8,662 Chevron Corporation $CVX Shares Purchased by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC grew its holdings in Chevron Corporation (NYSE:CVX) by 12.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 80,530 shares of the oil and gas company’s stock after purchasing an additional 8,662 shares during the quarter. Chevron comprises approximately 0.8% of Soltis Investment Advisors LLC’s holdings, making the stock its 20th largest position. Soltis Investment Advisors LLC’s holdings in Chevron were worth $16,445,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Blue Capital Inc. acquired a new stake in shares of Chevron in the 2nd quarter valued at approximately $786,000. OneAscent Wealth Management LLC bought a new stake in shares of Chevron during the 2nd quarter valued at approximately $973,000. Global Retirement Partners LLC acquired a new position in Chevron during the 2nd quarter worth approximately $14,276,000. Greg Jennings LLC acquired a new position in Chevron during the 3rd quarter worth approximately $1,314,000. Finally, Ferguson Wellman Capital Management Inc. increased its position in Chevron by 0.6% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company’s stock worth $186,182,000 after purchasing an additional 5,787 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $235.62 on Friday. The firm has a market capitalization of $465.53 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 0.55 and a beta of 0.53. 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 business’s 50-day moving average price is $213.16 and its 200-day moving average price is $193.07. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $236.48.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.87 by $0.41. Chevron had a return on equity of 11.09% and a net margin of 9.57%. The company had revenue of $65.24 billion during the quarter, compared to the consensus estimate of $61.82 billion. During the same quarter in the prior year, the firm posted $1.85 earnings per share. The firm’s revenue was up 36.3% compared to the same quarter last year. Equities research analysts forecast that Chevron Corporation will post 18.20 EPS for the current year.

Insider Buying and Selling at Chevron

In other Chevron news, insider Andrew Walz sold 16,800 shares of the company’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 value of $3,377,808.00. Following the completion of the transaction, the insider directly owned 14 shares in the company, valued at approximately $2,814.84. This represents a 99.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael K. Wirth sold 317,100 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the completion of the transaction, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,195,682 shares of company stock valued at $235,619,780 in the last quarter. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Weiss Ratings raised shares of Chevron from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 16th. Wall Street Zen raised shares of Chevron from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. BMO Capital Markets upped their price target on shares of Chevron from $210.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, September 3rd. Jefferies Financial Group upped their price target on shares of Chevron from $216.00 to $233.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Finally, BNP Paribas Exane dropped their price target on Chevron from $230.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $213.96.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Quarterly earnings exceeded expectations. Chevron reported adjusted earnings of $5.28 per share, above the roughly $4.87-$4.89 analyst consensus, while revenue reached $65.24 billion versus estimates of $61.82 billion. Adjusted earnings of approximately $10.4 billion nearly tripled from a year earlier. Chevron tops Q3 expectations on higher downstream profit
• Positive Sentiment: Refining was the standout business. Downstream earnings climbed to nearly $4.9 billion from about $1.1 billion a year earlier as refinery outages and conflicts involving Iran and Russia reduced fuel supplies and lifted margins. Chevron beats earnings expectations as refining profits soar
• Positive Sentiment: Cash generation and the balance sheet improved. Chevron generated roughly $12 billion of free cash flow and $16 billion of operating cash flow, while reducing net debt by about $7.8 billion. This supports dividends, potential buybacks and future investment. Chevron’s profit nearly tripled from a year ago
• Neutral Sentiment: Analyst sentiment has become more constructive. One valuation estimate increased from $227.71 to $232.50, with higher oil-price assumptions, strong refining results and possible Venezuela-related upside supporting revised targets. However, the stock’s rally has reduced its dividend yield for new investors. Chevron stock fair value edges higher
• Negative Sentiment: Investors face risks beyond the strong quarter. Chevron warned that downtime could reduce fourth-quarter production by approximately 225,000 barrels of oil equivalent per day. In addition, refining profits may normalize if geopolitical disruptions ease, while the stock’s elevated valuation and lingering questions about buybacks could limit further upside. Chevron says downtime could hit Q4 output

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.