United Bank bought a new position in Chevron Corporation (NYSE:CVX – Free Report) during the second quarter, Holdings Channel.com reports. The fund bought 10,436 shares of the oil and gas company’s stock, valued at approximately $1,730,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Chevron in the second quarter valued at $25,663,729,000. Norges Bank acquired a new stake in shares of Chevron during the fourth quarter worth $3,727,586,000. Bank of New York Mellon Corp purchased a new stake in shares of Chevron during the second quarter valued at $2,378,114,000. State Street Corp boosted its position in shares of Chevron by 9.1% in the 3rd 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 purchasing an additional 12,789,399 shares during the period. Finally, Berkshire Hathaway Inc boosted its position in shares of Chevron by 6.6% in the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after purchasing an additional 8,091,570 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.
Chevron Stock Up 0.0%
NYSE:CVX opened at $205.78 on Thursday. The business’s fifty day moving average price is $184.27 and its 200 day moving average price is $187.75. The firm has a market capitalization of $406.57 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 0.63 and a beta of 0.49. 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 1-year low of $146.49 and a 1-year high of $214.71.
Chevron Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s dividend payout ratio is 68.26%.
Insider Buying and Selling
In other Chevron news, Director John B. Hess sold 100,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the sale, the director owned 178,045 shares in the company, valued at $34,587,021.70. This represents a 35.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. The trade was a 92.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,150,112 shares of company stock worth $225,347,040. 0.56% of the stock is owned by company insiders.
Trending Headlines about Chevron
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Chevron announced an oil and gas condensate discovery at the 105-4X well in offshore Angola’s Block 0. The well encountered a hydrocarbon column exceeding 600 meters and more than 90 meters of net pay; its proximity to existing infrastructure could allow a relatively low-cost tie-back and support future production growth. Chevron Angola discovery article
- Positive Sentiment: Equinor agreed to acquire a 17.4% interest in Chevron-operated exploration licence PEL 90 offshore Namibia. The partnership shares exploration costs while Chevron retains operatorship, reducing financial exposure ahead of a planned 2026 drilling program in the Orange Basin. Equinor Namibia stake article
- Positive Sentiment: Traders purchased 62,675 CVX call options, roughly 45% above typical volume, signaling increased near-term bullish interest.
- Positive Sentiment: Chevron’s quarterly dividend of $1.78 per share is scheduled for September 10, representing a $7.12 annualized payout and an approximately 3.5% yield. The dividend supports CVX’s appeal to income-focused investors.
- Neutral Sentiment: Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $207.13, although the target implies limited upside from recent levels.
- Negative Sentiment: CEO Michael Wirth sold 317,100 shares for approximately $63.6 million, reducing his reported ownership by 92.34%. Another insider, Andrew Benjamin Walz, sold 16,800 shares for about $3.4 million. The transactions may weigh on sentiment, although insider sales can reflect personal or scheduled financial planning. Chevron insider filing
- Negative Sentiment: Recent weakness in oil prices remains a risk because lower commodity prices can reduce Chevron’s upstream revenue, earnings and cash flow.
Analyst Ratings Changes
CVX has been the topic of several recent analyst reports. Jefferies Financial Group restated a “buy” rating and set a $216.00 price objective on shares of Chevron in a report on Friday, July 10th. Bank of America raised their target price on shares of Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. UBS Group reissued a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. The Goldman Sachs Group restated a “buy” rating and set a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $207.48.
Get Our Latest Analysis on Chevron
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.
Featured Articles
- Five stocks we like better than Chevron
- Bloom Energy’s AI Surge Meets a Valuation Reality Check
- Target Is Winning Shoppers Back—Can the Rally Reach $180?
- IonQ’s Space Contract Points to a New Frontier for Quantum Investors
- Is Apple’s AI Strategy Smarter Than Skeptics Think?
Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX – Free Report).
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.
