Meiji Yasuda Asset Management Co Ltd. Makes New Investment in Chevron Corporation $CVX

Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Chevron Corporation (NYSE:CVX) in the second quarter, HoldingsChannel reports. The institutional investor purchased 44,974 shares of the oil and gas company’s stock, valued at approximately $7,455,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clarion Wealth Managment Partners LLC acquired a new position in Chevron during the 2nd quarter valued at $489,000. Te Ahumairangi Investment Management Ltd bought a new stake in Chevron in the 2nd quarter valued at $3,497,000. Mission Financial Group LLC acquired a new stake in Chevron in the 2nd quarter worth $554,000. Burk Holdings LLC bought a new position in shares of Chevron during the 2nd quarter worth about $42,000. Finally, Elefante Mark B acquired a new position in shares of Chevron during the second quarter valued at about $3,899,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Trending Headlines about 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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CVX shares. The Goldman Sachs Group reissued a “buy” rating and set a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. Bank of America raised their price objective on Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. UBS Group restated a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Sanford C. Bernstein upped their target price on 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 raised Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Twenty research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $207.48.

Insiders Place Their Bets

In other Chevron news, insider Andrew Benjamin Walz sold 16,800 shares of the business’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider R. Hewitt Pate sold 2,470 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were 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 $2,213,957.34. This trade represents a 18.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,152,582 shares of company stock valued at $225,853,661. 0.56% of the stock is owned by corporate insiders.

Chevron Trading Down 0.0%

CVX stock opened at $205.25 on Monday. Chevron Corporation has a 1-year low of $146.49 and a 1-year 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 business’s 50 day moving average is $185.03 and its 200-day moving average is $188.17. The firm has a market cap of $405.53 billion, a P/E ratio of 19.68, a P/E/G ratio of 0.61 and a beta of 0.49.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm earned $1.77 EPS. Chevron’s quarterly revenue was up 57.4% on a year-over-year basis. Equities analysts anticipate that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders 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 dividend 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.