10,639 Shares in Chevron Corporation $CVX Purchased by Evolve Private Wealth LLC

Evolve Private Wealth LLC acquired a new position in Chevron Corporation (NYSE:CVX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 10,639 shares of the oil and gas company’s stock, valued at approximately $1,764,000.

A number of other institutional investors have also recently bought and sold shares of the business. Martin & Co. Inc. TN acquired a new stake in shares of Chevron during the 2nd quarter worth $2,139,000. WealthShield Partners LLC acquired a new position in Chevron in the second quarter valued at about $398,000. Farringdon Capital Ltd. acquired a new position in Chevron in the second quarter valued at about $600,000. W1M Asset Management Ltd bought a new stake in Chevron during the second quarter worth about $2,942,000. Finally, Madison Wealth Partners Inc bought a new stake in Chevron during the second quarter worth about $643,000. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 100,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the sale, the director directly owned 178,045 shares in the company, valued at $34,587,021.70. This represents a 35.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andrew Benjamin Walz sold 16,800 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider directly owned 14 shares of the company’s stock, valued at approximately $2,814.84. This represents a 99.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,152,582 shares of company stock worth $225,853,661. Company insiders own 0.56% of the company’s stock.

Key Stories Impacting 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 Upgrades and Downgrades

Several equities analysts have commented on the stock. Mizuho set a $224.00 target price on shares of Chevron in a report on Monday, August 3rd. Dbs Bank upgraded shares of Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research note on Thursday, July 2nd. Zacks Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $216.00 target price on shares of Chevron in a research note on Wednesday, May 6th. Twenty analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $207.48.

Chevron Stock Performance

Shares of CVX stock opened at $205.25 on Friday. The firm has a market capitalization of $405.53 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 0.61 and a beta of 0.49. 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 price is $185.03 and its 200-day moving average price is $188.07. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71.

Chevron (NYSE:CVX) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $62.72 billion. During the same period in the previous year, the firm posted $1.77 EPS. The company’s revenue for the quarter was up 57.4% compared to the same quarter last year. Equities research analysts forecast that Chevron Corporation will post 16.17 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.5%. Chevron’s payout ratio is currently 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.