GQG Partners LLC Makes New $716.39 Million Investment in Chevron Corporation $CVX

GQG Partners LLC bought a new stake in Chevron Corporation (NYSE:CVX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,321,814 shares of the oil and gas company’s stock, valued at approximately $716,387,000. Chevron comprises 1.3% of GQG Partners LLC’s investment portfolio, making the stock its 23rd biggest position. GQG Partners LLC owned about 0.22% of Chevron as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Chevron during the 2nd quarter worth approximately $161,330,000. Academy Capital Management acquired a new position in Chevron in the second quarter valued at approximately $289,000. CFO4Life Group LLC purchased a new position in Chevron in the second quarter worth approximately $706,000. Quantbot Technologies LP purchased a new position in Chevron in the second quarter worth approximately $16,472,000. Finally, Evolve Private Wealth LLC acquired a new stake in Chevron during the second quarter worth $1,764,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In related news, CEO Michael K. Wirth sold 317,100 shares of the 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 transaction, the chief executive officer 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 filing with the SEC, which is available through this hyperlink. Also, insider R. Hewitt Pate sold 2,470 shares of Chevron stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total value of $506,621.70. Following the sale, the insider directly owned 10,794 shares of the company’s stock, valued at $2,213,957.34. This trade represents a 18.62% decrease in their ownership of the stock. 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 company insiders.

Wall Street Analyst Weigh In

Several 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 target on the stock in a research note on Thursday, July 2nd. Mizuho set a $224.00 price objective on shares of Chevron in a report on Monday, August 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $216.00 target price on shares of Chevron in a research report on Friday, July 10th. Weiss Ratings raised shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. Twenty equities 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 MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $207.48.

Chevron Stock Performance

NYSE:CVX opened at $205.25 on Friday. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The company has a fifty day simple moving average of $185.03 and a two-hundred day simple moving average of $188.07. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The company has a market cap of $405.53 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 0.61 and a beta of 0.49.

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, beating 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 firm had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same period last year, the business posted $1.77 earnings per share. Chevron’s revenue was up 57.4% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Chevron News Roundup

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.