4,214 Shares of Chevron Corporation $CVX Purchased by Sacks & Associates LLC

Sacks & Associates LLC purchased a new position in Chevron Corporation (NYSE:CVX) in the third quarter, Holdings Channel.com reports. The firm purchased 4,214 shares of the oil and gas company’s stock, valued at approximately $860,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. First PREMIER Bank raised its stake in Chevron by 0.8% during the 2nd quarter. First PREMIER Bank now owns 6,450 shares of the oil and gas company’s stock valued at $1,070,000 after buying an additional 50 shares during the last quarter. Vanguard Capital Wealth Advisors boosted its holdings in shares of 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 worth $467,000 after buying an additional 50 shares during the last quarter. Nautilus Advisors LLC increased its holdings in Chevron by 2.8% during the third quarter. Nautilus Advisors LLC now owns 1,859 shares of the oil and gas company’s stock valued at $380,000 after buying an additional 50 shares during the last quarter. Cornerstone Advisory LLC raised its position in Chevron by 0.9% in the first quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock worth $1,164,000 after acquiring an additional 52 shares during the period. Finally, Chickasaw Capital Management LLC boosted its stake in shares of Chevron by 0.8% during the 3rd quarter. Chickasaw Capital Management LLC now owns 7,225 shares of the oil and gas company’s stock worth $1,475,000 after acquiring an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In related news, insider R. Pate sold 2,470 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total transaction of $506,621.70. Following the completion of the sale, the insider directly owned 10,794 shares of the company’s stock, valued at approximately $2,213,957.34. This trade represents a 18.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Walz sold 16,800 shares of the business’s stock in a transaction on 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 transaction, the insider owned 14 shares of the company’s stock, valued at approximately $2,814.84. The trade was a 99.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,152,582 shares of company stock valued at $225,853,661. Company insiders own 0.56% of the company’s stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices support earnings: Crude’s rise, driven by geopolitical supply concerns, has strengthened the investment case for Chevron and helped lift the broader energy sector. UBS reportedly raised its Chevron price target to $235. Why Is Chevron Stock Surging on Thursday?
• Positive Sentiment: Analyst and research support: Piper Sandler maintained its Buy rating, while Zacks highlighted Chevron as its Bull of the Day. Commentary also points to strong cash generation, rising estimates and shareholder returns as reasons to remain constructive. Piper Sandler Sticks to Their Buy Rating for Chevron
• Positive Sentiment: Portfolio optimization: Chevron agreed to sell Hess Midstream and DJ Basin assets to Hess Midstream for revised Bakken contracts and approximately $200 million in cash. The transaction is intended to reduce costs and streamline the portfolio, with reports citing potential cost reductions of about 50%. Hess Midstream Acquires Chevron DJ Basin Assets, Restructures
• Neutral Sentiment: Gulf storm response: Chevron has evacuated workers and shut in production at four Gulf facilities as Hurricane Isaias approaches. Temporary supply reductions could support fuel and crude prices, but the storm also creates risks of operational delays, refinery disruptions and higher logistics costs. Shell, Chevron, BP Pull Crews as Hurricane Isaias Barrels Toward Gulf Coast Refineries
• Negative Sentiment: Mixed analyst views and policy risk: Some analysts remain cautious, and CEO Mike Wirth warned against a diesel-export ban, arguing that restricting exports could distort fuel markets and harm supply. The Hess Midstream deal also reduces near-term earnings expectations for that partner, underscoring execution and valuation uncertainty. Chevron CEO Warns White House Against Diesel Export Ban

Analysts Set New Price Targets

Several research firms have recently commented on CVX. Zacks Research upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. UBS Group boosted their price target on Chevron from $220.00 to $235.00 and gave the company a “buy” rating in a report on Thursday. Wolfe Research upgraded Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a research report on Thursday, July 2nd. TD Cowen raised their price objective on Chevron from $205.00 to $215.00 and gave the stock a “hold” rating in a research note on Monday, September 28th. Finally, JPMorgan Chase & Co. lifted their price objective on Chevron from $190.00 to $222.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.24.

Chevron Price Performance

Shares of Chevron stock opened at $211.87 on Friday. The stock has a market cap of $418.60 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 0.59 and a beta of 0.53. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The stock has a 50 day moving average price of $204.50 and a 200-day moving average price of $193.07. Chevron Corporation has a one year low of $146.49 and a one year high of $217.78.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%. The company had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. During the same period last year, the company earned $1.77 earnings per share. Chevron’s revenue was up 57.4% on a year-over-year basis. Equities analysts expect that Chevron Corporation will post 17.47 EPS for the current year.

Chevron Announces Dividend

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

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.