Collaborative Fund Advisors LLC bought a new position in Chevron Corporation (NYSE:CVX – Free Report) in the third quarter, HoldingsChannel reports. The institutional investor bought 3,605 shares of the oil and gas company’s stock, valued at approximately $736,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Main Street Group LTD bought a new stake in shares of Chevron during the 1st quarter valued at $28,000. Kilter Group LLC bought a new position in shares of Chevron during the 2nd quarter valued at approximately $28,000. Principia Wealth Advisory LLC lifted its holdings in shares of Chevron by 49.6% in the 2nd quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 60 shares during the last quarter. Strategic Wealth Advisors LLC purchased a new position in Chevron during the second quarter worth $33,000. Finally, Burk Holdings LLC bought a new position in shares of Chevron during the second quarter valued at approximately $42,000. Institutional investors own 72.42% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently commented on CVX shares. Royal Bank Of Canada boosted their price target on Chevron from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, September 24th. HSBC set a $90.00 price objective on Chevron in a report on Friday, September 25th. Bank of America raised their price objective on Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Dbs Bank raised Chevron to a “moderate buy” rating in a report on Thursday, August 6th. Finally, Morgan Stanley lifted their price objective on shares of Chevron from $226.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $222.04.
View Our Latest Research Report on CVX
Insider Buying and Selling
In other Chevron news, CEO Michael Wirth sold 317,100 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the transaction, 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. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider R. Pate sold 40,700 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total value of $9,224,655.00. Following the transaction, the insider directly owned 8,791 shares of the company’s stock, valued at approximately $1,992,480.15. The trade was 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 90 days, insiders sold 379,470 shares of company stock valued at $77,216,415. 0.56% of the stock is owned by company insiders.
More Chevron News
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Chevron’s third-quarter results were highlighted as strong, with refining strength and cost discipline supporting debt reduction and increased share buybacks. These actions may support shareholder returns. Why ExxonMobil and Chevron Reminded Investors to Keep it Simple
- Positive Sentiment: Chevron advanced talks on Iraq’s West Qurna 2 oilfield and is pursuing additional exploration opportunities, potentially expanding its upstream growth prospects. Chevron Advances Iraq Oilfield Deal, Expands Growth Prospects
- Negative Sentiment: Oil stocks, including Chevron, sold off after Democrats won the Senate in the midterm elections. The market reaction put pressure on the sector, rather than reflecting a newly reported problem at Chevron. Oil Stocks Take a Beating on Midterm Results
- Negative Sentiment: Commentary that oil’s price surge may have peaked—and that crude may not return to $100—added to concerns about future energy-sector earnings. The article also notes that a sudden geopolitical shock could reverse that outlook. What Election Night Could Mean for Energy Stocks
Chevron Price Performance
NYSE:CVX opened at $216.94 on Thursday. 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 firm has a market cap of $428.63 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 0.53 and a beta of 0.47. The company has a 50 day moving average price of $214.40 and a 200-day moving average price of $193.93. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $236.48.
Chevron (NYSE:CVX – Get Free Report) last posted its earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.87 by $0.41. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The firm had revenue of $65.24 billion during the quarter, compared to analysts’ expectations of $61.82 billion. During the same period in the previous year, the business posted $1.85 EPS. The business’s revenue was up 36.3% compared to the same quarter last year. Equities research analysts forecast that Chevron Corporation will post 18.26 EPS for the current year.
Chevron Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be issued a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $7.12 dividend on an annualized basis and a yield of 3.3%. Chevron’s dividend payout ratio is presently 52.08%.
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.
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