BTG Pactual Asset Management US LLC Acquires 7,753 Shares of Chevron Corporation $CVX

BTG Pactual Asset Management US LLC lifted its stake in Chevron Corporation (NYSE:CVX) by 36.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,004 shares of the oil and gas company’s stock after acquiring an additional 7,753 shares during the period. BTG Pactual Asset Management US LLC’s holdings in Chevron were worth $4,808,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Midwest Capital Advisors LLC acquired a new position in shares of Chevron during the first quarter valued at about $25,000. Main Street Group LTD bought a new position in Chevron during the first quarter valued at about $28,000. Phillip James Consulting Co. bought a new position in Chevron during the fourth quarter valued at about $26,000. Kilter Group LLC acquired a new position in Chevron in the 2nd quarter valued at approximately $28,000. Finally, Core Wealth Advisors LLC acquired a new position in Chevron in the 4th quarter valued at approximately $26,000. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CVX shares. Weiss Ratings raised Chevron from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. TD Cowen upped their target price on Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Sanford C. Bernstein lifted their price target on shares of Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Dbs Bank upgraded shares of Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Finally, Morgan Stanley increased their price objective on shares of Chevron from $210.00 to $218.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Twenty investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $207.48.

Chevron Trading Up 0.1%

Shares of CVX opened at $202.04 on Monday. 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 stock has a market cap of $399.18 billion, a PE ratio of 19.37, a PEG ratio of 0.60 and a beta of 0.49. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $214.71. The stock has a 50 day simple moving average of $187.44 and a 200-day simple moving average of $188.90.

Chevron (NYSE:CVX) last announced its quarterly earnings results 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. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same quarter in the previous year, the firm earned $1.77 EPS. Chevron’s quarterly revenue was up 57.4% on a year-over-year basis. On average, sell-side analysts predict that Chevron Corporation will post 16.24 EPS 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 3.5%. The ex-dividend date is Wednesday, August 19th. Chevron’s payout ratio is currently 68.26%.

Insider Activity

In other news, insider R. Hewitt Pate sold 2,470 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the sale, the insider owned 10,794 shares of the company’s stock, valued at approximately $2,213,957.34. This represents a 18.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hess sold 100,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the sale, the director owned 178,045 shares of the company’s stock, valued at $34,587,021.70. This trade represents a 35.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,152,582 shares of company stock worth $225,853,661 over the last 90 days. 0.56% of the stock is currently owned by company insiders.

Chevron News Summary

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?

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.