Chevron Corporation $CVX Shares Bought by Everhart Financial Group Inc.

Everhart Financial Group Inc. raised its holdings in Chevron Corporation (NYSE:CVX) by 62.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,369 shares of the oil and gas company’s stock after purchasing an additional 7,473 shares during the period. Everhart Financial Group Inc.’s holdings in Chevron were worth $4,365,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CVX. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron during the 1st quarter worth about $25,000. Phillip James Consulting Co. acquired a new position in shares of Chevron in the fourth quarter valued at approximately $26,000. Basso Capital Management L.P. purchased a new position in shares of Chevron during the fourth quarter valued at approximately $27,000. Main Street Group LTD purchased a new position in shares of Chevron during the first quarter valued at approximately $28,000. Finally, Kilter Group LLC acquired a new stake in Chevron during the second quarter worth approximately $28,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Up 3.2%

NYSE:CVX traded up $6.47 on Thursday, hitting $211.62. 3,915,482 shares of the stock were exchanged, compared to its average volume of 10,481,656. The stock has a market cap of $418.11 billion, a PE ratio of 20.27, a PEG ratio of 0.58 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 stock has a fifty day moving average of $203.83 and a 200-day moving average of $192.87. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $217.78.

Chevron (NYSE:CVX) last released its quarterly earnings data 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. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same period in the previous year, the company posted $1.77 EPS. The company’s revenue was up 57.4% compared to the same quarter last year. As a group, equities analysts expect that Chevron Corporation will post 17.47 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 19th. Chevron’s payout ratio is 68.26%.

Insider Buying and Selling at Chevron

In other news, insider Andrew Walz sold 16,800 shares of the stock in a transaction 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 sale, the insider owned 14 shares of the company’s stock, valued at $2,814.84. This represents a 99.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R. Pate sold 2,470 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total transaction of $506,621.70. Following the completion of the transaction, the insider directly owned 10,794 shares in the company, valued at approximately $2,213,957.34. This represents a 18.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,152,582 shares of company stock valued at $225,853,661 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. UBS Group lifted their target price on shares of Chevron from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on Chevron from $190.00 to $222.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Sanford C. Bernstein upped their target price on Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. 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 research note on Thursday, July 2nd. Finally, Argus increased their target price on Chevron from $206.00 to $211.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.24.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices are lifting energy stocks. Oil prices surged as markets reacted to renewed Iran-related tensions, increasing the potential value of Chevron’s production and supporting investor interest in major oil companies. Stock Market Today: Nasdaq Slumps On War Worries; Oil Surges As Chevron Gains
• Positive Sentiment: Chevron’s Hess Midstream restructuring could materially reduce costs. The company is transferring its Hess Midstream interests and certain DJ Basin assets while renegotiating Bakken agreements. Chevron expects approximately 50% lower Bakken midstream costs, potentially improving earnings, free cash flow and return on capital. Chevron to Divest its Ownership Interests in Hess Midstream and DJ Basin Crude Midstream Assets
• Positive Sentiment: Analysts and commentators remain bullish. Zacks upgraded Chevron to “Strong Buy,” while other coverage highlights the company’s cash generation, dividend appeal and potential for improved Bakken economics. Chevron’s Portfolio Reshaping Strategy to Unlock Stronger Returns
• Neutral Sentiment: Gulf of Mexico production is being curtailed ahead of Tropical Storm Isaias. Chevron shut in four operated facilities and evacuated some nonessential personnel. The disruption could temporarily reduce production, but tighter Gulf supply may support crude and fuel prices. Chevron Shuts In Four Gulf Facilities as Hurricane Isaias Nears
• Negative Sentiment: The Hess Midstream transaction includes a sizable near-term accounting hit. Reports estimate Chevron may absorb a $3 billion–$4 billion loss when the deal closes, although management expects longer-term cost savings and a simpler portfolio. Chevron Is Offloading Hess Midstream and Taking a $3 Billion to $4 Billion Hit
• Negative Sentiment: Chevron CEO Mike Wirth warned against a U.S. diesel-export ban. He said restricting exports could remove supply from global markets and worsen fuel shortages, highlighting policy risk for refiners and producers. Chevron CEO Warns Against Unwise Diesel Export Ban

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.