Kings Path Partners LLC Makes New Investment in Chevron Corporation $CVX

Kings Path Partners LLC purchased a new stake in shares of Chevron Corporation (NYSE:CVX) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 2,249 shares of the oil and gas company’s stock, valued at approximately $459,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gemmer Asset Management LLC increased its position in Chevron by 1.1% during the third quarter. Gemmer Asset Management LLC now owns 4,254 shares of the oil and gas company’s stock valued at $869,000 after acquiring an additional 47 shares during the last quarter. First PREMIER Bank lifted its holdings in Chevron by 0.8% in the second quarter. First PREMIER Bank now owns 6,450 shares of the oil and gas company’s stock valued at $1,070,000 after acquiring an additional 50 shares during the period. Vanguard Capital Wealth Advisors lifted its holdings in Chevron by 1.8% in the second quarter. Vanguard Capital Wealth Advisors now owns 2,818 shares of the oil and gas company’s stock valued at $467,000 after acquiring an additional 50 shares during the period. Nautilus Advisors LLC lifted its holdings in Chevron by 2.8% in the third quarter. Nautilus Advisors LLC now owns 1,859 shares of the oil and gas company’s stock valued at $380,000 after acquiring an additional 50 shares during the period. Finally, Virginia Estate & Retirement Planning Advisors Inc. boosted its position in Chevron by 20.8% in the third quarter. Virginia Estate & Retirement Planning Advisors Inc. now owns 290 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 50 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Chevron news, Director John Hess sold 710,665 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total value of $137,940,076.50. Following the completion of the transaction, the director directly owned 363,711 shares in the company, valued at $70,596,305.10. This represents a 66.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider R. Pate sold 40,700 shares of the stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the completion of the sale, the insider directly owned 8,791 shares of the company’s stock, valued at approximately $1,992,480.15. This trade represents a 82.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 1,195,682 shares of company stock valued at $235,619,780. Company insiders own 0.56% of the company’s stock.

Chevron Stock Down 0.1%

NYSE CVX opened at $226.65 on Friday. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $229.04. 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 capitalization of $447.80 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 0.54 and a beta of 0.53. The stock’s 50-day moving average price is $209.95 and its 200-day moving average price is $194.11.

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

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Wednesday, August 19th. Chevron’s dividend payout ratio is presently 68.26%.

Analysts Set New Price Targets

Several research analysts have issued reports on CVX shares. Morgan Stanley raised their target price on Chevron from $218.00 to $226.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. JPMorgan Chase & Co. upped their price target on shares of Chevron from $190.00 to $222.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Raymond James Financial reduced their price target on shares of Chevron from $230.00 to $225.00 and set an “outperform” rating for the company in a research report on Tuesday, July 21st. Dbs Bank upgraded shares of Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen raised shares of Chevron from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $213.96.

Key Headlines Impacting Chevron

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.