Chevron (NYSE:CVX) Stock: Insider R. Hewitt Pate Sells 40,700 Shares

Chevron Corporation (NYSE:CVX) insider R. Pate sold 40,700 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $226.65, for a total value of $9,224,655.00. Following the completion of the transaction, the insider directly owned 8,791 shares of the company’s stock, valued at $1,992,480.15. This represents a 82.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

R. Hewitt Pate also recently made the following trade(s):

• On Monday, October 19th, R. Pate sold 2,400 shares of Chevron stock. The shares were sold at an average price of $225.61, for a total transaction of $541,464.00.
• On Tuesday, August 18th, R. Pate sold 2,470 shares of Chevron stock. The stock was sold at an average price of $205.11, for a total transaction of $506,621.70.

Chevron Trading Up 0.5%

CVX traded up $1.10 during trading on Wednesday, reaching $226.81. 7,913,343 shares of the company’s stock were exchanged, compared to its average volume of 10,395,028. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a one year low of $146.49 and a one year high of $228.48. The firm has a fifty day moving average price of $208.76 and a two-hundred day moving average price of $193.71. The stock has a market capitalization of $448.13 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 0.61 and a beta of 0.53.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.77 earnings per share. As a group, equities research analysts forecast that Chevron Corporation will post 17.71 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Wednesday, August 19th. Chevron’s dividend payout ratio is presently 68.26%.

Institutional Investors Weigh In On Chevron

A number of hedge funds have recently added to or reduced their stakes in the business. Midwest Capital Advisors LLC bought a new position in shares of Chevron during the 1st quarter worth about $25,000. Main Street Group LTD bought a new stake in Chevron in the 1st quarter valued at about $28,000. Kilter Group LLC bought a new stake in Chevron in the 2nd quarter valued at about $28,000. Principia Wealth Advisory LLC raised its stake in Chevron by 49.6% during the 2nd quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock worth $30,000 after buying an additional 60 shares during the period. Finally, Financial Connections Group Inc. raised its stake in Chevron by 129.3% during the 1st quarter. Financial Connections Group Inc. now owns 211 shares of the oil and gas company’s stock worth $43,000 after buying an additional 119 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices support earnings expectations: Brent crude reached a five-month high above $110 as Iran-related geopolitical risks raised concerns about supply disruptions. Because Chevron’s profitability is closely tied to oil prices, the move has helped push the stock toward a 52-week high. Chevron and ExxonMobil Stocks Hit 52-Week Highs
• Positive Sentiment: Venezuela could become a significant growth opportunity: Chevron is reportedly investing billions to expand Venezuelan output, with production potentially reaching 600,000 barrels per day—more than double current levels. Low production costs could create substantial long-term revenue and profit potential if operations and political conditions remain favorable. Chevron Is Pouring Billions Into Venezuela
• Positive Sentiment: Portfolio changes may improve capital efficiency: Chevron’s asset-sale and operating changes are being viewed as efforts to focus the portfolio, reduce costs and strengthen cash flow. Strategic Asset Sales Help Energy Companies Refocus Operations
• Positive Sentiment: Institutional buying and analyst optimism add support: Citadel substantially increased its Chevron stake in the second quarter, while a recent Goldman Sachs call was described as bullish. These developments may reinforce confidence ahead of earnings. Chevron Stock Nears a 52-Week High
• Neutral Sentiment: Strategic transactions carry mixed implications: Chevron’s Bakken changes and a reported effort to take control of a major Iraqi oil field could expand or improve its asset base, but execution, geopolitical and regulatory risks remain. Chevron Moves to Take Over Iraq Oil Field
• Negative Sentiment: Venezuela and Middle East exposure increase risk: Political instability, sanctions, infrastructure constraints and potential supply normalization could limit the benefits of Chevron’s international growth plans and make elevated oil prices difficult to sustain.
• Negative Sentiment: Chevron-related changes pressured Hess Midstream: A Chevron transaction contributed to a steep decline in Hess Midstream units, highlighting possible uncertainty for counterparties and investors as Chevron integrates or restructures assets. Hess Midstream Is Down Nearly 23% in a Month

Analyst Upgrades and Downgrades

CVX has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Chevron from $226.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. UBS Group lifted their price objective on Chevron from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $241.00 target price on shares of Chevron in a report on Tuesday. Royal Bank Of Canada upped their target price on Chevron from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, September 24th. Finally, Bank of America increased their target price on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $213.96.

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.