PCM Encore LLC Makes New Investment in Chevron Corporation $CVX

PCM Encore LLC purchased a new position in shares of Chevron Corporation (NYSE:CVX) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 15,066 shares of the oil and gas company’s stock, valued at approximately $2,497,000.

A number of other hedge funds have also recently modified their holdings of the business. Midwest Capital Advisors LLC bought a new position in Chevron in the 1st quarter worth $25,000. Main Street Group LTD purchased a new position in Chevron during the first quarter valued at $28,000. Phillip James Consulting Co. bought a new stake in Chevron during the fourth quarter valued at about $26,000. Core Wealth Advisors LLC purchased a new stake in Chevron in the fourth quarter worth about $26,000. Finally, Karpus Management Inc. purchased a new stake in Chevron in the fourth quarter worth about $27,000. 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: Chevron confirmed a sizable oil and gas condensate discovery at the 105-4X well in offshore Angola’s Block 0. The more than 600-meter hydrocarbon column and over 90 meters of net pay could support future production, while a tie-back to existing facilities may reduce development costs. Chevron Angola discovery analysis
• Positive Sentiment: Equinor’s agreement to acquire a 17.4% interest in Chevron-operated offshore Namibia exploration acreage allows CVX to share exploration costs while retaining operatorship, reducing financial exposure ahead of planned 2026 drilling. Equinor enters Namibia with stake in Chevron-operated block
• Positive Sentiment: Options traders purchased unusually large volumes of CVX call options, indicating stronger bullish positioning and potentially adding momentum to the rally.
• Positive Sentiment: Chevron’s shareholder-return profile remains supportive: the company recently declared a $1.78 quarterly dividend, equivalent to $7.12 annually and an approximately 3.5% yield. Its latest quarterly results also exceeded expectations, with adjusted EPS of $6.06 versus $5.55 expected and revenue of $67.2 billion versus $62.72 billion forecast.
• Neutral Sentiment: Analyst sentiment is broadly favorable. Morgan Stanley raised its target to $218 and maintained an overweight rating, while the broader analyst consensus remains “Moderate Buy.” However, the stock’s continued performance is highly sensitive to crude prices and Middle East developments.
• Negative Sentiment: Several insiders sold shares, including CEO Michael Wirth’s sale of 317,100 shares worth about $63.6 million and Andrew Benjamin Walz’s sale of 16,800 shares. These transactions may weigh on sentiment, although they can reflect personal financial planning rather than concerns about Chevron’s fundamentals. Chevron CEO SEC filing

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 100,000 shares of Chevron stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total value of $19,426,000.00. Following the sale, the director directly owned 178,045 shares in the company, valued at approximately $34,587,021.70. The trade was a 35.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew Benjamin Walz sold 16,800 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were 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 approximately $2,814.84. The trade was a 99.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,152,582 shares of company stock worth $225,853,661. 0.56% of the stock is currently owned by corporate insiders.

Chevron Price Performance

Shares of Chevron stock opened at $205.85 on Friday. The stock’s 50-day simple moving average is $184.67 and its 200-day simple moving average is $187.95. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The company has a market capitalization of $406.71 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 0.63 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last released its 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. The firm had revenue of $67.20 billion during the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The firm’s revenue was up 57.4% on a year-over-year basis. During the same quarter last year, the business posted $1.77 earnings per share. As a group, analysts expect that Chevron Corporation will post 15.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is 68.26%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. Jefferies Financial Group reissued a “buy” rating and issued a $216.00 target price on shares of Chevron in a report on Friday, July 10th. UBS Group restated a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. Weiss Ratings raised shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Morgan Stanley upped their price target on shares of Chevron from $210.00 to $218.00 and gave the stock an “overweight” rating in a research report on Wednesday. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.48.

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.