Worth Asset Management LLC Decreases Stock Position in Chevron Corporation $CVX

Worth Asset Management LLC cut its holdings in Chevron Corporation (NYSE:CVX) by 64.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,664 shares of the oil and gas company’s stock after selling 3,024 shares during the quarter. Worth Asset Management LLC’s holdings in Chevron were worth $276,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. MRA Advisory Group lifted its holdings in shares of Chevron by 416.3% during the second quarter. MRA Advisory Group now owns 9,706 shares of the oil and gas company’s stock valued at $1,609,000 after purchasing an additional 7,826 shares in the last quarter. Beaird Harris Wealth Management LLC increased its holdings in Chevron by 10.9% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 5,699 shares of the oil and gas company’s stock worth $945,000 after buying an additional 560 shares in the last quarter. Gradient Investments LLC raised its position in Chevron by 5.3% in the 2nd quarter. Gradient Investments LLC now owns 324,903 shares of the oil and gas company’s stock worth $53,856,000 after buying an additional 16,469 shares during the last quarter. Quantum Financial Advisors LLC raised its position in Chevron by 5.4% in the 2nd quarter. Quantum Financial Advisors LLC now owns 3,094 shares of the oil and gas company’s stock worth $513,000 after buying an additional 159 shares during the last quarter. Finally, Sprinkle Financial Consultants LLC lifted its stake in Chevron by 5.9% during the 2nd quarter. Sprinkle Financial Consultants LLC now owns 3,423 shares of the oil and gas company’s stock valued at $567,000 after acquiring an additional 192 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CVX shares. Barclays lifted their price target on shares of Chevron from $213.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. The Goldman Sachs Group restated a “buy” rating and set a $216.00 price objective on shares of Chevron in a research report on Wednesday, May 6th. Royal Bank Of Canada restated an “outperform” rating and issued a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. Piper Sandler assumed coverage on shares of Chevron in a research report on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 target price for the company. Finally, Morgan Stanley decreased their target price on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $207.48.

Chevron Trading Down 1.5%

Chevron stock opened at $186.42 on Friday. The business has a 50-day simple moving average of $182.37 and a two-hundred day simple moving average of $185.80. The company has a market cap of $371.28 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.57 and a beta of 0.49. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.14%. The firm had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same quarter in the prior year, the firm earned $1.77 EPS. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. Analysts predict that Chevron Corporation will post 15.86 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced 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. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s dividend payout ratio is currently 68.26%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reported a sharp earnings rebound, with quarterly net income reaching $12.1 billion versus $2.5 billion a year earlier. The company also exceeded earnings and revenue expectations, benefiting from higher energy prices and Middle Eastern supply disruptions. Chevron Turned $3.1 Billion Loss Into A Gain
• Positive Sentiment: Analysts remain constructive, with TD Cowen forecasting meaningful appreciation potential. Coverage also highlights record production, debt reduction and Chevron’s long-term power agreement with Microsoft as support for the investment case. TD Cowen Forecasts Strong Price Appreciation for Chevron
• Positive Sentiment: Chevron’s dividend, scale, financial strength and resilient operations continue to attract income-focused investors despite volatile oil prices. The company is also expanding its North American base-oils distribution network, potentially supporting downstream growth and product diversification. Beyond Oil Prices: The Case for 3 Dividend-Paying Energy Giants
• Neutral Sentiment: Conflict-related uncertainty in the Gulf is keeping energy options premiums elevated and creating trading opportunities around major oil companies. The same volatility could support Chevron’s cash flow, but it also increases commodity and geopolitical risk. Gulf Uncertainty Is Creating a Win-Win Strategy
• Negative Sentiment: Director John B. Hess sold 810,665 shares in disclosed transactions, reducing his holdings substantially. CEO Michael Wirth separately sold 5,547 shares, or 17.41% of his direct position. Large insider sales may pressure sentiment, although they do not necessarily indicate deteriorating business fundamentals. Chevron Director Insider Sale Filing

Insider Buying and Selling

In other news, Director John B. Hess sold 100,000 shares of Chevron 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 owned 178,045 shares in the company, valued at $34,587,021.70. This trade represents a 35.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 5,547 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the sale, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at approximately $4,919,596. The trade was a 17.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,196,212 shares of company stock valued at $231,819,366. 0.56% of the stock is owned by corporate insiders.

About Chevron

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.