37,202 Chevron Corporation $CVX Shares Bought by Howard Capital Management LLC

Howard Capital Management LLC boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 181.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,675 shares of the oil and gas company’s stock after buying an additional 37,202 shares during the quarter. Howard Capital Management LLC’s holdings in Chevron were worth $11,875,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. State Street Corp raised its stake in shares of Chevron by 3.9% during the second quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock valued at $28,016,651,000 after acquiring an additional 5,998,852 shares in the last quarter. BlackRock Inc. bought a new position in Chevron in the second quarter worth approximately $25,663,729,000. Bank of America Corp DE grew its stake in Chevron by 5.1% in the first quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock worth $5,716,694,000 after purchasing an additional 1,334,976 shares in the last quarter. Amundi grew its stake in Chevron by 3.0% in the first quarter. Amundi now owns 12,185,436 shares of the oil and gas company’s stock worth $2,521,166,000 after purchasing an additional 349,416 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Chevron during the 2nd quarter worth $2,378,114,000. Institutional investors own 72.42% of the company’s stock.

Insider Activity

In other news, insider R. Pate sold 2,470 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total transaction of $506,621.70. Following the transaction, the insider directly owned 10,794 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Also, Director John B. Hess sold 100,000 shares of the stock in a transaction 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 sale, the director owned 178,045 shares of the company’s stock, valued at approximately $34,587,021.70. This represents a 35.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,152,582 shares of company stock valued at $225,853,661 in the last ninety days. 0.56% of the stock is currently owned by insiders.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Morgan Stanley raised its Chevron price target to $226 from $218 and assigned an “overweight” rating, while Wells Fargo reportedly initiated or reiterated a “buy” recommendation. These upgrades reinforce bullish sentiment, although Morgan Stanley’s revised target implies limited additional upside from current levels. Morgan Stanley raises Chevron price target
• Positive Sentiment: Chevron was selected as a relative-strength stock by Zacks, reflecting strong recent price performance and improving earnings estimates. The company is also receiving attention as a long-term and dividend-oriented investment, which may attract additional income-focused investors. Zacks relative strength stock picks
• Positive Sentiment: Wall Street expects a sharp year-over-year increase in Chevron’s third-quarter earnings, with results due by the end of October. Anticipation of stronger profits is helping sustain interest ahead of the report. Chevron earnings expectations
• Neutral Sentiment: Diamond Hill Capital highlighted Chevron in its third-quarter investor letter after its large-cap strategy outperformed the Russell 1000 Value Index. The item indicates institutional interest but does not represent a new company announcement or change in fundamentals. Diamond Hill Chevron investment discussion
• Negative Sentiment: CEO Mike Wirth warned that commercial inventories, emergency reserves and previously sanctioned oil supplies have been depleted following the Iran-related shock. While tighter supply could support crude prices and Chevron’s upstream revenue, it also raises geopolitical, refining and diesel-price risks. Chevron CEO warns oil buffers are depleted

Chevron Stock Performance

CVX stock opened at $225.00 on Friday. The firm has a market cap of $444.55 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 0.61 and a beta of 0.53. The firm has a 50-day simple moving average of $207.58 and a two-hundred day simple moving average of $193.51. Chevron Corporation has a one year low of $146.49 and a one year high of $225.31. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25.

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 analysts’ consensus estimates of $5.55 by $0.51. The business had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company’s revenue was up 57.4% compared to the same quarter last year. During the same period last year, the business earned $1.77 EPS. On average, equities analysts forecast that Chevron Corporation will post 17.71 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were paid a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.2%. The ex-dividend date was Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is 68.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CVX. Wells Fargo & Company lifted their target price on Chevron from $226.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, September 3rd. Bank of America increased their price target on Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded Chevron from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday. Piper Sandler raised their price target on Chevron from $207.00 to $243.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Finally, UBS Group lifted their price objective on Chevron from $220.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $213.42.

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.