IFP Advisors Inc Sells 10,006 Shares of Chevron Corporation $CVX

IFP Advisors Inc lowered its holdings in Chevron Corporation (NYSE:CVX – Free Report) by 13.2% in the 2nd quarter, Holdings Channel reports. The firm owned 65,858 shares of the oil and gas company’s stock after selling 10,006 shares during the period. IFP Advisors Inc’s holdings in Chevron were worth $10,917,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVX. Baird Financial Group Inc. grew its position in Chevron by 2.9% in the 2nd quarter. Baird Financial Group Inc. now owns 1,728,643 shares of the oil and gas company’s stock worth $286,540,000 after purchasing an additional 49,485 shares during the period. Stableford Capital II LLC boosted its stake in shares of Chevron by 26.2% in the 2nd quarter. Stableford Capital II LLC now owns 6,354 shares of the oil and gas company’s stock worth $1,053,000 after buying an additional 1,319 shares during the last quarter. XY Planning Network Inc. boosted its stake in shares of Chevron by 26.8% in the 2nd quarter. XY Planning Network Inc. now owns 3,640 shares of the oil and gas company’s stock worth $603,000 after buying an additional 770 shares during the last quarter. Ramsay Stattman Vela & Price Inc. grew its holdings in shares of Chevron by 0.6% in the second quarter. Ramsay Stattman Vela & Price Inc. now owns 39,685 shares of the oil and gas company’s stock worth $6,578,000 after acquiring an additional 250 shares during the period. Finally, Mraz Amerine & Associates Inc. grew its holdings in shares of Chevron by 2.7% in the second quarter. Mraz Amerine & Associates Inc. now owns 9,315 shares of the oil and gas company’s stock worth $1,544,000 after acquiring an additional 247 shares during the period. 72.42% of the stock is owned by institutional investors.

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Chevron News Roundup

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

Insider Activity at Chevron

In related news, insider Andrew Walz sold 16,800 shares of the company’s stock in a transaction 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 completion of the transaction, the insider owned 14 shares in the company, valued at approximately $2,814.84. This represents a 99.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hess sold 100,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the transaction, the director directly owned 178,045 shares of the company’s stock, valued at $34,587,021.70. The trade was a 35.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,152,582 shares of company stock worth $225,853,661. 0.56% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CVX shares. UBS Group reaffirmed a “buy” rating on shares of Chevron in a research 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. Wall Street Zen upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Sanford C. Bernstein upped their target price 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. Finally, Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Thursday, July 2nd. Twenty equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.35.

View Our Latest Report on Chevron

Chevron Price Performance

NYSE:CVX opened at $210.09 on Wednesday. The business’s 50-day simple moving average is $192.79 and its two-hundred day simple moving average is $190.20. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The stock has a market cap of $415.08 billion, a PE ratio of 20.14, a P/E/G ratio of 0.61 and a beta of 0.50. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX – Get Free Report) last released its 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 return on equity of 11.09% and a net margin of 9.57%.The firm had revenue of $67.20 billion during the quarter, compared to analysts’ expectations of $62.72 billion. During the same quarter last year, the business posted $1.77 earnings per share. The firm’s revenue was up 57.4% on a year-over-year basis. As a group, analysts forecast 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. Stockholders 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 annualized dividend and a dividend yield of 3.4%. Chevron’s dividend payout ratio (DPR) is presently 68.26%.

About Chevron

(Free Report)

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.

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