Montchanin Asset Management LLC Makes New Investment in Chevron Corporation $CVX

Montchanin Asset Management LLC acquired a new stake in Chevron Corporation (NYSE:CVX) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 9,074 shares of the oil and gas company’s stock, valued at approximately $1,877,000. Chevron makes up about 1.9% of Montchanin Asset Management LLC’s portfolio, making the stock its 15th largest holding.

A number of other institutional investors have also recently modified their holdings of the stock. Midwest Capital Advisors LLC bought a new position in shares of Chevron in the first quarter worth $25,000. Core Wealth Advisors LLC bought a new stake in Chevron during the fourth quarter worth about $26,000. Phillip James Consulting Co. bought a new stake in Chevron during the fourth quarter worth about $26,000. Basso Capital Management L.P. acquired a new stake in Chevron during the fourth quarter worth about $27,000. Finally, Karpus Management Inc. acquired a new stake in Chevron during the fourth quarter worth about $27,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

NYSE:CVX opened at $197.10 on Friday. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock’s 50-day simple moving average is $181.95 and its 200 day simple moving average is $184.96. The firm has a market capitalization of $392.55 billion, a PE ratio of 34.16, a price-to-earnings-growth ratio of 0.60 and a beta of 0.50.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business’s quarterly revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.77 earnings per share. On average, analysts anticipate that Chevron Corporation will post 15.64 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.6%. Chevron’s payout ratio is 123.40%.

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. UBS Group reaffirmed a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Piper Sandler started coverage on shares of Chevron in a research report on Thursday, July 23rd. They set an “overweight” rating and a $207.00 price target on the stock. Morgan Stanley decreased their price objective on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Finally, Sanford C. Bernstein lowered their price objective on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.17.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Strong earnings beat: Chevron reported adjusted earnings of $12.0 billion, or $6.06 per diluted share, versus analysts’ expectation of $5.55. Reported earnings reached $12.1 billion, the company’s highest quarterly profit in at least six years, while revenue rose 57.4% year over year to $67.2 billion. Chevron records highest quarterly profit in six years, tops estimates
• Positive Sentiment: Higher production and refining performance: Global oil-equivalent production increased 20% to 4.07 million barrels per day, supported by Hess-related assets, the Permian Basin and the Gulf of America. Record U.S. production, strong refining margins and near-full-capacity operations boosted results. CVX Q2 Earnings Beat on Higher Output and Strong Refining Margins
• Positive Sentiment: Excellent cash generation and growth opportunities: Operating cash flow was $22.6 billion, and Chevron maintained its $1.78 quarterly dividend. Management also highlighted expansion plans involving Iraq, Venezuela, Argentina and a 20-year power agreement to supply a Microsoft data center. Chevron CFO on second-quarter earnings, growth plan and Iraq accord
• Neutral Sentiment: Energy-sector tailwind: Rising crude, gasoline and diesel prices, driven by Middle East supply disruptions, lifted Chevron and other integrated oil companies and supported broader energy ETFs. Supermajor Earnings: Exxon and Chevron’s Impact on ETF Market
• Negative Sentiment: Geopolitical and valuation risks remain: Chevron said the conflict reduced output in the Saudi Arabia–Kuwait Partitioned Zone. Executives also warned of escalating supply risks, while potential gasoline-price interventions or windfall taxes could pressure future profits. Analysts noted that some of the earnings improvement may already be reflected in the stock price. Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector

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.