Chevron Corporation $CVX Stock Sold by International Assets Investment Management LLC

International Assets Investment Management LLC cut its stake in Chevron Corporation (NYSE:CVX) by 9.9% in the third quarter, Holdings Channel.com reports. The firm owned 25,212 shares of the oil and gas company’s stock after selling 2,768 shares during the quarter. International Assets Investment Management LLC’s holdings in Chevron were worth $5,221,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Main Street Group LTD acquired a new stake in shares of Chevron in the 1st quarter valued at about $28,000. Kilter Group LLC acquired a new position in shares of Chevron during the second quarter worth about $28,000. Principia Wealth Advisory LLC boosted its position in shares of Chevron by 49.6% during the second quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock worth $30,000 after buying an additional 60 shares during the period. Strategic Wealth Advisors LLC bought a new position in shares of Chevron during the second quarter worth about $33,000. Finally, Burk Holdings LLC bought a new position in shares of Chevron during the second quarter worth about $42,000. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, CEO Michael Wirth sold 317,100 shares of the company’s stock in a transaction 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 sale, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $3,377,808.00. Following the completion of the sale, the insider owned 14 shares of the company’s stock, valued at approximately $2,814.84. This represents a 99.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 379,470 shares of company stock worth $77,216,415. Insiders own 0.56% of the company’s stock.

Chevron Stock Down 0.1%

CVX stock opened at $212.66 on Friday. 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 business has a 50 day moving average price of $214.91 and a two-hundred day moving average price of $194.40. The company has a market cap of $420.17 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 0.50 and a beta of 0.47. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $236.48.

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

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors 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 is Wednesday, November 18th. Chevron’s payout ratio is presently 52.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Chevron from $190.00 to $222.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Barclays upped their price target on Chevron from $208.00 to $244.00 and gave the stock an “equal weight” rating in a research report on Monday, November 2nd. Bank of America raised 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. Sanford C. Bernstein lifted their price objective on shares of Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Finally, William Blair started coverage on shares of Chevron in a research report on Wednesday, October 28th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.88.

Key Headlines Impacting 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.