Chevron Corporation $CVX Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in Chevron Corporation (NYSE:CVX) by 0.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,507,330 shares of the oil and gas company’s stock after selling 11,097 shares during the period. Wellington Management Group LLP’s holdings in Chevron were worth $415,615,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron in the first quarter valued at about $25,000. Core Wealth Advisors LLC purchased a new stake in Chevron during the 4th quarter valued at about $26,000. Phillip James Consulting Co. purchased a new stake in Chevron during the 4th quarter valued at about $26,000. Basso Capital Management L.P. acquired a new stake in Chevron in the 4th quarter valued at about $27,000. Finally, Karpus Management Inc. acquired a new stake in Chevron in the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Trending Headlines about 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?

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 317,100 shares of Chevron stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the sale, the chief executive officer owned 26,308 shares in the company, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R. Hewitt Pate sold 2,470 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 10,794 shares in the company, valued at approximately $2,213,957.34. The trade was a 18.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,152,582 shares of company stock worth $225,853,661. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Zacks Research cut Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. UBS Group reaffirmed a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Morgan Stanley lifted their price objective on Chevron from $210.00 to $218.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Dbs Bank raised Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Finally, Barclays dropped their target price on Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a report on Monday, August 17th. Twenty equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $207.48.

Chevron Stock Up 1.1%

Shares of CVX opened at $202.04 on Friday. The company’s 50-day moving average price is $187.44 and its 200 day moving average price is $188.85. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The firm has a market cap of $399.18 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49.

Chevron (NYSE:CVX) last announced its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same quarter last year, the firm posted $1.77 earnings per share. Chevron’s revenue was up 57.4% compared to the same quarter last year. On average, sell-side analysts forecast that Chevron Corporation will post 16.24 earnings per share for the current year.

Chevron Dividend Announcement

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

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.