Chevron Corporation $CVX Stake Lifted by Ibex Wealth Advisors

Ibex Wealth Advisors boosted its holdings in Chevron Corporation (NYSE:CVX) by 4.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,117 shares of the oil and gas company’s stock after purchasing an additional 2,519 shares during the period. Ibex Wealth Advisors’ holdings in Chevron were worth $12,276,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVX. Main Street Group LTD acquired a new position in shares of Chevron in the 1st quarter valued at approximately $28,000. Kilter Group LLC acquired a new stake in shares of Chevron during the second quarter worth approximately $28,000. Principia Wealth Advisory LLC grew its position in shares of Chevron by 49.6% during the second quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock worth $30,000 after buying an additional 60 shares in the last quarter. Strategic Wealth Advisors LLC bought a new stake in shares of Chevron in the second quarter worth $33,000. Finally, Burk Holdings LLC bought a new stake in shares of Chevron in the second quarter worth $42,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other Chevron news, insider R. Pate sold 40,700 shares of Chevron stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total value of $9,224,655.00. Following the completion of the transaction, the insider directly owned 8,791 shares in the company, valued at $1,992,480.15. The trade was a 82.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Thomas Booth sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $212.14, for a total value of $1,272,840.00. Following the transaction, the chief technology officer directly owned 6,000 shares of the company’s stock, valued at $1,272,840. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 180,370 shares of company stock worth $38,497,149 in the last ninety days. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Sanford C. Bernstein reduced their price objective on shares of Chevron from $248.00 to $233.00 and set a “market perform” rating on the stock in a research note on Thursday. Weiss Ratings lowered shares of Chevron from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, November 2nd. Bank of America boosted their target price on shares of Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. UBS Group upped their target price on shares of Chevron from $235.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, November 2nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $241.00 price target on shares of Chevron in a research report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $222.96.

Chevron Stock Performance

Shares of CVX stock traded up $3.21 on Friday, hitting $219.56. 7,573,015 shares of the stock traded hands, compared to its average volume of 8,354,031. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.07. The company has a market capitalization of $431.52 billion, a PE ratio of 16.06, a PEG ratio of 0.50 and a beta of 0.47. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $236.48. The company’s fifty day moving average is $215.49 and its 200 day moving average is $195.58.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.87 by $0.41. Chevron had a net margin of 11.56% and a return on equity of 14.49%. The firm had revenue of $65.24 billion during the quarter, compared to analyst estimates of $61.82 billion. During the same quarter in the previous year, the firm earned $1.85 earnings per share. The firm’s revenue for the quarter was up 36.3% compared to the same quarter last year. On average, equities research analysts predict that Chevron Corporation will post 18.64 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be paid a dividend of $1.78 per share. The ex-dividend date is Wednesday, November 18th. This represents a $7.12 annualized dividend and a yield of 3.2%. Chevron’s dividend payout ratio is 52.08%.

Key Headlines Impacting Chevron

Here are a few of the latest headlines about CVX:

• Positive Sentiment: Recent quarterly results showed the strength of Chevron’s integrated business: adjusted profit nearly tripled to $10.4 billion, with refining earnings rising 333% and refinery utilization at 98%. The strength came despite production declining 2.6%. Article: Chevron’s Production Fell. Its Profit Nearly Tripled.
• Positive Sentiment: Chevron declared a quarterly dividend of $1.78 per share, equivalent to $7.12 annually and a 3.3% yield, which may appeal to income-focused investors.
• Negative Sentiment: Vice Chairman Mark Nelson sold 112,000 shares, reducing his direct holdings by about 90.6%; CTO Thomas Booth also sold 6,000 shares, cutting his position by half. Insider sales can weigh on sentiment, though the filings do not explain the sellers’ reasons. SEC filing for Mark Nelson’s sale SEC filing for Thomas Booth’s sale

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.