Quantbot Technologies LP Makes New $16.47 Million Investment in Chevron Corporation $CVX

Quantbot Technologies LP purchased a new position in shares of Chevron Corporation (NYSE:CVX) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 99,373 shares of the oil and gas company’s stock, valued at approximately $16,472,000. Chevron comprises 0.6% of Quantbot Technologies LP’s investment portfolio, making the stock its 6th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. United Bank increased its position in Chevron by 7.7% during the second quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after buying an additional 796 shares during the last quarter. Schnieders Capital Management LLC. raised its holdings in Chevron by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock valued at $7,280,000 after buying an additional 4,214 shares in the last quarter. BNP Paribas lifted its position in shares of Chevron by 76.4% in the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after buying an additional 191 shares during the last quarter. Osterweis Capital Management Inc. lifted its position in shares of Chevron by 678.9% in the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock worth $195,000 after buying an additional 1,188 shares during the last quarter. Finally, Main Street Financial Solutions LLC boosted its stake in shares of Chevron by 3.6% during the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after acquiring an additional 553 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 317,100 shares of the company’s stock in a transaction 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 sale, the chief executive officer directly owned 26,308 shares in the company, valued at $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Andrew Benjamin Walz sold 16,800 shares of the stock in a transaction 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 owned 14 shares of the company’s stock, valued at $2,814.84. This represents a 99.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,152,582 shares of company stock valued at $225,853,661 in the last 90 days. Insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CVX. Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Thursday, July 2nd. Royal Bank Of Canada restated an “outperform” rating and issued a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. Bank of America upped their target price on Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded Chevron from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Piper Sandler initiated coverage on shares of Chevron in a research report on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 price target on the stock. Twenty 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. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $207.48.

Key Headlines 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 Price Performance

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. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The company has a fifty day moving average price of $185.03 and a 200 day moving average price of $188.07. The stock has a market cap of $405.53 billion, a P/E ratio of 19.68, a PEG ratio of 0.61 and a beta of 0.49.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $62.72 billion. During the same period last year, the business posted $1.77 EPS. The business’s quarterly revenue 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 year.

Chevron Dividend Announcement

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

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.