Connor Clark & Lunn Investment Management Ltd. Makes New $239.71 Million Investment in Chevron Corporation $CVX

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Chevron Corporation (NYSE:CVX) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,446,112 shares of the oil and gas company’s stock, valued at approximately $239,708,000. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of Chevron at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cornerstone Advisory LLC lifted its stake in Chevron by 0.9% during the first quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock worth $1,164,000 after purchasing an additional 52 shares during the last quarter. Compton Financial Group LLC increased its stake in shares of Chevron by 1.9% in the 1st quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock valued at $609,000 after purchasing an additional 56 shares during the last quarter. Quantum Portfolio Management LLC raised its holdings in shares of Chevron by 2.7% during the 1st quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock worth $435,000 after buying an additional 56 shares in the last quarter. Wealthspire Retirement LLC raised its holdings in shares of Chevron by 0.9% during the 1st quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company’s stock worth $1,351,000 after buying an additional 56 shares in the last quarter. Finally, D.B. Root & Company LLC lifted its position in shares of Chevron by 1.0% during the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock worth $846,000 after buying an additional 57 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. UBS Group reiterated a “buy” rating on shares of Chevron in a research report 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. Dbs Bank upgraded shares of Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Barclays decreased their price target on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating on the stock in a report on Monday, August 17th. Finally, 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. 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $207.48.

Chevron Price Performance

Shares of CVX opened at $205.25 on Monday. 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 stock has a market cap of $405.53 billion, a PE ratio of 19.68, a PEG ratio of 0.61 and a beta of 0.49. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The business has a 50-day simple moving average of $185.03 and a two-hundred day simple moving average of $188.17.

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 analysts’ consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same period last year, the firm posted $1.77 earnings per share. Analysts anticipate that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Insider Buying and Selling at Chevron

In other Chevron news, insider Andrew Benjamin Walz sold 16,800 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 14 shares in the company, valued at approximately $2,814.84. This represents a 99.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael K. Wirth sold 317,100 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the transaction, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at $5,273,701.68. The trade was a 92.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,152,582 shares of company stock valued at $225,853,661 in the last quarter. 0.56% of the stock is currently owned by corporate insiders.

More Chevron News

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.