Heartland Bank & Trust Co Makes New $1.30 Million Investment in Chevron Corporation $CVX

Heartland Bank & Trust Co bought a new stake in Chevron Corporation (NYSE:CVX) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,842 shares of the oil and gas company’s stock, valued at approximately $1,300,000.

Other hedge funds have also modified their holdings of the company. Midwest Capital Advisors LLC purchased a new position in shares of Chevron during the first quarter worth $25,000. Main Street Group LTD acquired a new stake in shares of Chevron in the first quarter valued at $28,000. Phillip James Consulting Co. purchased a new stake in shares of Chevron in the 4th quarter valued at $26,000. Kilter Group LLC acquired a new position in Chevron during the 2nd quarter worth about $28,000. Finally, Core Wealth Advisors LLC acquired a new position in Chevron during the 4th quarter worth about $26,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Chevron news, Director John B. Hess sold 710,665 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the transaction, the director owned 363,711 shares in the company, valued at $70,596,305.10. The trade was a 66.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew Benjamin Walz sold 16,800 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the sale, the insider directly owned 14 shares in the company, valued at approximately $2,814.84. This represents a 99.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,152,582 shares of company stock worth $225,853,661 over the last three months. Insiders own 0.56% of the company’s stock.

Chevron Price Performance

CVX stock opened at $205.25 on Friday. The business’s 50-day moving average is $185.03 and its two-hundred day moving average is $188.07. 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 firm has a market capitalization 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 Corporation has a 1 year low of $146.49 and a 1 year high of $214.71.

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, 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 the consensus estimate of $62.72 billion. During the same period in the previous year, the company posted $1.77 earnings per share. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. Analysts anticipate that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on CVX shares. Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a research report on Thursday, July 2nd. Dbs Bank raised shares of Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Sanford C. Bernstein raised their price objective on shares of Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Barclays lowered their price objective on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $216.00 target price on shares of Chevron in a research note on Wednesday, May 6th. Twenty equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $207.48.

Key Stories Impacting Chevron

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 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.