Fulcrum Asset Management LLP Grows Position in Chevron Corporation $CVX

Fulcrum Asset Management LLP boosted its position in shares of Chevron Corporation (NYSE:CVX) by 54.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 32,955 shares of the oil and gas company’s stock after acquiring an additional 11,669 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Chevron were worth $5,552,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Glenview Trust Co boosted its holdings in shares of Chevron by 1.1% in the second quarter. Glenview Trust Co now owns 249,324 shares of the oil and gas company’s stock valued at $41,328,000 after acquiring an additional 2,755 shares during the period. Maxele Advisors LLC purchased a new stake in Chevron in the 2nd quarter valued at $250,000. Empowered Funds LLC raised its position in Chevron by 6.1% in the 2nd quarter. Empowered Funds LLC now owns 794,393 shares of the oil and gas company’s stock valued at $131,679,000 after purchasing an additional 45,511 shares during the last quarter. Dearborn Partners LLC acquired a new stake in Chevron during the 2nd quarter worth $6,818,000. Finally, Brooks Moore & Associates Inc. boosted its stake in Chevron by 6.5% during the 2nd quarter. Brooks Moore & Associates Inc. now owns 31,214 shares of the oil and gas company’s stock worth $5,174,000 after purchasing an additional 1,900 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CVX shares. Royal Bank Of Canada restated an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a research note on Tuesday, May 5th. Sanford C. Bernstein boosted their price target on Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Dbs Bank raised Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Weiss Ratings raised Chevron from a “hold (c)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Finally, Mizuho set a $224.00 target price on Chevron in a research note on Monday, August 3rd. Twenty investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $207.48.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 710,665 shares of the business’s stock in a transaction on 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 sale, the director directly owned 363,711 shares in the company, valued at approximately $70,596,305.10. The trade was a 66.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Benjamin Walz sold 16,800 shares of the company’s stock in a transaction on Monday, August 17th. The stock was 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 in the company, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,152,582 shares of company stock worth $225,853,661. Insiders own 0.56% of the company’s stock.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is reportedly nearing a deal to migrate all of its Venezuelan joint ventures into a new energy framework, potentially allowing greater operational control and key oilfield expansions. The company already accounts for roughly one-quarter of Venezuela’s oil production. Reuters: Chevron to complete deal in Venezuela to migrate, expand oil projects
• Positive Sentiment: Reports indicate Chevron and oil-services company Halliburton are close to agreements to invest billions of dollars in Venezuelan fields. For Chevron, the opportunity could create a long-term production-growth platform and strengthen its position if Venezuela moves further away from OPEC restrictions. Wall Street Journal: Chevron, Other U.S. Firms Near Deal to Invest Billions in Venezuelan Oil Fields
• Neutral Sentiment: Analyst-oriented coverage is comparing Chevron’s performance with TotalEnergies, while other reports highlight Chevron’s investments in nuclear-fusion technology. Fusion could eventually diversify the company beyond hydrocarbons, but the projects remain experimental and are unlikely to materially affect near-term earnings. Yahoo Finance: What Does Chevron Want From Its Nuclear Fusion Push?
• Negative Sentiment: Venezuelan opposition groups have criticized reports that U.S. companies could receive a large stake in the country’s energy industry. Political resistance, sanctions or regulatory uncertainty could delay the agreement, raise investment costs or limit the expected benefits. The Guardian: Venezuelan opposition reacts to potential U.S. oil stake
• Negative Sentiment: Dividend-focused coverage notes that Chevron’s payout remains exposed to commodity-price cycles. Although the dividend is supported by the company’s scale and balance sheet, weaker oil prices or heavy Venezuelan investment requirements could pressure future cash-flow flexibility. 247WallSt: Chevron or PepsiCo: Whose Dividend Is Standing on Thinner Ice?

Chevron Stock Up 1.1%

Shares of NYSE:CVX opened at $202.04 on Friday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week 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. The firm’s 50-day simple moving average is $187.44 and its 200-day simple moving average is $188.85. The company has a market cap of $399.18 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 0.60 and a beta of 0.49.

Chevron (NYSE:CVX) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $62.72 billion. During the same period in the prior year, the company posted $1.77 earnings per share. The firm’s revenue for the quarter was up 57.4% on a year-over-year basis. As a group, equities research analysts predict that Chevron Corporation will post 16.17 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared 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 is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.5%. Chevron’s payout ratio is 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.