NorthRock Partners LLC Sells 4,563 Shares of Chevron Corporation $CVX

NorthRock Partners LLC reduced its position in shares of Chevron Corporation (NYSE:CVX) by 10.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,620 shares of the oil and gas company’s stock after selling 4,563 shares during the period. NorthRock Partners LLC’s holdings in Chevron were worth $6,567,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System grew its holdings in Chevron by 19,425.5% during the 2nd quarter. California State Teachers Retirement System now owns 432,663,934 shares of the oil and gas company’s stock worth $71,718,374,000 after acquiring an additional 430,448,040 shares during the last quarter. BlackRock Inc. acquired a new position in Chevron in the 2nd quarter valued at approximately $25,663,729,000. Norges Bank acquired a new position in Chevron in the 4th quarter valued at approximately $3,727,586,000. Bank of New York Mellon Corp bought a new position in shares of Chevron during the second quarter valued at $2,378,114,000. Finally, State Street Corp raised its stake in shares of 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 acquiring an additional 12,789,399 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on CVX shares. Jefferies Financial Group reissued a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research note on Friday, July 10th. TD Cowen raised their target price on Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Bank of America lifted their target price on Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Dbs Bank upgraded Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen raised Chevron from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $211.35.

Insiders Place Their Bets

In other Chevron news, insider Andrew Walz sold 16,800 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider directly owned 14 shares of the company’s stock, valued at approximately $2,814.84. The trade was a 99.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the transaction, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. The trade was a 92.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,152,582 shares of company stock valued at $225,853,661 over the last 90 days. 0.56% of the stock is owned by company insiders.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Venezuela expansion adds production potential: Chevron plans to more than double the number of oil rigs it operates in Venezuela as part of a five-year growth plan. The company’s expanded joint ventures target production of approximately 600,000 barrels per day and include additional acreage in the Carabobo region. The initiative could provide meaningful production growth and leverage Venezuela’s large reserves. Chevron to double oil rigs in Venezuela as part of growth plan
• Positive Sentiment: Large investment signals confidence in long-term growth: Chevron is expected to invest more than $7 billion over five years to expand its Venezuelan operations. Management says strong cash flow and synergies from the Hess transaction give the company financial flexibility to pursue the expansion while continuing to support shareholders. Chevron doubles down on Venezuela with a $7 billion oil bet
• Positive Sentiment: Oil-market backdrop remains supportive: Reports of higher oil prices amid escalating Middle East tensions are supporting energy-sector sentiment and Chevron’s earnings outlook. Analysts have also argued that the company’s rally could continue, citing strong energy prices, earnings and operating fundamentals. Stock Market Today: Dow dives, oil pops
• Neutral Sentiment: Management commentary reinforces the strategy: At Barclays’ energy conference, Chevron executives discussed the Venezuela growth plan and broader operating priorities. Investors will look for additional detail on capital spending, production timing and returns. Chevron presents at Barclays energy conference
• Negative Sentiment: Valuation and geopolitical risks are rising: Chevron has surged more than 40% this year and is close to its 52-week high, leaving less room for disappointment. Venezuela’s political, sanctions and operational risks could delay or reduce the expected benefits of the expansion. Chevron stock is near a record high
• Neutral Sentiment: Dividend appeal remains intact but requires substantial capital: An investor starting from scratch would need more than $146,000 in Chevron shares to generate $5,000 in annual passive income at current dividend levels. This highlights the income potential but is unlikely to be a major near-term trading catalyst. How many shares of Chevron are needed for annual passive income

Chevron Trading Up 0.7%

NYSE:CVX opened at $210.09 on Wednesday. The firm’s fifty day moving average is $192.79 and its 200-day moving average is $190.20. 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 Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The firm has a market cap of $415.08 billion, a P/E ratio of 20.14, a P/E/G ratio of 0.61 and a beta of 0.50.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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. The company had revenue of $67.20 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company posted $1.77 earnings per share. Equities analysts expect that Chevron Corporation will post 16.51 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.78 dividend. 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 dividend payout ratio (DPR) is 68.26%.

Chevron Profile

Chevron Corporation is an integrated energy company engaged in the exploration, production, transportation and sale of crude oil and natural gas. The company also manufactures and markets transportation fuels, lubricants, petrochemicals and additives through operations and brands that include Chevron, Texaco and Caltex.

Chevron’s upstream activities include oil and natural gas exploration and production, while its downstream business includes refining, fuel marketing, transportation and related energy services.