16,590 Chevron Corporation $CVX Shares Purchased by Wedmont Private Capital

Wedmont Private Capital lifted its position in Chevron Corporation (NYSE:CVX) by 77.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 37,933 shares of the oil and gas company’s stock after purchasing an additional 16,590 shares during the period. Wedmont Private Capital’s holdings in Chevron were worth $8,570,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CVX. First PREMIER Bank grew its holdings in Chevron by 0.8% in the 2nd quarter. First PREMIER Bank now owns 6,450 shares of the oil and gas company’s stock worth $1,070,000 after acquiring an additional 50 shares during the last quarter. Vanguard Capital Wealth Advisors increased its position in shares of Chevron by 1.8% in the second quarter. Vanguard Capital Wealth Advisors now owns 2,818 shares of the oil and gas company’s stock valued at $467,000 after acquiring an additional 50 shares during the period. Nautilus Advisors LLC raised its stake in shares of Chevron by 2.8% during the third quarter. Nautilus Advisors LLC now owns 1,859 shares of the oil and gas company’s stock valued at $380,000 after acquiring an additional 50 shares during the last quarter. Cornerstone Advisory LLC boosted its holdings in shares of Chevron by 0.9% during the first quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock worth $1,164,000 after purchasing an additional 52 shares during the period. Finally, Chickasaw Capital Management LLC boosted its holdings in shares of Chevron by 0.8% during the third quarter. Chickasaw Capital Management LLC now owns 7,225 shares of the oil and gas company’s stock worth $1,475,000 after purchasing an additional 55 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 0.5%

Chevron stock traded up $0.99 during trading hours on Friday, hitting $212.54. 2,509,021 shares of the stock traded hands, compared to its average volume of 10,460,291. Chevron Corporation has a one year low of $146.49 and a one year high of $217.78. The firm’s 50-day moving average price is $204.21 and its two-hundred day moving average price is $192.94. 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 company has a market cap of $419.94 billion, a PE ratio of 20.36, a PEG ratio of 0.57 and a beta of 0.53.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, beating the consensus estimate of $5.55 by $0.51. The company had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The firm’s revenue was up 57.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.77 earnings per share. On average, research analysts forecast that Chevron Corporation will post 17.47 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were paid a dividend of $1.78 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.3%. Chevron’s payout ratio is presently 68.26%.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices are supporting the stock. Crude rose above $92.60 per barrel amid Middle East supply concerns, improving the outlook for Chevron’s upstream cash flow. UBS also raised its price target to $235. Why Is Chevron Stock Surging on Thursday?
• Positive Sentiment: Analyst support remains constructive. Piper Sandler maintained its Buy rating, while Zacks highlighted Chevron as its Bull of the Day. The positive views emphasize Chevron’s cash generation, shareholder returns and potential benefits from elevated energy prices. Piper Sandler Sticks to Their Buy Rating for Chevron
• Positive Sentiment: Chevron’s portfolio restructuring could improve long-term efficiency. The company is transferring its Hess Midstream ownership and DJ Basin assets in exchange for revised Bakken contract terms and approximately $200 million in cash. The transaction is intended to simplify the portfolio, reduce costs and address roughly $3 billion to $4 billion of value or balance-sheet pressure. Chevron Is Offloading Hess Midstream and Taking a $3 Billion to $4 Billion Hit
• Neutral Sentiment: Gulf storm disruptions have mixed implications. Chevron shut in four Gulf facilities as Tropical Storm Isaias approached, contributing to broader regional production cuts. Reduced supply may support crude prices, but the shutdowns could temporarily reduce Chevron’s output and raise operating costs. Big Oil Begins Shutting In Gulf of Mexico Production
• Negative Sentiment: The Hess Midstream transaction carries near-term financial costs. Reports indicate the deal will lower Hess Midstream’s earnings and may result in a substantial hit for Chevron, even though it provides longer-term contractual and cost benefits. Investors may remain focused on execution and the size of the write-down. Latham Advises Chevron on Divestiture of Hess Midstream and DJ Basin Assets

Insider Buying and Selling at Chevron

In other Chevron news, insider R. Pate sold 2,470 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the sale, the insider owned 10,794 shares in the company, valued at approximately $2,213,957.34. This represents a 18.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew Walz sold 16,800 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the transaction, the insider directly owned 14 shares of the company’s stock, valued at $2,814.84. This represents a 99.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,152,582 shares of company stock worth $225,853,661. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CVX. HSBC set a $90.00 price target on Chevron in a report on Friday, September 25th. Dbs Bank upgraded Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Morgan Stanley boosted their target price on Chevron from $210.00 to $218.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Wolfe Research upgraded 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. Finally, Royal Bank Of Canada raised their price target on Chevron from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note 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 company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.24.

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.