Chevron Corporation $CVX Holdings Cut by Sterling Investment Advisors Ltd.

Sterling Investment Advisors Ltd. decreased its position in shares of Chevron Corporation (NYSE:CVX) by 9.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,922 shares of the oil and gas company’s stock after selling 2,953 shares during the quarter. Sterling Investment Advisors Ltd.’s holdings in Chevron were worth $4,628,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Midwest Capital Advisors LLC bought a new stake in shares of Chevron during the 1st quarter worth about $25,000. Core Wealth Advisors LLC acquired a new position in Chevron during the fourth quarter worth about $26,000. Phillip James Consulting Co. bought a new stake in Chevron in the fourth quarter worth about $26,000. Basso Capital Management L.P. acquired a new stake in Chevron in the 4th quarter valued at about $27,000. Finally, Karpus Management Inc. bought a new position in shares of Chevron during the 4th quarter valued at about $27,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 0.7%

Shares of CVX opened at $210.09 on Wednesday. The company has a 50-day simple moving average of $192.79 and a 200-day simple moving average of $190.20. 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 firm has a market capitalization of $415.08 billion, a P/E ratio of 20.14, a P/E/G ratio of 0.61 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 data 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. The company had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period last year, the firm earned $1.77 EPS. On average, equities research analysts expect that Chevron Corporation will post 16.51 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s payout ratio is currently 68.26%.

Analysts Set New Price Targets

CVX has been the subject of several recent research reports. Sanford C. Bernstein increased their target price on shares of Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research note on Thursday, July 2nd. Zacks Research downgraded Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. TD Cowen raised their price target on shares of Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Finally, BMO Capital Markets raised their price objective on Chevron from $210.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.35.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Venezuela expansion adds production potential: Chevron plans to more than double the number of oil rigs it operates in Venezuela as part of a five-year growth plan. The company’s expanded joint ventures target production of approximately 600,000 barrels per day and include additional acreage in the Carabobo region. The initiative could provide meaningful production growth and leverage Venezuela’s large reserves. Chevron to double oil rigs in Venezuela as part of growth plan
• Positive Sentiment: Large investment signals confidence in long-term growth: Chevron is expected to invest more than $7 billion over five years to expand its Venezuelan operations. Management says strong cash flow and synergies from the Hess transaction give the company financial flexibility to pursue the expansion while continuing to support shareholders. Chevron doubles down on Venezuela with a $7 billion oil bet
• Positive Sentiment: Oil-market backdrop remains supportive: Reports of higher oil prices amid escalating Middle East tensions are supporting energy-sector sentiment and Chevron’s earnings outlook. Analysts have also argued that the company’s rally could continue, citing strong energy prices, earnings and operating fundamentals. Stock Market Today: Dow dives, oil pops
• Neutral Sentiment: Management commentary reinforces the strategy: At Barclays’ energy conference, Chevron executives discussed the Venezuela growth plan and broader operating priorities. Investors will look for additional detail on capital spending, production timing and returns. Chevron presents at Barclays energy conference
• Negative Sentiment: Valuation and geopolitical risks are rising: Chevron has surged more than 40% this year and is close to its 52-week high, leaving less room for disappointment. Venezuela’s political, sanctions and operational risks could delay or reduce the expected benefits of the expansion. Chevron stock is near a record high
• Neutral Sentiment: Dividend appeal remains intact but requires substantial capital: An investor starting from scratch would need more than $146,000 in Chevron shares to generate $5,000 in annual passive income at current dividend levels. This highlights the income potential but is unlikely to be a major near-term trading catalyst. How many shares of Chevron are needed for annual passive income

Insider Activity at Chevron

In related news, insider Andrew 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 transaction of $3,377,808.00. Following the transaction, the insider owned 14 shares in the company, valued at $2,814.84. This represents a 99.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Pate sold 2,470 shares of the stock in a transaction dated Tuesday, August 18th. The stock was 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. This represents a 18.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,152,582 shares of company stock worth $225,853,661 in the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Chevron Company Profile

Chevron Corporation is an integrated energy company engaged in the exploration, production, transportation and sale of crude oil and natural gas. The company also manufactures and markets transportation fuels, lubricants, petrochemicals and additives through operations and brands that include Chevron, Texaco and Caltex.

Chevron’s upstream activities include oil and natural gas exploration and production, while its downstream business includes refining, fuel marketing, transportation and related energy services.