Nissay Asset Management Corp Japan Acquires 36,739 Shares of Chevron Corporation $CVX

Nissay Asset Management Corp Japan lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 14.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 285,903 shares of the oil and gas company’s stock after acquiring an additional 36,739 shares during the period. Nissay Asset Management Corp Japan’s holdings in Chevron were worth $47,391,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CVX. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron in the 1st quarter valued at approximately $25,000. Core Wealth Advisors LLC acquired a new position in Chevron during the 4th quarter worth approximately $26,000. Phillip James Consulting Co. bought a new position in Chevron in the 4th quarter valued at approximately $26,000. Quattro Advisors LLC bought a new position in Chevron in the 4th quarter valued at approximately $27,000. Finally, Karpus Management Inc. acquired a new stake in Chevron in the fourth quarter valued at approximately $27,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVX. Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. Wall Street Zen raised Chevron from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Piper Sandler assumed coverage on Chevron in a research report on Thursday, July 23rd. They set an “overweight” rating and a $207.00 price objective on the stock. Bank of America upped their target price on Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Finally, TD Cowen increased their target price on Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $207.48.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 710,665 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.10, for a total value of $137,940,076.50. Following the sale, the director owned 363,711 shares in the company, valued at approximately $70,596,305.10. The trade was a 66.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrew Benjamin Walz sold 16,800 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the sale, the insider directly owned 14 shares of the company’s stock, valued at approximately $2,814.84. The trade was a 99.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,152,582 shares of company stock valued at $225,853,661 over the last 90 days. 0.56% of the stock is owned by corporate insiders.

Chevron Trading Up 1.1%

Shares of NYSE CVX opened at $202.04 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71. The firm has a 50 day moving average price of $187.44 and a two-hundred day moving average price of $188.85. The stock has a market cap of $399.18 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49.

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

Chevron Announces Dividend

The business also recently announced 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 of this dividend is Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.5%. Chevron’s payout ratio is presently 68.26%.

Chevron News Roundup

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?

Chevron 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.