Te Ahumairangi Investment Management Ltd Invests $3.50 Million in Chevron Corporation $CVX

Te Ahumairangi Investment Management Ltd bought a new stake in Chevron Corporation (NYSE:CVX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 21,096 shares of the oil and gas company’s stock, valued at approximately $3,497,000.

Other large investors also recently bought and sold shares of the company. Cornerstone Advisory LLC lifted its position in Chevron by 0.9% during the first quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock valued at $1,164,000 after purchasing an additional 52 shares during the last quarter. Compton Financial Group LLC increased its holdings in shares of Chevron by 1.9% in the 1st quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock worth $609,000 after buying an additional 56 shares during the last quarter. Quantum Portfolio Management LLC raised its position in shares of Chevron by 2.7% during the 1st quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock valued at $435,000 after buying an additional 56 shares in the last quarter. Wealthspire Retirement LLC lifted its holdings in shares of Chevron by 0.9% in the 1st quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company’s stock valued at $1,351,000 after acquiring an additional 56 shares during the last quarter. Finally, D.B. Root & Company LLC grew its position in Chevron by 1.0% in the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock worth $846,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.0%

Shares of NYSE:CVX opened at $205.25 on Monday. 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 firm has a market capitalization 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. The business’s 50-day moving average is $185.03 and its 200 day moving average is $188.17. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $214.71.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion for 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 company’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.77 earnings per share. On average, research analysts predict that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders 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 dividend yield of 3.5%. The ex-dividend date is Wednesday, August 19th. Chevron’s payout ratio is presently 68.26%.

Insider Transactions at Chevron

In other news, insider R. Hewitt Pate sold 2,470 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total value of $506,621.70. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the sale, the chief executive officer directly owned 26,308 shares in the company, valued at $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,152,582 shares of company stock valued at $225,853,661 in the last quarter. 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 Ratings Changes

CVX has been the subject of several analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research note on Friday, July 10th. UBS Group reissued a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. Mizuho set a $224.00 target price on shares of Chevron in a research note on Monday, August 3rd. Finally, Wall Street Zen upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Twenty investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.