Legacy Trust Purchases 3,951 Shares of Chevron Corporation $CVX

Legacy Trust raised its position in Chevron Corporation (NYSE:CVX) by 131.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,947 shares of the oil and gas company’s stock after acquiring an additional 3,951 shares during the period. Legacy Trust’s holdings in Chevron were worth $1,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC lifted its holdings in Chevron by 652,139.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares during the last quarter. Norges Bank purchased a new position in shares of Chevron in the second quarter worth about $2,721,477,000. Laurel Wealth Advisors LLC raised its position in shares of Chevron by 14,194.2% in the second quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock valued at $532,984,000 after purchasing an additional 3,696,177 shares during the period. Berkshire Hathaway Inc lifted its stake in shares of Chevron by 2.9% during the 2nd quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock valued at $17,478,458,000 after buying an additional 3,454,258 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Chevron by 4.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock worth $4,979,255,000 after buying an additional 1,342,723 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CVX. Citigroup dropped their target price on Chevron from $185.00 to $179.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Bank of America decreased their price objective on Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. HSBC set a $169.00 target price on Chevron and gave the stock a “buy” rating in a research note on Monday, December 1st. Morgan Stanley upped their price target on Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Finally, Zacks Research raised shares of Chevron from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 23rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $167.14.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 320,700 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the transaction, the chief executive officer directly owned 14,450 shares in the company, valued at approximately $2,355,205.50. This represents a 95.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Eimear P. Bonner sold 28,334 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $165.05, for a total value of $4,676,526.70. Following the transaction, the chief financial officer directly owned 4,366 shares in the company, valued at approximately $720,608.30. This represents a 86.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 631,990 shares of company stock worth $99,716,808. Company insiders own 0.21% of the company’s stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is in advanced talks with the U.S. government to expand its Venezuela license, which would allow higher exports to Chevron’s refineries and third parties — a clear potential earnings and volume catalyst. Read More.
• Positive Sentiment: Shipping and operational activity is picking up: data and filings show Chevron loading Venezuelan crude and contracting multiple tankers, signalling the company can scale flows quickly if approvals hold. Read More.
• Positive Sentiment: Market positioning and deal activity: reports show Chevron competing with traders and partners to control Venezuelan exports and lining up bids for international assets — moves that could expand supply links and reserves. Read More.
• Positive Sentiment: Analyst support: Bernstein and other outlets have recently raised targets or reiterated bullish theses on CVX amid the Venezuela angle, providing analyst-driven validation. Read More.
• Neutral Sentiment: White House engagement: President Trump met with oil executives to discuss Venezuela reconstruction — policy backing could help but details, guarantees and timelines remain uncertain. Read More.
• Neutral Sentiment: Companies want guarantees: FT/Reuters reporting that U.S. majors want formal guarantees from Washington before committing large capital, implying any large-scale Venezuela rebuild will be phased and conditional. Read More.
• Neutral Sentiment: Distribution risk: some shipments to traditional buyers (notably Chinese buyers) are paused, tempering near-term cash conversion despite increased loading activity. Read More.
• Negative Sentiment: Large insider selling disclosed (CEO, CFO and other insiders sold sizable blocks in early January), which can be perceived negatively and add short-term selling pressure. Read More.
• Negative Sentiment: Analyst downgrades and sell-side caution: at least one firm cut CVX to “Strong Sell” and others trimmed price targets, reflecting some skepticism about sustainable upside after the recent run. Read More. Read More.
• Negative Sentiment: Political/reputational risk: high-profile criticism and scrutiny around U.S. handling of Venezuela investments raise execution and regulatory uncertainty. Read More.

Chevron Price Performance

Chevron stock opened at $162.15 on Friday. The stock has a market cap of $326.49 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 10.15 and a beta of 0.70. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $152.31 and a 200 day simple moving average of $153.49. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the company posted $2.48 EPS. On average, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s dividend payout ratio is currently 96.20%.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.