Chevron Corporation $CVX Shares Newly Bought by Sacks & Associates LLC

Sacks & Associates LLC purchased a new stake in Chevron Corporation (NYSE:CVX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,214 shares of the oil and gas company’s stock, valued at approximately $860,000.

Several other institutional investors have also recently made changes to their positions in CVX. Blue Capital Inc. bought a new stake in Chevron during the second quarter valued at $786,000. OneAscent Wealth Management LLC purchased a new position in Chevron during the second quarter worth about $973,000. Global Retirement Partners LLC bought a new position in Chevron in the 2nd quarter worth about $14,276,000. Ferguson Wellman Capital Management Inc. raised its holdings in shares of Chevron by 0.6% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company’s stock valued at $186,182,000 after acquiring an additional 5,787 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Chevron by 6.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock valued at $258,853,000 after acquiring an additional 79,439 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Jefferies Financial Group boosted their price objective on Chevron from $216.00 to $233.00 and gave the stock a “buy” rating in a report on Monday, August 17th. TD Cowen raised their target price on shares of Chevron from $205.00 to $215.00 and gave the company a “hold” rating in a research note on Monday, September 28th. Weiss Ratings upgraded shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. BMO Capital Markets boosted their price target on shares of Chevron from $210.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, September 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Chevron from $190.00 to $222.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.24.

Chevron Stock Performance

Shares of NYSE CVX opened at $211.87 on Friday. The stock has a market cap of $418.60 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 0.59 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. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $217.78. The stock’s 50-day moving average is $204.50 and its 200 day moving average is $193.07.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.51. The business had revenue of $67.20 billion during 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%. Chevron’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.77 earnings per share. On average, sell-side analysts anticipate that Chevron Corporation will post 17.47 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Insider Buying and Selling

In related news, insider Andrew Walz sold 16,800 shares of Chevron 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 transaction, the insider directly owned 14 shares of the company’s stock, valued at $2,814.84. The trade was a 99.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider R. Pate sold 2,470 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the transaction, the insider directly owned 10,794 shares in the company, valued at $2,213,957.34. This trade represents a 18.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,152,582 shares of company stock valued at $225,853,661 over the last three months. 0.56% of the stock is owned by corporate insiders.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices support earnings: Crude’s rise, driven by geopolitical supply concerns, has strengthened the investment case for Chevron and helped lift the broader energy sector. UBS reportedly raised its Chevron price target to $235. Why Is Chevron Stock Surging on Thursday?
• Positive Sentiment: Analyst and research support: Piper Sandler maintained its Buy rating, while Zacks highlighted Chevron as its Bull of the Day. Commentary also points to strong cash generation, rising estimates and shareholder returns as reasons to remain constructive. Piper Sandler Sticks to Their Buy Rating for Chevron
• Positive Sentiment: Portfolio optimization: Chevron agreed to sell Hess Midstream and DJ Basin assets to Hess Midstream for revised Bakken contracts and approximately $200 million in cash. The transaction is intended to reduce costs and streamline the portfolio, with reports citing potential cost reductions of about 50%. Hess Midstream Acquires Chevron DJ Basin Assets, Restructures
• Neutral Sentiment: Gulf storm response: Chevron has evacuated workers and shut in production at four Gulf facilities as Hurricane Isaias approaches. Temporary supply reductions could support fuel and crude prices, but the storm also creates risks of operational delays, refinery disruptions and higher logistics costs. Shell, Chevron, BP Pull Crews as Hurricane Isaias Barrels Toward Gulf Coast Refineries
• Negative Sentiment: Mixed analyst views and policy risk: Some analysts remain cautious, and CEO Mike Wirth warned against a diesel-export ban, arguing that restricting exports could distort fuel markets and harm supply. The Hess Midstream deal also reduces near-term earnings expectations for that partner, underscoring execution and valuation uncertainty. Chevron CEO Warns White House Against Diesel Export Ban

About Chevron

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.