QV Investors Inc. Reduces Stake in Chevron Corporation $CVX

QV Investors Inc. cut its stake in Chevron Corporation (NYSE:CVX) by 23.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,457 shares of the oil and gas company’s stock after selling 21,480 shares during the quarter. QV Investors Inc.’s holdings in Chevron were worth $11,679,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Midwest Capital Advisors LLC purchased a new position in Chevron in the first quarter worth approximately $25,000. Main Street Group LTD purchased a new stake in Chevron in the first quarter valued at $28,000. Phillip James Consulting Co. acquired a new position in shares of Chevron in the 4th quarter valued at $26,000. Kilter Group LLC acquired a new position in shares of Chevron in the 2nd quarter valued at $28,000. Finally, Core Wealth Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter worth about $26,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, insider R. Hewitt Pate sold 2,470 shares of the business’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 owned 10,794 shares in the company, valued at $2,213,957.34. The trade was a 18.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael K. Wirth sold 317,100 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the sale, the chief executive officer directly owned 26,308 shares in the company, valued at $5,273,701.68. This represents a 92.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,152,582 shares of company stock worth $225,853,661. 0.56% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CVX shares. Bank of America upped their target price on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Dbs Bank upgraded shares of Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Barclays reduced their price target on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Monday, August 17th. Sanford C. Bernstein upped their price objective on shares of Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Twenty 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $207.48.

Chevron Price Performance

CVX opened at $202.04 on Monday. The stock’s 50-day moving average price is $187.44 and its 200 day moving average price is $188.90. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The firm has a market cap of $399.18 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 0.60 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 (NYSE:CVX) last released its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, beating the consensus estimate of $5.55 by $0.51. The company had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.Chevron’s revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.77 EPS. As a group, sell-side analysts expect that Chevron Corporation will post 16.24 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $1.78 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.5%. Chevron’s payout ratio is 68.26%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is reportedly nearing a deal to migrate all of its Venezuelan joint ventures into a new energy framework, potentially allowing greater operational control and key oilfield expansions. The company already accounts for roughly one-quarter of Venezuela’s oil production. Reuters: Chevron to complete deal in Venezuela to migrate, expand oil projects
• Positive Sentiment: Reports indicate Chevron and oil-services company Halliburton are close to agreements to invest billions of dollars in Venezuelan fields. For Chevron, the opportunity could create a long-term production-growth platform and strengthen its position if Venezuela moves further away from OPEC restrictions. Wall Street Journal: Chevron, Other U.S. Firms Near Deal to Invest Billions in Venezuelan Oil Fields
• Neutral Sentiment: Analyst-oriented coverage is comparing Chevron’s performance with TotalEnergies, while other reports highlight Chevron’s investments in nuclear-fusion technology. Fusion could eventually diversify the company beyond hydrocarbons, but the projects remain experimental and are unlikely to materially affect near-term earnings. Yahoo Finance: What Does Chevron Want From Its Nuclear Fusion Push?
• Negative Sentiment: Venezuelan opposition groups have criticized reports that U.S. companies could receive a large stake in the country’s energy industry. Political resistance, sanctions or regulatory uncertainty could delay the agreement, raise investment costs or limit the expected benefits. The Guardian: Venezuelan opposition reacts to potential U.S. oil stake
• Negative Sentiment: Dividend-focused coverage notes that Chevron’s payout remains exposed to commodity-price cycles. Although the dividend is supported by the company’s scale and balance sheet, weaker oil prices or heavy Venezuelan investment requirements could pressure future cash-flow flexibility. 247WallSt: Chevron or PepsiCo: Whose Dividend Is Standing on Thinner Ice?

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.