Chevron Corporation $CVX Shares Sold by HORAN Wealth LLC

HORAN Wealth LLC trimmed its holdings in Chevron Corporation (NYSE:CVX) by 49.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 9,058 shares of the oil and gas company’s stock after selling 8,972 shares during the period. HORAN Wealth LLC’s holdings in Chevron were worth $1,501,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CVX. Midwest Capital Advisors LLC acquired a new position in Chevron in the 1st quarter valued at about $25,000. Core Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter worth approximately $26,000. Phillip James Consulting Co. purchased a new position in shares of Chevron in the 4th quarter valued at approximately $26,000. Basso Capital Management L.P. purchased a new position in shares of Chevron in the 4th quarter valued at approximately $27,000. Finally, Karpus Management Inc. acquired a new position in shares of Chevron in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $208.48 on Monday. The company has a market cap of $411.91 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 0.61 and a beta of 0.50. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The business has a fifty day moving average of $191.10 and a two-hundred day moving average of $189.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. During the same quarter last year, the firm posted $1.77 EPS. The business’s revenue was up 57.4% compared to the same quarter last year. As a group, analysts predict that Chevron Corporation will post 16.51 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.4%. Chevron’s payout ratio is 68.26%.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. Weiss Ratings upgraded Chevron from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Sanford C. Bernstein boosted their price objective on shares of Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Piper Sandler upped their price objective on shares of Chevron from $207.00 to $243.00 and gave the stock an “overweight” rating in a research report on Thursday. Zacks Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Dbs Bank raised shares of Chevron to a “moderate buy” rating in a report on Thursday, August 6th. Twenty analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.35.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s planned investment of more than $7 billion in Venezuela is expected to expand production to approximately 600,000 barrels per day over five years. Investors view the Orinoco Belt opportunity as a potential source of significant production growth and attractive economics. Chevron Commits $7 Billion to Venezuela to Double Production
• Positive Sentiment: Analysts and fund managers remain constructive on Chevron, citing its scale, strong fundamentals, production growth following the Hess acquisition, dividend record and long-term exposure to energy demand. Rising crude prices above $90 per barrel have also supported sentiment toward major oil companies. Why Gabelli Remains Bullish on Chevron
• Positive Sentiment: A preliminary agreement covering Ghana’s South Deepwater Tano Cape Three Points block could provide Chevron with another international growth option, although commercial terms and ownership details have not been finalized. Chevron and Shell Sign Preliminary Ghana Agreement
• Neutral Sentiment: Chevron’s dividend remains a key attraction, with 39 consecutive years of increases. However, its sustainability would be tested if oil prices fall materially from current elevated levels. Chevron’s Dividend and Oil Price Risk
• Negative Sentiment: Investors remain concerned that the Venezuela strategy will require substantial capital, face operational challenges and carry elevated political and execution risk. Critics also question whether the expansion can deliver its projected returns. Capital Requirements and Operational Challenges
• Negative Sentiment: Valuation concerns have become more important after the rally: Chevron is trading near the upper end of its recent range, while reported insider activity has consisted of sales rather than purchases. A decline in oil prices could further pressure earnings and the stock.

Insider Transactions at Chevron

In related news, Director John Hess sold 100,000 shares of Chevron stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the completion of the transaction, the director directly owned 178,045 shares of the company’s stock, valued at approximately $34,587,021.70. The trade was a 35.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $3,377,808.00. Following the completion of the sale, the insider directly owned 14 shares in the company, valued at $2,814.84. This trade represents a 99.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,152,582 shares of company stock worth $225,853,661. 0.56% of the stock is currently owned by insiders.

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.