Tocqueville Asset Management L.P. Purchases New Position in Chevron Corporation $CVX

Tocqueville Asset Management L.P. acquired a new position in Chevron Corporation (NYSE:CVX) during the second quarter, Holdings Channel reports. The institutional investor acquired 190,393 shares of the oil and gas company’s stock, valued at approximately $31,560,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Chevron in the second quarter worth approximately $25,663,729,000. Norges Bank acquired a new position in shares of Chevron during the 4th quarter worth $3,727,586,000. Bank of New York Mellon Corp bought a new position in shares of Chevron during the 2nd quarter valued at $2,378,114,000. State Street Corp raised its holdings in shares of Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Finally, Berkshire Hathaway Inc raised its holdings in shares of 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 purchasing an additional 8,091,570 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.0%

Shares of NYSE:CVX opened at $205.78 on Thursday. The company has a market cap of $406.57 billion, a P/E ratio of 19.73, a P/E/G ratio of 0.63 and a beta of 0.49. The stock’s 50-day moving average is $184.27 and its 200-day moving average is $187.75. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71. 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 (NYSE:CVX) last posted 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. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same period in the previous year, the company posted $1.77 earnings per share. The firm’s revenue for the quarter was up 57.4% on a year-over-year basis. Equities research analysts predict that Chevron Corporation will post 15.86 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. Shareholders of record on Wednesday, August 19th will be given 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 payout ratio is currently 68.26%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent research reports. Sanford C. Bernstein upped their price objective on shares of Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Bank of America raised their target price on Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $216.00 price target on shares of Chevron in a research report on Friday, July 10th. The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised Chevron from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Twenty analysts have rated the stock with a Buy rating, five have given 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 an average price target of $207.48.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron announced an oil and gas condensate discovery at the 105-4X well in offshore Angola’s Block 0. The well encountered a hydrocarbon column exceeding 600 meters and more than 90 meters of net pay; its proximity to existing infrastructure could allow a relatively low-cost tie-back and support future production growth. Chevron Angola discovery article
• Positive Sentiment: Equinor agreed to acquire a 17.4% interest in Chevron-operated exploration licence PEL 90 offshore Namibia. The partnership shares exploration costs while Chevron retains operatorship, reducing financial exposure ahead of a planned 2026 drilling program in the Orange Basin. Equinor Namibia stake article
• Positive Sentiment: Traders purchased 62,675 CVX call options, roughly 45% above typical volume, signaling increased near-term bullish interest.
• Positive Sentiment: Chevron’s quarterly dividend of $1.78 per share is scheduled for September 10, representing a $7.12 annualized payout and an approximately 3.5% yield. The dividend supports CVX’s appeal to income-focused investors.
• Neutral Sentiment: Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $207.13, although the target implies limited upside from recent levels.
• Negative Sentiment: CEO Michael Wirth sold 317,100 shares for approximately $63.6 million, reducing his reported ownership by 92.34%. Another insider, Andrew Benjamin Walz, sold 16,800 shares for about $3.4 million. The transactions may weigh on sentiment, although insider sales can reflect personal or scheduled financial planning. Chevron insider filing
• Negative Sentiment: Recent weakness in oil prices remains a risk because lower commodity prices can reduce Chevron’s upstream revenue, earnings and cash flow.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 317,100 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the completion of the transaction, the chief executive officer directly owned 26,308 shares in the company, valued at $5,273,701.68. The trade was a 92.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew Benjamin Walz sold 16,800 shares of the company’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 value of $3,377,808.00. Following the transaction, the insider owned 14 shares of the company’s stock, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,150,112 shares of company stock valued at $225,347,040 in the last three months. Company insiders own 0.56% of the company’s stock.

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.