Aware Super Pty Ltd as trustee of Aware Super Invests $44.42 Million in Chevron Corporation $CVX

Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in Chevron Corporation (NYSE:CVX) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 214,687 shares of the oil and gas company’s stock, valued at approximately $44,419,000. Chevron comprises about 0.7% of Aware Super Pty Ltd as trustee of Aware Super’s investment portfolio, making the stock its 26th biggest position.

Several other large investors also recently modified their holdings of CVX. United Bank grew its stake in shares of Chevron by 7.7% in the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after buying an additional 796 shares during the period. Schnieders Capital Management LLC. raised its stake in Chevron by 9.0% during 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 period. BNP Paribas raised its stake in Chevron by 76.4% during 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 period. Osterweis Capital Management Inc. boosted its holdings in Chevron by 678.9% in the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock worth $195,000 after acquiring an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC boosted its holdings in Chevron by 3.6% in the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after acquiring an additional 553 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research reports. Zacks Research cut Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Weiss Ratings lowered Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Mizuho increased their target price on Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Scotiabank lifted their price target on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $220.00 price target on shares of Chevron in a research note on Tuesday, May 5th. Nineteen 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $206.83.

Chevron Stock Up 1.1%

Chevron stock opened at $183.69 on Friday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The firm’s 50-day simple moving average is $181.42 and its 200 day simple moving average is $182.41. The stock has a market cap of $365.83 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 0.64 and a beta of 0.50.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same quarter last year, the business posted $2.18 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts predict that Chevron Corporation will post 14.75 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. Chevron’s dividend payout ratio is currently 123.40%.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign memorandums of understanding with Iraq to advance investment in the West Qurna 2 and Nassiriya oilfields, potentially expanding its long-term production base. Reuters article
• Positive Sentiment: The company is also exploring a pipeline alternative to the Strait of Hormuz, which could reduce export risk and support more reliable Iraqi oil shipments if geopolitical risk stays elevated. WSJ article
• Positive Sentiment: Chevron’s stock has also been helped by broader energy-sector strength, with energy shares rising even as the wider market softened. Yahoo Finance article
• Neutral Sentiment: Analysts and commentary suggest Chevron may be fairly valued after a strong five-year run, which supports the stock but also limits the upside from valuation alone. Yahoo Finance article
• Neutral Sentiment: Recent broker notes have been mixed, including hold ratings and modest price-target cuts, indicating Wall Street is constructive but not aggressively bullish. Yahoo Finance article

Insider Activity at Chevron

In related news, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.56% of the company’s stock.

Chevron Company 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.