National Pension Service Acquires 46,519 Shares of Chevron Corporation $CVX

National Pension Service boosted its holdings in Chevron Corporation (NYSE:CVX) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,525,852 shares of the oil and gas company’s stock after acquiring an additional 46,519 shares during the quarter. National Pension Service owned 0.23% of Chevron worth $750,205,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CVX. Midwest Capital Advisors LLC bought a new position in shares of Chevron during the 1st quarter worth approximately $25,000. Core Wealth Advisors LLC acquired a new stake in Chevron in the 4th quarter valued at $26,000. Phillip James Consulting Co. bought a new stake in Chevron in the fourth quarter valued at $26,000. Basso Capital Management L.P. bought a new stake in Chevron in the fourth quarter valued at $27,000. Finally, Karpus Management Inc. acquired a new position in Chevron during the fourth quarter worth $27,000. Institutional investors own 72.42% of the company’s stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Brent crude rose above $100 per barrel and WTI topped $95 amid escalating Middle East tensions. Higher oil prices can support Chevron’s upstream revenue, earnings and cash flow. Comparing Energy ETFs: Positioning Portfolios as Oil Hits $100
• Positive Sentiment: Chevron plans to double its Venezuelan oil rigs as part of a five-year, roughly $7 billion investment program, targeting production of up to 600,000 barrels per day by 2031. The expansion offers significant long-term volume growth if political, regulatory and operating conditions cooperate. Chevron to double oil rigs in Venezuela as part of growth plan
• Positive Sentiment: Chief Financial Officer Eimear Bonner emphasized Chevron’s scale, cost-efficiency efforts in U.S. shale and global expansion. Investors may view these initiatives, along with Hess-related synergies and strong free cash flow, as evidence of greater financial flexibility. Chevron CFO Says Oil Giant Is Bigger, Better and Stronger Than We’ve Ever Been
• Positive Sentiment: Chevron remains attractive to income-oriented investors because of its scale, balance-sheet strength and shareholder returns, particularly while energy prices are elevated. Oil Prices Are Climbing, Yet These 3 Energy Stocks Yield 3%+

Insider Activity at Chevron

In other news, insider R. Pate sold 2,470 shares of the company’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 transaction of $506,621.70. Following the transaction, the insider directly owned 10,794 shares in the company, valued at approximately $2,213,957.34. This represents a 18.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew Walz sold 16,800 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the sale, the insider directly owned 14 shares in the company, valued at $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 90 days, insiders have sold 1,152,582 shares of company stock worth $225,853,661. 0.56% of the stock is owned by insiders.

Chevron Trading Up 1.9%

Shares of CVX opened at $213.69 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The company has a market cap of $422.20 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 0.62 and a beta of 0.50. The stock has a fifty day moving average price of $193.75 and a two-hundred day moving average price of $190.40. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $215.28.

Chevron (NYSE:CVX) last announced its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. During the same quarter in the prior year, the business earned $1.77 earnings per share. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. Analysts predict that Chevron Corporation will post 16.51 EPS 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 issued a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.3%. Chevron’s dividend payout ratio is currently 68.26%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. BMO Capital Markets lifted their price objective on Chevron from $210.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, September 3rd. Morgan Stanley upped their target price on shares of Chevron from $210.00 to $218.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Dbs Bank upgraded shares of Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Mizuho set a $224.00 price target on shares of Chevron in a research report on Monday, August 3rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $216.00 price objective on shares of Chevron in a research note on Friday, July 10th. Twenty research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $211.35.

Chevron Company 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.