Sawyer & Company Inc Makes New Investment in Chevron Corporation $CVX

Sawyer & Company Inc purchased a new stake in Chevron Corporation (NYSE:CVX) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 12,286 shares of the oil and gas company’s stock, valued at approximately $2,509,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Chevron during the second quarter valued at $25,663,729,000. Bank of New York Mellon Corp purchased a new stake in shares of Chevron during the second quarter worth about $2,378,114,000. Legal & General Group Plc purchased a new stake in shares of Chevron during the second quarter worth about $1,462,412,000. Deutsche Bank AG purchased a new stake in shares of Chevron during the second quarter worth about $1,189,577,000. Finally, State Street Corp raised its position in shares of Chevron by 3.9% during the 2nd quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock worth $28,016,651,000 after purchasing an additional 5,998,852 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is considering a sale of approximately $1 billion in mature U.S. Gulf of Mexico oil and gas assets. Divesting older properties could streamline operations, unlock cash and redirect capital toward newer offshore projects and long-term production growth. Chevron Eyes $1B Gulf Asset Sale to Focus on Growth Projects
• Positive Sentiment: Bank of America raised its Chevron price target to $252 from $227, adding support to investor confidence in the company’s earnings and cash-flow potential. Chevron price target raised at BofA
• Positive Sentiment: Analysts highlight CVX as a potential beneficiary of the oil rally, citing production growth, disciplined capital spending, diversified operations and a dividend supported by recurring cash flow. Oil Prices Climb: Energy Stocks Poised to Benefit
• Neutral Sentiment: Chevron’s leadership changes, including a new chief financial officer, and upcoming production and earnings updates give investors additional information to assess execution and whether higher commodity prices are translating into stronger results. Chevron’s new CFO among four executive changes
• Negative Sentiment: Director R. Pate sold 43,100 shares worth roughly $9.8 million. The transactions were made under a pre-arranged Rule 10b5-1 plan, reducing their value as a bearish signal, but the substantial reduction in ownership may weigh modestly on sentiment. Chevron insider trading filing

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CVX. Dbs Bank upgraded Chevron to a “moderate buy” rating in a report on Thursday, August 6th. BNP Paribas Exane cut their price objective on Chevron from $230.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a report on Thursday, July 2nd. TD Cowen increased their target price on Chevron from $215.00 to $225.00 and gave the company a “hold” rating in a report on Monday, October 12th. Finally, Royal Bank Of Canada raised their target price on Chevron from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $213.96.

Chevron Price Performance

Shares of NYSE CVX opened at $226.65 on Friday. The firm has a 50-day simple moving average of $209.95 and a 200-day simple moving average of $194.11. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $447.80 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 0.54 and a beta of 0.53. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $229.04.

Chevron (NYSE:CVX) last posted its quarterly 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 company’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same period last year, the firm posted $1.77 earnings per share. On average, equities analysts predict that Chevron Corporation will post 18.12 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were issued a $1.78 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.1%. Chevron’s dividend payout ratio is presently 68.26%.

Insider Buying and Selling at Chevron

In other news, insider Andrew Walz sold 16,800 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 14 shares in the company, valued at $2,814.84. This represents a 99.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hess sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the sale, the director owned 178,045 shares of the company’s stock, valued at $34,587,021.70. This trade represents a 35.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,195,682 shares of company stock worth $235,619,780 in the last quarter. Insiders own 0.56% of the company’s stock.

Chevron 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.