Robinhood Asset Management LLC Takes Position in Chevron Corporation $CVX

Robinhood Asset Management LLC purchased a new position in Chevron Corporation (NYSE:CVX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 82,674 shares of the oil and gas company’s stock, valued at approximately $13,704,000. Chevron comprises 0.7% of Robinhood Asset Management LLC’s holdings, making the stock its 25th largest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Midwest Capital Advisors LLC bought a new position in Chevron in the first quarter valued at about $25,000. Core Wealth Advisors LLC purchased a new position in Chevron in the fourth quarter worth about $26,000. Phillip James Consulting Co. bought a new stake in shares of Chevron during the 4th quarter valued at about $26,000. Basso Capital Management L.P. bought a new stake in shares of Chevron during the 4th quarter valued at about $27,000. Finally, Karpus Management Inc. purchased a new stake in shares of Chevron during the 4th quarter valued at about $27,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

More 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 at Chevron

In other Chevron news, Director John B. Hess sold 710,665 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the transaction, the director owned 363,711 shares of the company’s stock, valued at $70,596,305.10. This represents a 66.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew Benjamin Walz sold 16,800 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the transaction, the insider directly owned 14 shares of the company’s stock, valued at $2,814.84. This trade represents a 99.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,152,582 shares of company stock valued at $225,853,661. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of several recent research reports. Zacks Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Sanford C. Bernstein boosted their target price on shares of Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $216.00 price target on shares of Chevron in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Barclays dropped their price target on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Monday. Twenty investment 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $207.48.

Chevron Stock Performance

NYSE:CVX opened at $205.25 on Friday. 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 has a market capitalization of $405.53 billion, a P/E ratio of 19.68, a P/E/G ratio of 0.62 and a beta of 0.49. The stock has a 50-day moving average price of $185.03 and a 200 day moving average price of $188.07.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. The business 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 company’s revenue was up 57.4% on a year-over-year basis. During the same period last year, the firm posted $1.77 EPS. Equities research analysts forecast that Chevron Corporation will post 16.17 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a dividend of $1.78 per share. 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 dividend payout ratio (DPR) is presently 68.26%.

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.