January Capital Advisors LLC Sells 3,000 Shares of Chevron Corporation $CVX

January Capital Advisors LLC trimmed its position in Chevron Corporation (NYSE:CVX) by 53.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,618 shares of the oil and gas company’s stock after selling 3,000 shares during the quarter. January Capital Advisors LLC’s holdings in Chevron were worth $434,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CVX. California State Teachers Retirement System grew its stake in Chevron by 19,425.5% during the second quarter. California State Teachers Retirement System now owns 432,663,934 shares of the oil and gas company’s stock valued at $71,718,374,000 after acquiring an additional 430,448,040 shares in the last quarter. BlackRock Inc. purchased a new stake in Chevron in the 2nd quarter worth approximately $25,663,729,000. Norges Bank bought a new position in Chevron in the 4th quarter valued at $3,727,586,000. Bank of New York Mellon Corp bought a new position in Chevron in the 2nd quarter valued at $2,378,114,000. Finally, State Street Corp grew its position 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. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of Chevron stock opened at $208.48 on Monday. The stock has a market capitalization of $411.91 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 0.61 and a beta of 0.50. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The business’s 50 day simple moving average is $191.10 and its two-hundred day simple moving average is $189.82.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. During the same quarter last year, the business earned $1.77 earnings per share. The business’s revenue was up 57.4% on a year-over-year basis. Analysts forecast that Chevron Corporation will post 16.51 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is 68.26%.

Insider Activity

In related news, Director John B. Hess sold 710,665 shares of the firm’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 directly owned 363,711 shares of the company’s stock, valued at $70,596,305.10. This trade represents a 66.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew 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 transaction, the insider owned 14 shares in the company, valued at approximately $2,814.84. This represents a 99.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,152,582 shares of company stock worth $225,853,661 over the last ninety days. 0.56% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CVX. Weiss Ratings upgraded Chevron from a “hold (c)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Bank of America boosted their target price on Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Morgan Stanley lifted their price target on Chevron from $210.00 to $218.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Mizuho set a $224.00 price objective on shares of Chevron in a report on Monday, August 3rd. Finally, TD Cowen upped their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Twenty equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.35.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s planned investment of more than $7 billion in Venezuela is expected to expand production to approximately 600,000 barrels per day over five years. Investors view the Orinoco Belt opportunity as a potential source of significant production growth and attractive economics. Chevron Commits $7 Billion to Venezuela to Double Production
• Positive Sentiment: Analysts and fund managers remain constructive on Chevron, citing its scale, strong fundamentals, production growth following the Hess acquisition, dividend record and long-term exposure to energy demand. Rising crude prices above $90 per barrel have also supported sentiment toward major oil companies. Why Gabelli Remains Bullish on Chevron
• Positive Sentiment: A preliminary agreement covering Ghana’s South Deepwater Tano Cape Three Points block could provide Chevron with another international growth option, although commercial terms and ownership details have not been finalized. Chevron and Shell Sign Preliminary Ghana Agreement
• Neutral Sentiment: Chevron’s dividend remains a key attraction, with 39 consecutive years of increases. However, its sustainability would be tested if oil prices fall materially from current elevated levels. Chevron’s Dividend and Oil Price Risk
• Negative Sentiment: Investors remain concerned that the Venezuela strategy will require substantial capital, face operational challenges and carry elevated political and execution risk. Critics also question whether the expansion can deliver its projected returns. Capital Requirements and Operational Challenges
• Negative Sentiment: Valuation concerns have become more important after the rally: Chevron is trading near the upper end of its recent range, while reported insider activity has consisted of sales rather than purchases. A decline in oil prices could further pressure earnings and the stock.

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.