Chevron Corporation $CVX Stock Position Lifted by Calamos Advisors LLC

Calamos Advisors LLC raised its position in shares of Chevron Corporation (NYSE:CVX) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 566,279 shares of the oil and gas company’s stock after buying an additional 10,573 shares during the period. Calamos Advisors LLC’s holdings in Chevron were worth $115,640,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. Main Street Group LTD acquired a new position in Chevron in the 1st quarter valued at about $28,000. Kilter Group LLC purchased a new position in shares of Chevron in the second quarter valued at approximately $28,000. Principia Wealth Advisory LLC boosted its stake in shares of Chevron by 49.6% in the second quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 60 shares during the period. Strategic Wealth Advisors LLC acquired a new position in shares of Chevron in the second quarter valued at approximately $33,000. Finally, Burk Holdings LLC acquired a new position in shares of Chevron in the second quarter valued at approximately $42,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Raymond James Financial reduced their target price on shares of Chevron from $230.00 to $225.00 and set an “outperform” rating on the stock in a report on Tuesday, July 21st. Bank of America boosted their price target on shares of Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Piper Sandler upped their price objective on Chevron from $207.00 to $243.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Mizuho set a $234.00 target price on Chevron in a report on Monday, October 12th. Finally, William Blair started coverage on Chevron in a report on Wednesday, October 28th. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.88.

Chevron Stock Down 0.1%

NYSE CVX traded down $0.27 on Friday, hitting $212.66. 8,080,978 shares of the stock were exchanged, compared to its average volume of 7,613,494. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $236.48. The company has a 50-day moving average price of $214.91 and a 200-day moving average price of $194.40. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The company has a market cap of $420.17 billion, a PE ratio of 15.56, a PEG ratio of 0.54 and a beta of 0.47.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.87 by $0.41. The business had revenue of $65.24 billion for the quarter, compared to analyst estimates of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The company’s revenue was up 36.3% on a year-over-year basis. During the same period last year, the business earned $1.85 EPS. Sell-side analysts anticipate that Chevron Corporation will post 18.56 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, November 18th. Chevron’s payout ratio is 52.08%.

Insider Transactions at Chevron

In other news, insider Andrew Walz sold 16,800 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider owned 14 shares in the company, valued at approximately $2,814.84. This represents a 99.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Wirth sold 317,100 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the sale, the chief executive officer directly owned 26,308 shares in the company, valued at $5,273,701.68. This trade represents a 92.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 379,470 shares of company stock valued at $77,216,415. 0.56% of the stock is currently owned by corporate insiders.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was upgraded by Freedom Broker from “sell” to “hold,” with a $218 price target. The change signals less bearishness, though the target implies only modest upside from the cited share price. Freedom Broker rating
• Positive Sentiment: Natural-gas production topped 9 billion cubic feet per day in the third quarter, supported by operations in Australia and the Eastern Mediterranean. Record output could strengthen Chevron’s position in the liquefied natural gas market, despite operational disruptions. Zacks article on gas production
• Positive Sentiment: Recent coverage points to record cash flow and a run of earnings beats as reasons to consider CVX for the long term. Chevron’s latest reported quarter also exceeded analyst expectations for earnings and revenue, supporting the fundamental case. 247WallSt analysis
• Neutral Sentiment: An executive reported selling 24,439 shares in an option exercise-and-sale transaction. The report alone does not establish a change in the company’s outlook. Insider transaction report
• Negative Sentiment: Coverage says a post-election political shift sent oil prices lower, dragging energy stocks, including Chevron. A separate analyst downgrade also contributed to reported share-price pressure, highlighting sensitivity to oil-market expectations and cautious ratings. Report on analyst downgrade

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.