OVERSEA CHINESE BANKING Corp Ltd Takes Position in Chevron Corporation $CVX

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Chevron Corporation (NYSE:CVX) during the second quarter, Holdings Channel reports. The fund acquired 4,687 shares of the oil and gas company’s stock, valued at approximately $795,000.

Several other hedge funds also recently added to or reduced their stakes in CVX. August Group Capital Ltd acquired a new stake in Chevron during the second quarter worth $233,000. E Fund Management Co. Ltd. purchased a new position in shares of Chevron during the 2nd quarter worth $3,341,000. Notis McConarty Edward purchased a new position in shares of Chevron during the 2nd quarter worth $2,065,000. Asahi Life Asset Management CO. LTD. purchased a new position in shares of Chevron during the 2nd quarter worth $1,449,000. Finally, Somerville Kurt F acquired a new stake in shares of Chevron during the 2nd quarter worth about $5,305,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

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 Trading Down 0.3%

NYSE CVX opened at $205.25 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The firm has a market cap of $405.53 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 0.62 and a beta of 0.49. The firm has a 50 day simple moving average of $185.03 and a 200-day simple moving average of $188.07. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71.

Chevron (NYSE:CVX) last announced its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion for 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 firm’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 EPS. Equities research analysts anticipate that Chevron Corporation will post 16.17 EPS for the current fiscal year.

Chevron Dividend Announcement

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 given a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.5%. Chevron’s dividend payout ratio is currently 68.26%.

Insider Buying and Selling

In related news, insider R. Hewitt Pate sold 2,470 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total transaction of $506,621.70. Following the completion of the transaction, the insider directly owned 10,794 shares of the company’s stock, valued at $2,213,957.34. The trade was a 18.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew Benjamin Walz sold 16,800 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the sale, the insider owned 14 shares in the company, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,152,582 shares of company stock valued at $225,853,661 in the last three months. 0.56% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on CVX shares. Bank of America upped their target price on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Zacks Research cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Sanford C. Bernstein boosted their target price on Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Barclays lowered their price target on Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. Twenty research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $207.48.

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.