Chevron Corporation $CVX Shares Bought by Everhart Financial Group Inc.

Everhart Financial Group Inc. lifted its position in shares of Chevron Corporation (NYSE:CVX) by 62.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,369 shares of the oil and gas company’s stock after purchasing an additional 7,473 shares during the period. Everhart Financial Group Inc.’s holdings in Chevron were worth $4,365,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CVX. State Street Corp boosted its holdings in Chevron by 3.9% in the second quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock valued at $28,016,651,000 after purchasing an additional 5,998,852 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Chevron during the 2nd quarter valued at approximately $25,663,729,000. Berkshire Hathaway Inc boosted its stake in shares of Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after buying an additional 8,091,570 shares during the last quarter. Bank of America Corp DE grew its position in shares of Chevron by 5.1% during the first quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock worth $5,716,694,000 after buying an additional 1,334,976 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Chevron by 1.5% during the fourth quarter. Invesco Ltd. now owns 17,119,575 shares of the oil and gas company’s stock worth $2,609,194,000 after buying an additional 254,323 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of NYSE:CVX traded up $6.47 during trading on Thursday, hitting $211.62. 3,915,482 shares of the company traded hands, compared to its average volume of 10,481,656. 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 business’s fifty day moving average is $203.83 and its 200-day moving average is $192.87. The stock has a market capitalization of $418.11 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 0.58 and a beta of 0.53. Chevron Corporation has a one year low of $146.49 and a one year high of $217.78.

Chevron (NYSE:CVX) last released 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 business had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.77 EPS. As a group, equities analysts predict that Chevron Corporation will post 17.47 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were issued a dividend of $1.78 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.4%. Chevron’s payout ratio is 68.26%.

Insider Activity

In related news, insider Andrew Walz sold 16,800 shares of the stock in a transaction dated Monday, August 17th. The shares were 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 $2,814.84. This trade represents a 99.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Wirth sold 317,100 shares of Chevron stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $200.46, for a total transaction 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. Insiders have sold a total of 1,152,582 shares of company stock worth $225,853,661 over the last ninety days. Insiders own 0.56% of the company’s stock.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices are lifting energy stocks. Oil prices surged as markets reacted to renewed Iran-related tensions, increasing the potential value of Chevron’s production and supporting investor interest in major oil companies. Stock Market Today: Nasdaq Slumps On War Worries; Oil Surges As Chevron Gains
• Positive Sentiment: Chevron’s Hess Midstream restructuring could materially reduce costs. The company is transferring its Hess Midstream interests and certain DJ Basin assets while renegotiating Bakken agreements. Chevron expects approximately 50% lower Bakken midstream costs, potentially improving earnings, free cash flow and return on capital. Chevron to Divest its Ownership Interests in Hess Midstream and DJ Basin Crude Midstream Assets
• Positive Sentiment: Analysts and commentators remain bullish. Zacks upgraded Chevron to “Strong Buy,” while other coverage highlights the company’s cash generation, dividend appeal and potential for improved Bakken economics. Chevron’s Portfolio Reshaping Strategy to Unlock Stronger Returns
• Neutral Sentiment: Gulf of Mexico production is being curtailed ahead of Tropical Storm Isaias. Chevron shut in four operated facilities and evacuated some nonessential personnel. The disruption could temporarily reduce production, but tighter Gulf supply may support crude and fuel prices. Chevron Shuts In Four Gulf Facilities as Hurricane Isaias Nears
• Negative Sentiment: The Hess Midstream transaction includes a sizable near-term accounting hit. Reports estimate Chevron may absorb a $3 billion–$4 billion loss when the deal closes, although management expects longer-term cost savings and a simpler portfolio. Chevron Is Offloading Hess Midstream and Taking a $3 Billion to $4 Billion Hit
• Negative Sentiment: Chevron CEO Mike Wirth warned against a U.S. diesel-export ban. He said restricting exports could remove supply from global markets and worsen fuel shortages, highlighting policy risk for refiners and producers. Chevron CEO Warns Against Unwise Diesel Export Ban

Analysts Set New Price Targets

CVX has been the topic of several recent analyst reports. Sanford C. Bernstein upped their price target on shares of Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Zacks Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday. HSBC set a $90.00 price target on Chevron in a research note on Friday, September 25th. The Goldman Sachs Group lowered their price objective on Chevron from $240.00 to $228.00 and set a “buy” rating for the company in a report on Tuesday, September 22nd. Finally, Morgan Stanley increased their target price on Chevron from $210.00 to $218.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $210.24.

Chevron Company 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.