MW Advisory LLC Acquires Shares of 2,977 Chevron Corporation $CVX

MW Advisory LLC acquired a new position in Chevron Corporation (NYSE:CVX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,977 shares of the oil and gas company’s stock, valued at approximately $493,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Midwest Capital Advisors LLC bought a new position in Chevron in the first quarter worth about $25,000. Main Street Group LTD bought a new position in shares of Chevron in the 1st quarter worth approximately $28,000. Phillip James Consulting Co. purchased a new position in shares of Chevron in the 4th quarter valued at approximately $26,000. Kilter Group LLC bought a new stake in shares of Chevron during the second quarter valued at approximately $28,000. Finally, Core Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter worth $26,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CVX shares. Wells Fargo & Company boosted their target price on shares of Chevron from $226.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday. Mizuho set a $224.00 price objective on shares of Chevron in a research note on Monday, August 3rd. Jefferies Financial Group restated a “buy” rating and issued a $216.00 price objective on shares of Chevron in a report on Friday, July 10th. Zacks Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Morgan Stanley boosted their price target on Chevron from $210.00 to $218.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Twenty investment 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $211.35.

Chevron Price Performance

CVX opened at $208.48 on Friday. The firm has a market cap of $411.91 billion, a PE ratio of 19.99, a P/E/G ratio of 0.63 and a beta of 0.50. The stock has a 50-day moving average price of $191.10 and a 200-day moving average price of $189.77. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $214.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. The company had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. Chevron’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.77 EPS. Sell-side analysts predict that Chevron Corporation will post 16.24 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Insider Activity

In related news, insider R. 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 transaction, the insider directly owned 10,794 shares in the company, valued at $2,213,957.34. The trade was a 18.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael K. Wirth sold 317,100 shares of the company’s 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 transaction, the chief executive officer directly owned 26,308 shares in the company, valued at $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,152,582 shares of company stock worth $225,853,661. Corporate insiders own 0.56% of the company’s stock.

Chevron News Roundup

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.

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.