Danske Bank A S bought a new stake in shares of Chevron Corporation (NYSE:CVX – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 72,096 shares of the oil and gas company’s stock, valued at approximately $11,951,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron during the 1st quarter valued at about $25,000. Core Wealth Advisors LLC acquired a new position in Chevron in the fourth quarter valued at about $26,000. Phillip James Consulting Co. bought a new position in shares of Chevron in the fourth quarter valued at approximately $26,000. Basso Capital Management L.P. acquired a new stake in Chevron during the 4th quarter valued at $27,000. Finally, Karpus Management Inc. acquired a new stake in shares of Chevron in the fourth quarter valued at $27,000. 72.42% of the stock is currently owned by institutional investors.
Insider Activity at Chevron
In related news, CEO Michael K. 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 transaction of $63,565,866.00. Following the completion of the sale, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider R. Hewitt Pate sold 2,470 shares of the company’s stock in a transaction 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 represents a 18.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,152,582 shares of company stock valued at $225,853,661 in the last 90 days. Insiders own 0.56% of the company’s stock.
Chevron News Roundup
- Positive Sentiment: Chevron confirmed a sizable oil and gas condensate discovery at the 105-4X well in offshore Angola’s Block 0. The more than 600-meter hydrocarbon column and over 90 meters of net pay could support future production, while a tie-back to existing facilities may reduce development costs. Chevron Angola discovery analysis
- Positive Sentiment: Equinor’s agreement to acquire a 17.4% interest in Chevron-operated offshore Namibia exploration acreage allows CVX to share exploration costs while retaining operatorship, reducing financial exposure ahead of planned 2026 drilling. Equinor enters Namibia with stake in Chevron-operated block
- Positive Sentiment: Options traders purchased unusually large volumes of CVX call options, indicating stronger bullish positioning and potentially adding momentum to the rally.
- Positive Sentiment: Chevron’s shareholder-return profile remains supportive: the company recently declared a $1.78 quarterly dividend, equivalent to $7.12 annually and an approximately 3.5% yield. Its latest quarterly results also exceeded expectations, with adjusted EPS of $6.06 versus $5.55 expected and revenue of $67.2 billion versus $62.72 billion forecast.
- Neutral Sentiment: Analyst sentiment is broadly favorable. Morgan Stanley raised its target to $218 and maintained an overweight rating, while the broader analyst consensus remains “Moderate Buy.” However, the stock’s continued performance is highly sensitive to crude prices and Middle East developments.
- Negative Sentiment: Several insiders sold shares, including CEO Michael Wirth’s sale of 317,100 shares worth about $63.6 million and Andrew Benjamin Walz’s sale of 16,800 shares. These transactions may weigh on sentiment, although they can reflect personal financial planning rather than concerns about Chevron’s fundamentals. Chevron CEO SEC filing
Wall Street Analysts Forecast Growth
Several analysts have recently commented on CVX shares. The Goldman Sachs Group reissued a “buy” rating and set a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. UBS Group reaffirmed a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Weiss Ratings upgraded shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. TD Cowen boosted their target price on Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Chevron from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Twenty analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $207.48.
Read Our Latest Stock Analysis on CVX
Chevron Stock Performance
CVX opened at $205.85 on Friday. 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 Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The business has a 50 day moving average of $184.67 and a 200-day moving average of $187.95. The stock has a market cap of $406.71 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 0.63 and a beta of 0.49.
Chevron (NYSE:CVX – Get Free Report) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same period in the previous year, the firm earned $1.77 EPS. The firm’s revenue was up 57.4% compared to the same quarter last year. On average, equities research analysts expect that Chevron Corporation will post 15.86 earnings per share for the current year.
Chevron Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a $1.78 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.5%. Chevron’s dividend payout ratio is 68.26%.
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.
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