Core Capital Management & Research inc. Invests $2.54 Million in Chevron Corporation $CVX

Core Capital Management & Research inc. bought a new stake in shares of Chevron Corporation (NYSE:CVX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,327 shares of the oil and gas company’s stock, valued at approximately $2,541,000. Chevron makes up approximately 1.3% of Core Capital Management & Research inc.’s holdings, making the stock its 29th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. United Bank boosted its holdings in shares of Chevron by 7.7% in the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after purchasing an additional 796 shares during the period. Schnieders Capital Management LLC. raised its holdings in Chevron by 9.0% during the 2nd 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 during the period. BNP Paribas raised its holdings in Chevron by 76.4% during the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after buying an additional 191 shares during the period. Osterweis Capital Management Inc. lifted its position in 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 lifted its position in Chevron by 3.6% in the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after buying an additional 553 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Brent crude rose above $100 per barrel and WTI topped $95 amid escalating Middle East tensions. Higher oil prices can support Chevron’s upstream revenue, earnings and cash flow. Comparing Energy ETFs: Positioning Portfolios as Oil Hits $100
• Positive Sentiment: Chevron plans to double its Venezuelan oil rigs as part of a five-year, roughly $7 billion investment program, targeting production of up to 600,000 barrels per day by 2031. The expansion offers significant long-term volume growth if political, regulatory and operating conditions cooperate. Chevron to double oil rigs in Venezuela as part of growth plan
• Positive Sentiment: Chief Financial Officer Eimear Bonner emphasized Chevron’s scale, cost-efficiency efforts in U.S. shale and global expansion. Investors may view these initiatives, along with Hess-related synergies and strong free cash flow, as evidence of greater financial flexibility. Chevron CFO Says Oil Giant Is Bigger, Better and Stronger Than We’ve Ever Been
• Positive Sentiment: Chevron remains attractive to income-oriented investors because of its scale, balance-sheet strength and shareholder returns, particularly while energy prices are elevated. Oil Prices Are Climbing, Yet These 3 Energy Stocks Yield 3%+

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 317,100 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R. Pate sold 2,470 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total transaction of $506,621.70. Following the transaction, the insider owned 10,794 shares in the company, valued at approximately $2,213,957.34. The trade was a 18.62% 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 over the last 90 days. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $216.00 price objective on shares of Chevron in a research report on Friday, July 10th. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a report on Thursday, July 2nd. TD Cowen lifted their price target on shares of Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Zacks Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Finally, UBS Group reissued a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. Twenty analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $211.35.

Chevron Trading Up 1.9%

Shares of CVX opened at $213.69 on Thursday. The firm has a market capitalization of $422.20 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 0.62 and a beta of 0.50. 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 1-year low of $146.49 and a 1-year high of $215.28. The company has a 50-day moving average of $193.75 and a 200 day moving average of $190.40.

Chevron (NYSE:CVX) last issued its earnings results 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 net margin of 9.57% and a return on equity of 11.09%. The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same period last year, the company posted $1.77 earnings per share. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. On average, research analysts expect that Chevron Corporation will post 16.51 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio is currently 68.26%.

Chevron Company 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.