582 shares of company stock worth $225,853,661 over the last 90 days. 0.56% of the stock is currently owned by company insiders.

Chevron Price Performance

Shares of CVX opened at $202.04 on Friday. The company has a market cap of $399.18 billion, a P/E ratio of 19.37, a PEG ratio of 0.60 and a beta of 0.49. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two 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 firm’s 50 day moving average price is $187.44 and its 200 day moving average price is $188.85.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. During the same quarter in the previous year, the firm posted $1.77 earnings per share. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. On average, research analysts forecast that Chevron Corporation will post 16.17 earnings per share for the current fiscal 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 issued a dividend of $1.78 per share. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.5%. Chevron’s dividend payout ratio is 68.26%.

Wall Street Analyst Weigh In

CVX has been the subject of several analyst reports. UBS Group reissued a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a research report on Tuesday, May 5th. Morgan Stanley lifted their target price on Chevron from $210.00 to $218.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Jefferies Financial Group reiterated a “buy” rating and set a $216.00 price target on shares of Chevron in a report on Friday, July 10th. Finally, Bank of America boosted their price objective on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Twenty analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $207.48.

Chevron News Summary

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?

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.