3,549 Chevron Corporation $CVX Shares Sold by M&G PLC

M&G PLC reduced its stake in Chevron Corporation (NYSE:CVX) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 71,681 shares of the oil and gas company’s stock after selling 3,549 shares during the quarter. M&G PLC’s holdings in Chevron were worth $14,623,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CVX. Blue Capital Inc. acquired a new stake in shares of Chevron in the second quarter worth $786,000. OneAscent Wealth Management LLC bought a new position in Chevron during the second quarter worth $973,000. Global Retirement Partners LLC bought a new position in Chevron during the second quarter worth $14,276,000. Greg Jennings LLC bought a new stake in Chevron in the 3rd quarter valued at $1,314,000. Finally, Ferguson Wellman Capital Management Inc. boosted its holdings in 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 purchasing an additional 5,787 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.2%

Shares of CVX stock opened at $211.15 on Wednesday. The firm has a fifty day moving average of $215.19 and a 200-day moving average of $194.85. The stock has a market cap of $414.99 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 0.49 and a beta of 0.47. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $236.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.07 and a current ratio of 1.34.

Chevron (NYSE:CVX) last posted its earnings results 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. Chevron had a net margin of 11.56% and a return on equity of 14.49%. The business had revenue of $65.24 billion for the quarter, compared to analysts’ expectations of $61.82 billion. During the same quarter in the previous year, the firm posted $1.85 earnings per share. The firm’s revenue for the quarter was up 36.3% on a year-over-year basis. On average, equities research analysts forecast that Chevron Corporation will post 18.56 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed 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 3.4%. The ex-dividend date of this dividend is Wednesday, November 18th. Chevron’s payout ratio is presently 52.08%.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is selling QatarEnergy a 25% stake in its PEL82 offshore exploration license in Namibia. The deal shares exploration costs while Chevron retains control and exposure to potential discoveries. Chevron Expands Namibia Ties With QatarEnergy Offshore Stake Deal
• Positive Sentiment: Chevron is pursuing a $13.8 billion expansion in Argentina’s Vaca Muerta shale formation, aiming to triple its output there by 2035. Applying Permian expertise could support growth, though the plan faces high costs and pipeline constraints. Can Chevron’s $13.8B Vaca Muerta Bet Fuel Long-Term Growth?
• Neutral Sentiment: Chevron plans to double production in Venezuela, offering potential volume growth but exposing the company to political and investment risks. The article notes ExxonMobil’s reluctance to return after past asset seizures and flags uncertainty around long-term oil demand. Chevron Is Doubling Venezuela Production. ExxonMobil Says It’s Not in a Rush.
• Negative Sentiment: Oil prices fell to their lowest since August after President Trump said the Iran war was effectively over. Lower crude prices can weigh on Chevron’s earnings outlook; however, the report says there was no signed deal and Iran denied talks, leaving the situation uncertain. Oil Prices Just Fell to Their Lowest Since August

Insider Buying and Selling at Chevron

In other news, insider Andrew Walz sold 16,800 shares of the company’s stock in a transaction that occurred 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 directly 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 document filed with the SEC, which is accessible through this link. Also, CEO Michael Wirth sold 317,100 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the sale, the chief executive officer owned 26,308 shares in the company, valued at approximately $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 379,470 shares of company stock valued at $77,216,415. 0.56% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on CVX. Bank of America lifted their target price on Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. TD Cowen upped their price target on Chevron from $215.00 to $225.00 and gave the company a “hold” rating in a report on Monday, October 12th. UBS Group raised their price objective on Chevron from $235.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, November 2nd. Jefferies Financial Group lifted 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. Finally, Argus lifted their price objective on Chevron from $206.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $221.88.

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.