Chevron (NYSE:CVX) Insider Sells $9,224,655.00 in Stock

Chevron Corporation (NYSE:CVX) insider R. Pate sold 40,700 shares of the firm’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the completion of the transaction, the insider owned 8,791 shares in the company, valued at approximately $1,992,480.15. The trade was a 82.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

R. Hewitt Pate also recently made the following trade(s):

• On Monday, October 19th, R. Pate sold 2,400 shares of Chevron stock. The shares were sold at an average price of $225.61, for a total value of $541,464.00.
• On Tuesday, August 18th, R. Pate sold 2,470 shares of Chevron stock. The stock was sold at an average price of $205.11, for a total value of $506,621.70.

Chevron Stock Performance

CVX traded up $1.10 during trading on Wednesday, reaching $226.81. 7,913,343 shares of the company were exchanged, compared to its average volume of 10,395,028. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $228.48. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average of $208.76 and a 200 day moving average of $193.71. The stock has a market cap of $448.13 billion, a P/E ratio of 21.75, a PEG ratio of 0.61 and a beta of 0.53.

Chevron (NYSE:CVX) last posted its 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 company had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. During the same period last year, the business posted $1.77 earnings per share. The firm’s quarterly revenue was up 57.4% compared to the same quarter last year. On average, sell-side analysts forecast that Chevron Corporation will post 17.71 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a $1.78 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.1%. Chevron’s dividend payout ratio (DPR) is currently 68.26%.

Institutional Trading of Chevron

Several institutional investors have recently modified their holdings of the company. Arvest Investments Inc. boosted its position in Chevron by 44.0% in the third quarter. Arvest Investments Inc. now owns 10,629 shares of the oil and gas company’s stock valued at $2,171,000 after buying an additional 3,248 shares in the last quarter. Centennial Advisors LLC acquired a new position in shares of Chevron during the third quarter worth $213,000. Sawyer & Company Inc acquired a new position in shares of Chevron during the third quarter worth $2,509,000. City State Bank increased its holdings in shares of Chevron by 2.7% during the third quarter. City State Bank now owns 6,512 shares of the oil and gas company’s stock worth $1,330,000 after buying an additional 172 shares in the last quarter. Finally, Atticus Wealth Management LLC lifted its stake in shares of Chevron by 44.5% in the 3rd quarter. Atticus Wealth Management LLC now owns 6,936 shares of the oil and gas company’s stock valued at $1,416,000 after acquiring an additional 2,137 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of a number of recent analyst reports. Weiss Ratings raised Chevron from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday. Wells Fargo & Company boosted their price objective on Chevron from $226.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Argus increased their price objective on Chevron from $206.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Raymond James Financial lowered their target price on Chevron from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 21st. Finally, Morgan Stanley lifted their target price on Chevron from $218.00 to $226.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $213.96.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices support earnings expectations: Brent crude reached a five-month high above $110 as Iran-related geopolitical risks raised concerns about supply disruptions. Because Chevron’s profitability is closely tied to oil prices, the move has helped push the stock toward a 52-week high. Chevron and ExxonMobil Stocks Hit 52-Week Highs
• Positive Sentiment: Venezuela could become a significant growth opportunity: Chevron is reportedly investing billions to expand Venezuelan output, with production potentially reaching 600,000 barrels per day—more than double current levels. Low production costs could create substantial long-term revenue and profit potential if operations and political conditions remain favorable. Chevron Is Pouring Billions Into Venezuela
• Positive Sentiment: Portfolio changes may improve capital efficiency: Chevron’s asset-sale and operating changes are being viewed as efforts to focus the portfolio, reduce costs and strengthen cash flow. Strategic Asset Sales Help Energy Companies Refocus Operations
• Positive Sentiment: Institutional buying and analyst optimism add support: Citadel substantially increased its Chevron stake in the second quarter, while a recent Goldman Sachs call was described as bullish. These developments may reinforce confidence ahead of earnings. Chevron Stock Nears a 52-Week High
• Neutral Sentiment: Strategic transactions carry mixed implications: Chevron’s Bakken changes and a reported effort to take control of a major Iraqi oil field could expand or improve its asset base, but execution, geopolitical and regulatory risks remain. Chevron Moves to Take Over Iraq Oil Field
• Negative Sentiment: Venezuela and Middle East exposure increase risk: Political instability, sanctions, infrastructure constraints and potential supply normalization could limit the benefits of Chevron’s international growth plans and make elevated oil prices difficult to sustain.
• Negative Sentiment: Chevron-related changes pressured Hess Midstream: A Chevron transaction contributed to a steep decline in Hess Midstream units, highlighting possible uncertainty for counterparties and investors as Chevron integrates or restructures assets. Hess Midstream Is Down Nearly 23% in a Month

Chevron Company Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.