Sanctuary Advisors LLC Makes New Investment in Chevron Corporation $CVX

Sanctuary Advisors LLC bought a new stake in Chevron Corporation (NYSE:CVX) during the 2nd quarter, Holdings Channel reports. The firm bought 457,546 shares of the oil and gas company’s stock, valued at approximately $75,843,000.

A number of other institutional investors have also modified their holdings of the stock. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron during the first quarter worth $25,000. Core Wealth Advisors LLC purchased a new position in Chevron during the 4th quarter worth $26,000. Phillip James Consulting Co. acquired a new stake in shares of Chevron in the 4th quarter worth $26,000. Basso Capital Management L.P. purchased a new stake in shares of Chevron in the fourth quarter valued at about $27,000. Finally, Karpus Management Inc. purchased a new stake in shares of Chevron in the fourth quarter valued at about $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent analyst reports. Barclays reduced their price objective on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a research report on Monday, August 17th. TD Cowen raised their price target on Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Jefferies Financial Group reaffirmed a “buy” rating and set a $216.00 price objective on shares of Chevron in a report on Friday, July 10th. Dbs Bank upgraded Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Finally, Morgan Stanley raised their target price on Chevron from $210.00 to $218.00 and gave the company an “overweight” rating in a report on Wednesday. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $207.48.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 710,665 shares of Chevron stock in a transaction 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 completion of the transaction, the director directly owned 363,711 shares of the company’s stock, valued at approximately $70,596,305.10. The trade was a 66.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider R. Hewitt Pate sold 2,470 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total value of $506,621.70. Following the sale, the insider owned 10,794 shares in the company, valued at approximately $2,213,957.34. The trade was a 18.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,152,582 shares of company stock valued at $225,853,661. Company insiders own 0.56% of the company’s stock.

Key Headlines Impacting Chevron

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

Chevron Trading Down 0.0%

Shares of CVX opened at $205.25 on Monday. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $405.53 billion, a P/E ratio of 19.68, a PEG ratio of 0.61 and a beta of 0.49. The firm’s 50-day moving average is $185.03 and its two-hundred day moving average is $188.17.

Chevron (NYSE:CVX) last posted 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 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 company’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same period last year, the firm earned $1.77 EPS. On average, research analysts predict that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

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.