National Pension Service Has $750.21 Million Holdings in Chevron Corporation $CVX

National Pension Service grew its holdings in Chevron Corporation (NYSE:CVX) by 1.0% during the 2nd quarter, Holdings Channel reports. The firm owned 4,525,852 shares of the oil and gas company’s stock after purchasing an additional 46,519 shares during the period. National Pension Service’s holdings in Chevron were worth $750,205,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. California State Teachers Retirement System grew its holdings in Chevron by 19,425.5% during the 2nd quarter. California State Teachers Retirement System now owns 432,663,934 shares of the oil and gas company’s stock worth $71,718,374,000 after acquiring an additional 430,448,040 shares during the period. BlackRock Inc. bought a new position in shares of Chevron in the 2nd quarter worth $25,663,729,000. Norges Bank bought a new stake in Chevron in the fourth quarter valued at about $3,727,586,000. Bank of New York Mellon Corp acquired a new position in Chevron in the second quarter valued at about $2,378,114,000. Finally, State Street Corp grew its position in shares of Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after buying an additional 12,789,399 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity

In other Chevron news, Director John Hess sold 710,665 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the sale, the director directly owned 363,711 shares of the company’s stock, valued at approximately $70,596,305.10. This represents a 66.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Wirth sold 317,100 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the transaction, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,152,582 shares of company stock valued at $225,853,661 over the last three months. Corporate insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of a number of analyst reports. Jefferies Financial Group restated a “buy” rating and set a $216.00 price objective on shares of Chevron in a report on Friday, July 10th. Sanford C. Bernstein raised their price objective on 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 Chevron to a “moderate buy” rating in a report on Thursday, August 6th. Weiss Ratings raised Chevron from a “hold (c)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company boosted their price objective on Chevron from $226.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, September 3rd. Twenty analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.35.

Key Headlines Impacting 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%+

Chevron Stock Up 1.9%

Chevron stock opened at $213.69 on Thursday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $215.28. The company has a fifty day simple moving average of $193.75 and a 200 day simple moving average of $190.40. The company has a market cap of $422.20 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 0.62 and a beta of 0.50.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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. The company had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company’s quarterly revenue was up 57.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.77 EPS. Research analysts anticipate that Chevron Corporation will post 16.51 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. Stockholders 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 of this dividend is Wednesday, August 19th. Chevron’s dividend payout ratio is presently 68.26%.

Chevron 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.