Sterling Investment Advisors Ltd. Sells 2,953 Shares of Chevron Corporation $CVX

Sterling Investment Advisors Ltd. decreased its stake in Chevron Corporation (NYSE:CVX) by 9.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 27,922 shares of the oil and gas company’s stock after selling 2,953 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Chevron were worth $4,628,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CVX. Midwest Capital Advisors LLC acquired a new position in shares of Chevron in the 1st quarter valued at approximately $25,000. Main Street Group LTD acquired a new stake in shares of Chevron in the first quarter valued at approximately $28,000. Phillip James Consulting Co. bought a new stake in shares of Chevron in the fourth quarter worth $26,000. Kilter Group LLC acquired a new position in Chevron during the second quarter worth $28,000. Finally, Core Wealth Advisors LLC bought a new position in Chevron in the fourth quarter valued at $26,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Venezuela expansion adds production potential: Chevron plans to more than double the number of oil rigs it operates in Venezuela as part of a five-year growth plan. The company’s expanded joint ventures target production of approximately 600,000 barrels per day and include additional acreage in the Carabobo region. The initiative could provide meaningful production growth and leverage Venezuela’s large reserves. Chevron to double oil rigs in Venezuela as part of growth plan
• Positive Sentiment: Large investment signals confidence in long-term growth: Chevron is expected to invest more than $7 billion over five years to expand its Venezuelan operations. Management says strong cash flow and synergies from the Hess transaction give the company financial flexibility to pursue the expansion while continuing to support shareholders. Chevron doubles down on Venezuela with a $7 billion oil bet
• Positive Sentiment: Oil-market backdrop remains supportive: Reports of higher oil prices amid escalating Middle East tensions are supporting energy-sector sentiment and Chevron’s earnings outlook. Analysts have also argued that the company’s rally could continue, citing strong energy prices, earnings and operating fundamentals. Stock Market Today: Dow dives, oil pops
• Neutral Sentiment: Management commentary reinforces the strategy: At Barclays’ energy conference, Chevron executives discussed the Venezuela growth plan and broader operating priorities. Investors will look for additional detail on capital spending, production timing and returns. Chevron presents at Barclays energy conference
• Negative Sentiment: Valuation and geopolitical risks are rising: Chevron has surged more than 40% this year and is close to its 52-week high, leaving less room for disappointment. Venezuela’s political, sanctions and operational risks could delay or reduce the expected benefits of the expansion. Chevron stock is near a record high
• Neutral Sentiment: Dividend appeal remains intact but requires substantial capital: An investor starting from scratch would need more than $146,000 in Chevron shares to generate $5,000 in annual passive income at current dividend levels. This highlights the income potential but is unlikely to be a major near-term trading catalyst. How many shares of Chevron are needed for annual passive income

Insiders Place Their Bets

In other Chevron news, CEO Michael Wirth sold 317,100 shares of Chevron stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the sale, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $5,273,701.68. The trade was a 92.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider R. Pate sold 2,470 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were 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 approximately $2,213,957.34. This trade represents a 18.62% decrease in their ownership of the stock. 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 worth $225,853,661. Company insiders own 0.56% of the company’s stock.

Chevron Trading Up 0.7%

CVX opened at $210.09 on Wednesday. Chevron Corporation has a 1-year low of $146.49 and a 1-year 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 company has a market cap of $415.08 billion, a P/E ratio of 20.14, a PEG ratio of 0.61 and a beta of 0.50. The company’s 50 day moving average is $192.79 and its 200-day moving average is $190.20.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. The company had revenue of $67.20 billion for 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 quarterly revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.77 earnings per share. Equities research analysts predict that Chevron Corporation will post 16.51 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.4%. Chevron’s dividend payout ratio (DPR) is currently 68.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Jefferies Financial Group restated a “buy” rating and set a $216.00 price objective on shares of Chevron in a research note on Friday, July 10th. BMO Capital Markets upped their price objective on Chevron from $210.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Barclays reduced their target price on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a report on Monday, August 17th. Wells Fargo & Company boosted their price target on Chevron from $226.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Finally, UBS Group reissued a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Twenty research 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.35.

Chevron Profile

Chevron Corporation is an integrated energy company engaged in the exploration, production, transportation and sale of crude oil and natural gas. The company also manufactures and markets transportation fuels, lubricants, petrochemicals and additives through operations and brands that include Chevron, Texaco and Caltex.

Chevron’s upstream activities include oil and natural gas exploration and production, while its downstream business includes refining, fuel marketing, transportation and related energy services.