Trillium Asset Management LLC Makes New $654,000 Investment in Chevron Corporation $CVX

Trillium Asset Management LLC bought a new stake in shares of Chevron Corporation (NYSE:CVX) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,948 shares of the oil and gas company’s stock, valued at approximately $654,000.

Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. bought a new position in Chevron in the second quarter valued at approximately $25,663,729,000. State Street Corp raised its position in shares of Chevron by 9.1% during the 3rd 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 acquiring an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc lifted its stake in shares of Chevron by 6.6% in the 4th 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. Geode Capital Management LLC lifted its stake in shares of Chevron by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after purchasing an additional 134,890 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Chevron by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock worth $5,492,377,000 after purchasing an additional 961,341 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of analyst reports. Morgan Stanley lifted their price objective on Chevron from $210.00 to $218.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wolfe Research upgraded Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Thursday, July 2nd. Piper Sandler initiated coverage on Chevron in a research report on Thursday, July 23rd. They set an “overweight” rating and a $207.00 target price for the company. Barclays lowered their price target on Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, Weiss Ratings raised shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $207.48.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Brent crude recently approached $94–$95 per barrel amid renewed Middle East tensions and concerns about Strait of Hormuz disruptions. Sustained higher oil prices typically benefit Chevron’s upstream revenue, margins and cash flow. Chevron jumps as Brent crude approaches $94
• Positive Sentiment: Chevron confirmed an oil and gas condensate discovery at the 105-4X well in offshore Angola. Its proximity to existing facilities could allow a lower-cost tie-back, creating a potential source of future production. Chevron Angola discovery analysis
• Positive Sentiment: Chevron’s $1.78 quarterly dividend, equal to $7.12 annually and an approximately 3.5% yield, reinforces its appeal to income investors. The company also recently exceeded quarterly earnings and revenue expectations. Chevron raises dividend
• Neutral Sentiment: Analysis comparing Chevron with Exxon Mobil highlights differing long-term strategies, including Chevron’s continued emphasis on oil and gas. The approach could benefit from strong commodity prices but leaves CVX more exposed to future oil-demand and price cycles. Chevron versus Exxon Mobil analysis
• Negative Sentiment: Iraq plans to more than double its oil output over the next six years. If achieved, the added supply could pressure global crude prices and reduce the earnings benefit Chevron receives from today’s elevated prices. Iraq oil output and Chevron
• Negative Sentiment: Two Chevron insiders sold shares recently: Andrew Benjamin Walz sold 16,800 shares, while R. Hewitt Pate sold 2,470 shares. Although such transactions may reflect personal financial planning, they can create a modest sentiment overhang. Chevron insider sale report
• Negative Sentiment: A separate analysis says concerns remain centered on Chevron, including issues surrounding its Hess Midstream exposure and broader execution risks. The report may temper enthusiasm after CVX’s recent advance. Hess Midstream: The Issue Remains With Chevron

Chevron Trading Down 0.3%

NYSE CVX opened at $205.25 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The stock’s 50-day moving average is $185.03 and its 200-day moving average is $188.07. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The firm has a market cap of $405.53 billion, a P/E ratio of 19.68, a P/E/G ratio of 0.62 and a beta of 0.49.

Chevron (NYSE:CVX) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $62.72 billion. During the same period in the prior year, the business earned $1.77 EPS. Chevron’s revenue for the quarter was up 57.4% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 100,000 shares of Chevron stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.26, for a total value of $19,426,000.00. Following the sale, the director owned 178,045 shares of the company’s stock, valued at $34,587,021.70. This trade represents a 35.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider R. Hewitt Pate sold 2,470 shares of the business’s stock in a transaction dated 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 sale, the insider owned 10,794 shares in the company, valued at approximately $2,213,957.34. This trade represents a 18.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,152,582 shares of company stock valued at $225,853,661. 0.56% of the stock is owned by insiders.

Chevron Company 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.