Chevron Corporation $CVX Stock Sold by Vest Financial LLC

Vest Financial LLC trimmed its stake in Chevron Corporation (NYSE:CVX) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 331,193 shares of the oil and gas company’s stock after selling 5,163 shares during the period. Vest Financial LLC’s holdings in Chevron were worth $67,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in CVX. Cantor Fitzgerald Investment Advisors L.P. increased its position in shares of Chevron by 1.1% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 69,921 shares of the oil and gas company’s stock worth $14,278,000 after acquiring an additional 765 shares during the period. Seamount Financial Group Inc. raised its stake in shares of Chevron by 4.5% during the third quarter. Seamount Financial Group Inc. now owns 14,857 shares of the oil and gas company’s stock valued at $3,034,000 after acquiring an additional 639 shares in the last quarter. Signature Wealth Management Partners LLC raised its stake in shares of Chevron by 1.4% during the third quarter. Signature Wealth Management Partners LLC now owns 3,763 shares of the oil and gas company’s stock valued at $769,000 after acquiring an additional 51 shares in the last quarter. Magnus Financial Group LLC raised its stake in shares of Chevron by 4.6% during the third quarter. Magnus Financial Group LLC now owns 18,120 shares of the oil and gas company’s stock valued at $3,700,000 after acquiring an additional 791 shares in the last quarter. Finally, White Lighthouse Investment Management Inc. boosted its holdings in shares of Chevron by 30.0% in the third quarter. White Lighthouse Investment Management Inc. now owns 1,844 shares of the oil and gas company’s stock valued at $377,000 after purchasing an additional 425 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVX. Piper Sandler increased their price objective on Chevron from $207.00 to $243.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. UBS Group raised their price objective on Chevron from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 8th. Dbs Bank raised Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Argus upped their target price on Chevron from $206.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada upped their target price on Chevron from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $213.96.

Chevron Stock Down 0.1%

Shares of Chevron stock opened at $226.65 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The stock has a market cap of $447.80 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 0.54 and a beta of 0.53. The firm’s 50-day moving average is $209.95 and its two-hundred day moving average is $194.11. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $229.04.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same quarter in the previous year, the business posted $1.77 EPS. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. As a group, research analysts expect that Chevron Corporation will post 18.12 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were paid a dividend of $1.78 per share. The ex-dividend date was Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.1%. Chevron’s dividend payout ratio (DPR) is currently 68.26%.

Insider Buying and Selling at Chevron

In related news, insider R. Pate sold 40,700 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $226.65, for a total value of $9,224,655.00. Following the completion of the transaction, the insider owned 8,791 shares of the company’s stock, valued at $1,992,480.15. The trade was a 82.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Andrew Walz sold 16,800 shares of the company’s stock in a transaction on 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 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 disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,195,682 shares of company stock valued at $235,619,780. 0.56% of the stock is owned by corporate insiders.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is considering a sale of approximately $1 billion in mature U.S. Gulf of Mexico oil and gas assets. Divesting older properties could streamline operations, unlock cash and redirect capital toward newer offshore projects and long-term production growth. Chevron Eyes $1B Gulf Asset Sale to Focus on Growth Projects
• Positive Sentiment: Bank of America raised its Chevron price target to $252 from $227, adding support to investor confidence in the company’s earnings and cash-flow potential. Chevron price target raised at BofA
• Positive Sentiment: Analysts highlight CVX as a potential beneficiary of the oil rally, citing production growth, disciplined capital spending, diversified operations and a dividend supported by recurring cash flow. Oil Prices Climb: Energy Stocks Poised to Benefit
• Neutral Sentiment: Chevron’s leadership changes, including a new chief financial officer, and upcoming production and earnings updates give investors additional information to assess execution and whether higher commodity prices are translating into stronger results. Chevron’s new CFO among four executive changes
• Negative Sentiment: Director R. Pate sold 43,100 shares worth roughly $9.8 million. The transactions were made under a pre-arranged Rule 10b5-1 plan, reducing their value as a bearish signal, but the substantial reduction in ownership may weigh modestly on sentiment. Chevron insider trading filing

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.