Korea Investment CORP Makes New $187.82 Million Investment in Chevron Corporation $CVX

Korea Investment CORP acquired a new stake in shares of Chevron Corporation (NYSE:CVX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,133,083 shares of the oil and gas company’s stock, valued at approximately $187,820,000. Korea Investment CORP owned 0.06% of Chevron at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. United Bank grew its holdings in Chevron by 7.7% in the second quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after purchasing an additional 796 shares during the period. Schnieders Capital Management LLC. grew its stake in shares of Chevron by 9.0% in the 2nd 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 grew its stake in shares of Chevron by 76.4% in the 2nd 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. increased its position in Chevron by 678.9% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock valued at $195,000 after buying an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised its stake in Chevron by 3.6% during the second 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 during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CVX shares. Bank of America boosted their target price on Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Wall Street Zen raised Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Piper Sandler initiated coverage on shares of Chevron in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 price target on the stock. Jefferies Financial Group reissued a “buy” rating and set a $216.00 price objective on shares of Chevron in a research report on Friday, July 10th. Finally, Morgan Stanley raised their price objective on shares of Chevron from $210.00 to $218.00 and gave the company an “overweight” rating in a research note on Wednesday. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $207.48.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the completion of the sale, the director owned 178,045 shares in the company, valued at $34,587,021.70. This represents a 35.97% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,152,582 shares of company stock worth $225,853,661. 0.56% of the stock is owned by insiders.

Chevron Stock Performance

Shares of CVX opened at $205.25 on Friday. The company has a market cap of $405.53 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 0.62 and a beta of 0.49. The business’s fifty day simple moving average is $185.03 and its two-hundred day simple moving average is $188.07. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. 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 (NYSE:CVX) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $62.72 billion. During the same period in the prior year, the company posted $1.77 earnings per share. The company’s quarterly revenue was up 57.4% on a year-over-year basis. Research analysts anticipate that Chevron Corporation will post 16.17 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Key Stories Impacting Chevron

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

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.