PCM Encore LLC Invests $2.50 Million in Chevron Corporation $CVX

PCM Encore LLC purchased a new stake in shares of Chevron Corporation (NYSE:CVX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,066 shares of the oil and gas company’s stock, valued at approximately $2,497,000.

A number of other hedge funds also recently bought and sold shares of the company. Trillium Asset Management LLC purchased a new stake in Chevron during the 2nd quarter valued at about $654,000. Jupiter Wealth Management LLC bought a new stake in Chevron during the 2nd quarter valued at about $249,000. Vise Technologies Inc. purchased a new position in Chevron in the second quarter worth about $27,133,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Chevron in the second quarter worth approximately $795,000. Finally, August Group Capital Ltd bought a new position in shares of Chevron in the second quarter worth approximately $233,000. Institutional investors own 72.42% of the company’s stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron confirmed a sizable oil and gas condensate discovery at the 105-4X well in offshore Angola’s Block 0. The more than 600-meter hydrocarbon column and over 90 meters of net pay could support future production, while a tie-back to existing facilities may reduce development costs. Chevron Angola discovery analysis
• Positive Sentiment: Equinor’s agreement to acquire a 17.4% interest in Chevron-operated offshore Namibia exploration acreage allows CVX to share exploration costs while retaining operatorship, reducing financial exposure ahead of planned 2026 drilling. Equinor enters Namibia with stake in Chevron-operated block
• Positive Sentiment: Options traders purchased unusually large volumes of CVX call options, indicating stronger bullish positioning and potentially adding momentum to the rally.
• Positive Sentiment: Chevron’s shareholder-return profile remains supportive: the company recently declared a $1.78 quarterly dividend, equivalent to $7.12 annually and an approximately 3.5% yield. Its latest quarterly results also exceeded expectations, with adjusted EPS of $6.06 versus $5.55 expected and revenue of $67.2 billion versus $62.72 billion forecast.
• Neutral Sentiment: Analyst sentiment is broadly favorable. Morgan Stanley raised its target to $218 and maintained an overweight rating, while the broader analyst consensus remains “Moderate Buy.” However, the stock’s continued performance is highly sensitive to crude prices and Middle East developments.
• Negative Sentiment: Several insiders sold shares, including CEO Michael Wirth’s sale of 317,100 shares worth about $63.6 million and Andrew Benjamin Walz’s sale of 16,800 shares. These transactions may weigh on sentiment, although they can reflect personal financial planning rather than concerns about Chevron’s fundamentals. Chevron CEO SEC filing

Insider Transactions at Chevron

In related news, Director John B. Hess sold 710,665 shares of Chevron stock in a transaction on 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 completion of the sale, the director owned 363,711 shares of the company’s stock, valued at $70,596,305.10. The trade was a 66.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael K. Wirth sold 317,100 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the sale, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,152,582 shares of company stock valued at $225,853,661. Corporate insiders own 0.56% of the company’s stock.

Chevron Stock Up 0.0%

Shares of Chevron stock opened at $205.85 on Friday. The company has a market cap of $406.71 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 0.63 and a beta of 0.49. The company’s 50 day moving average is $184.67 and its 200 day moving average is $187.95. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last posted its 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. The business had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm’s revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.77 EPS. Research analysts anticipate that Chevron Corporation will post 15.86 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is 68.26%.

Wall Street Analyst Weigh In

CVX has been the subject of several analyst reports. Piper Sandler assumed coverage on shares of Chevron in a research report on Thursday, July 23rd. They set an “overweight” rating and a $207.00 price target for the company. Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research report on Thursday, July 2nd. UBS Group reiterated a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. Finally, TD Cowen upped their price target on Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Twenty equities research 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. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.48.

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.