WNY Asset Management LLC Makes New $804,000 Investment in Chevron Corporation $CVX

WNY Asset Management LLC purchased a new position in shares of Chevron Corporation (NYSE:CVX) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 3,884 shares of the oil and gas company’s stock, valued at approximately $804,000.

A number of other hedge funds have also recently modified their holdings of CVX. Norges Bank bought a new position in Chevron in the 4th quarter worth $3,727,586,000. State Street Corp grew its holdings in Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares during the period. Berkshire Hathaway Inc grew its holdings in Chevron by 6.6% during the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after purchasing an additional 8,091,570 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Chevron by 822.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock worth $946,658,000 after buying an additional 5,537,580 shares in the last quarter. Finally, Aristotle Capital Management LLC increased its position in Chevron by 653.0% in the first quarter. Aristotle Capital Management LLC now owns 4,526,223 shares of the oil and gas company’s stock worth $936,492,000 after buying an additional 3,925,137 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Strong earnings beat: Chevron reported adjusted earnings of $12.0 billion, or $6.06 per diluted share, versus analysts’ expectation of $5.55. Reported earnings reached $12.1 billion, the company’s highest quarterly profit in at least six years, while revenue rose 57.4% year over year to $67.2 billion. Chevron records highest quarterly profit in six years, tops estimates
• Positive Sentiment: Higher production and refining performance: Global oil-equivalent production increased 20% to 4.07 million barrels per day, supported by Hess-related assets, the Permian Basin and the Gulf of America. Record U.S. production, strong refining margins and near-full-capacity operations boosted results. CVX Q2 Earnings Beat on Higher Output and Strong Refining Margins
• Positive Sentiment: Excellent cash generation and growth opportunities: Operating cash flow was $22.6 billion, and Chevron maintained its $1.78 quarterly dividend. Management also highlighted expansion plans involving Iraq, Venezuela, Argentina and a 20-year power agreement to supply a Microsoft data center. Chevron CFO on second-quarter earnings, growth plan and Iraq accord
• Neutral Sentiment: Energy-sector tailwind: Rising crude, gasoline and diesel prices, driven by Middle East supply disruptions, lifted Chevron and other integrated oil companies and supported broader energy ETFs. Supermajor Earnings: Exxon and Chevron’s Impact on ETF Market
• Negative Sentiment: Geopolitical and valuation risks remain: Chevron said the conflict reduced output in the Saudi Arabia–Kuwait Partitioned Zone. Executives also warned of escalating supply risks, while potential gasoline-price interventions or windfall taxes could pressure future profits. Analysts noted that some of the earnings improvement may already be reflected in the stock price. Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector

Chevron Price Performance

NYSE:CVX opened at $197.10 on Friday. The business’s 50-day simple moving average is $181.95 and its two-hundred day simple moving average is $184.96. 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 $392.55 billion, a PE ratio of 34.16, a P/E/G ratio of 0.60 and a beta of 0.50. 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 data 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. The firm had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.77 earnings per share. As a group, analysts forecast that Chevron Corporation will post 15.64 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared 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 of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. Chevron’s payout ratio is currently 123.40%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CVX. Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a research report on Thursday, April 9th. Mizuho increased their target price on shares of Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Zacks Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. Finally, Piper Sandler started coverage on shares of Chevron in a research report on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 price target for the company. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $207.17.

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.