NEOS Investment Management LLC Raises Stock Position in Chevron Corporation $CVX

NEOS Investment Management LLC boosted its holdings in shares of Chevron Corporation (NYSE:CVX) by 11.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 305,289 shares of the oil and gas company’s stock after purchasing an additional 32,477 shares during the period. NEOS Investment Management LLC’s holdings in Chevron were worth $50,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Chevron in the second quarter worth about $25,663,729,000. Norges Bank purchased a new position in Chevron during the fourth quarter valued at approximately $3,727,586,000. Bank of New York Mellon Corp purchased a new position in Chevron during the second quarter valued at approximately $2,378,114,000. State Street Corp lifted its holdings in Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after acquiring an additional 12,789,399 shares during the period. Finally, Legal & General Group Plc acquired a new position in Chevron in the second quarter valued at approximately $1,462,412,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In other Chevron news, insider R. Pate sold 2,470 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total transaction of $506,621.70. Following the transaction, the insider directly owned 10,794 shares of the company’s stock, valued at $2,213,957.34. This trade represents a 18.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Wirth sold 317,100 shares of Chevron stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the completion of the sale, the chief executive officer owned 26,308 shares in the company, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,152,582 shares of company stock valued at $225,853,661. Insiders own 0.56% of the company’s stock.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Venezuela expansion offers significant production growth. Chevron plans to invest more than $7 billion over five years, add acreage in Venezuela’s Orinoco Belt and increase joint-venture production from roughly 280,000 barrels per day toward 600,000 barrels per day. Updated fiscal, commercial and legal terms could improve project economics, with reported production costs below $20 per barrel. Chevron expands Venezuela position, to invest $7 billion in next five years
• Positive Sentiment: Oil-price momentum is supporting energy shares. Crude prices above $90 per barrel, strong second-quarter earnings and a 20% increase in worldwide production have boosted sentiment toward Chevron and the broader energy sector. Analysts and dividend-focused coverage also highlight Chevron’s long record of annual dividend increases. Chevron Stock Opinions on Rising Oil Prices
• Neutral Sentiment: Ghana provides another long-term option, but no immediate earnings impact. Chevron and Shell signed a nonbinding preliminary agreement covering potential production rights in Ghana’s South Deepwater Tano Cape Three Points block. Ownership, capital requirements and commercial terms remain undisclosed, so investors have limited visibility into the opportunity. Chevron, Shell sign preliminary agreement with Ghana
• Negative Sentiment: Investors remain concerned about Venezuela’s risks and the scale of spending. The production target depends on infrastructure, financing, sanctions and political stability, while critics question whether Venezuela can deliver the promised growth. Chevron’s shares also trade at elevated levels following the rally, and reported insider activity shows selling rather than purchases, potentially limiting near-term upside.

Chevron Stock Down 0.2%

Shares of CVX opened at $211.45 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The stock’s 50 day moving average is $190.35 and its two-hundred day moving average is $189.64. The firm has a market cap of $417.78 billion, a P/E ratio of 20.27, a PEG ratio of 0.63 and a beta of 0.50.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 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 analysts’ expectations of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business’s revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.77 earnings per share. Analysts predict that Chevron Corporation will post 16.24 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. Shareholders of record on Wednesday, August 19th will be given a dividend of $1.78 per share. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.4%. Chevron’s dividend payout ratio is currently 68.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Zacks Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. UBS Group reaffirmed a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Weiss Ratings raised shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. 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 report on Monday, August 17th. Finally, Sanford C. Bernstein lifted their price objective on shares of Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Twenty research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $211.35.

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.