NEOS Investment Management LLC Increases Stake in Chevron Corporation $CVX

NEOS Investment Management LLC grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 11.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 305,289 shares of the oil and gas company’s stock after buying an additional 32,477 shares during the period. NEOS Investment Management LLC’s holdings in Chevron were worth $50,605,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. United Bank increased its holdings in shares of Chevron by 7.7% in the second quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after purchasing an additional 796 shares during the last quarter. Schnieders Capital Management LLC. boosted its stake in Chevron by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after buying an additional 4,214 shares during the last quarter. BNP Paribas boosted its stake in Chevron by 76.4% during the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after buying an additional 191 shares during the last quarter. Osterweis Capital Management Inc. boosted its stake in Chevron by 678.9% during 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 grew its holdings in Chevron by 3.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock valued at $2,299,000 after buying an additional 553 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

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

Chevron Price Performance

CVX stock opened at $211.45 on Friday. The business has a fifty day moving average of $190.35 and a two-hundred day moving average of $189.64. 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 $417.78 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 0.63 and a beta of 0.50. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71.

Chevron (NYSE:CVX) last posted its 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. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. During the same quarter in the previous year, the business earned $1.77 earnings per share. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. As a group, research analysts anticipate that Chevron Corporation will post 16.24 earnings per share for the current year.

Chevron Announces Dividend

The business 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 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, August 19th. Chevron’s payout ratio is 68.26%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Venezuela expansion offers significant production growth. Chevron plans to invest more than $7 billion over five years, add acreage in Venezuela’s Orinoco Belt and increase joint-venture production from roughly 280,000 barrels per day toward 600,000 barrels per day. Updated fiscal, commercial and legal terms could improve project economics, with reported production costs below $20 per barrel. Chevron expands Venezuela position, to invest $7 billion in next five years
• Positive Sentiment: Oil-price momentum is supporting energy shares. Crude prices above $90 per barrel, strong second-quarter earnings and a 20% increase in worldwide production have boosted sentiment toward Chevron and the broader energy sector. Analysts and dividend-focused coverage also highlight Chevron’s long record of annual dividend increases. Chevron Stock Opinions on Rising Oil Prices
• Neutral Sentiment: Ghana provides another long-term option, but no immediate earnings impact. Chevron and Shell signed a nonbinding preliminary agreement covering potential production rights in Ghana’s South Deepwater Tano Cape Three Points block. Ownership, capital requirements and commercial terms remain undisclosed, so investors have limited visibility into the opportunity. Chevron, Shell sign preliminary agreement with Ghana
• Negative Sentiment: Investors remain concerned about Venezuela’s risks and the scale of spending. The production target depends on infrastructure, financing, sanctions and political stability, while critics question whether Venezuela can deliver the promised growth. Chevron’s shares also trade at elevated levels following the rally, and reported insider activity shows selling rather than purchases, potentially limiting near-term upside.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $216.00 target price on shares of Chevron in a research note on Friday, July 10th. Wells Fargo & Company boosted their price target on shares of Chevron from $226.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday. Dbs Bank raised shares of Chevron to a “moderate buy” rating in a report on Thursday, August 6th. Zacks Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research note on Thursday, July 2nd. Twenty equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $211.35.

About Chevron

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.