2,798 Shares in Chevron Corporation $CVX Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP purchased a new position in Chevron Corporation (NYSE:CVX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,798 shares of the oil and gas company’s stock, valued at approximately $464,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Indivisible Partners bought a new stake in shares of Chevron during the fourth quarter worth $1,923,000. Janney Montgomery Scott LLC grew its holdings in Chevron by 6.8% during the first quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock worth $258,853,000 after purchasing an additional 79,439 shares during the period. Galaxy Digital Inc. acquired a new position in shares of Chevron in the first quarter valued at $2,028,000. Osprey Private Wealth LLC grew its position in shares of Chevron by 556.4% during the 4th quarter. Osprey Private Wealth LLC now owns 9,190 shares of the oil and gas company’s stock worth $1,401,000 after purchasing an additional 7,790 shares in the last quarter. Finally, Summit Global Investments bought a new position in Chevron in the second quarter valued at approximately $3,117,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVX. The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Piper Sandler initiated coverage on shares of Chevron in a report on Thursday, July 23rd. They set an “overweight” rating and a $207.00 price objective for the company. Dbs Bank raised Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Sanford C. Bernstein lifted their price objective 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. Finally, Wall Street Zen upgraded Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Twenty analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $207.48.

Key Chevron News

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

Insider Activity

In other Chevron news, insider R. Hewitt Pate sold 2,470 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total transaction of $506,621.70. Following the completion of the sale, the insider directly owned 10,794 shares of the company’s stock, valued at approximately $2,213,957.34. This represents a 18.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Benjamin Walz sold 16,800 shares of Chevron stock in a transaction 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 sale, the insider owned 14 shares of the company’s stock, valued at $2,814.84. The trade was a 99.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.

Chevron Stock Performance

CVX stock opened at $205.25 on Friday. The stock has a market capitalization of $405.53 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 0.62 and a beta of 0.49. Chevron Corporation has a 12-month low of $146.49 and a 12-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 stock’s 50 day simple moving average is $185.03 and its 200 day simple moving average is $188.07.

Chevron (NYSE:CVX) last announced its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.51. The company had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.77 earnings per share. As a group, 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. Investors of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio is presently 68.26%.

Chevron Company 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.