Integrated Advisors Network LLC Purchases 9,935 Shares of Chevron Corporation $CVX

Integrated Advisors Network LLC raised its position in shares of Chevron Corporation (NYSE:CVX) by 25.4% during the third quarter, HoldingsChannel.com reports. The fund owned 49,113 shares of the oil and gas company’s stock after buying an additional 9,935 shares during the quarter. Integrated Advisors Network LLC’s holdings in Chevron were worth $10,029,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CVX. Blue Capital Inc. bought a new stake in Chevron in the second quarter worth approximately $786,000. OneAscent Wealth Management LLC bought a new position in shares of Chevron during the 2nd quarter worth approximately $973,000. Global Retirement Partners LLC bought a new position in shares of Chevron during the 2nd quarter worth approximately $14,276,000. Greg Jennings LLC acquired a new stake in shares of Chevron during the 3rd quarter worth approximately $1,314,000. Finally, Ferguson Wellman Capital Management Inc. grew its position in shares of Chevron by 0.6% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company’s stock worth $186,182,000 after buying an additional 5,787 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In related news, insider Andrew Walz sold 16,800 shares of Chevron 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 completion of the sale, the insider owned 14 shares of the company’s stock, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael K. Wirth sold 317,100 shares of the business’s stock in a transaction on 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 sale, the chief executive officer owned 26,308 shares of the company’s stock, valued at $5,273,701.68. This trade represents a 92.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,195,682 shares of company stock valued at $235,619,780 over the last ninety days. Company insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVX. Argus lifted their price objective on shares of Chevron from $206.00 to $211.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Sanford C. Bernstein increased their target price on shares of Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Weiss Ratings raised shares of Chevron from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 16th. Mizuho set a $234.00 price target on shares of Chevron in a report on Monday, October 12th. Finally, Wall Street Zen raised shares of Chevron from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $213.96.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Bank of America raised its Chevron price target to $252 from $227, signaling greater confidence in the company’s earnings and cash-flow outlook. Chevron price target raised to $252 from $227 at BofA
• Positive Sentiment: Chevron is reportedly selling older Gulf of Mexico assets to sharpen its focus on higher-priority U.S. Gulf operations. Asset sales could streamline the portfolio, improve capital efficiency and support cash flow, although proceeds and transaction terms remain important. Chevron to sharpen US Gulf focus with sale of older assets
• Positive Sentiment: Elevated oil prices, with Brent crude pushed above $110 by Iran-related supply concerns, have helped Chevron and other integrated oil companies reach 52-week highs by improving the potential value of production and cash generation. Chevron, ExxonMobil Stocks Hit 52-Week Highs
• Positive Sentiment: Investors are watching Chevron’s Venezuela investment for potential production growth toward roughly 600,000 barrels per day. If achieved, the project could add substantial revenue, while relatively low production costs may support long-term profitability. Chevron Is Pouring Billions Into Venezuela
• Neutral Sentiment: Chevron’s production update and upcoming earnings are drawing attention because investors will assess whether higher oil prices and recent operational changes are translating into stronger results. Why Is Chevron in Focus?
• Negative Sentiment: Director R. Pate sold 43,100 Chevron shares for approximately $9.8 million across two transactions. The trades were made under a pre-arranged Rule 10b5-1 plan, reducing their significance as a discretionary bearish signal, but the large reduction in ownership could still weigh modestly on sentiment. Chevron insider trading filing

Chevron Stock Up 0.5%

CVX stock opened at $226.81 on Thursday. The stock’s 50 day simple moving average is $209.37 and its 200 day simple moving average is $193.91. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $228.48. 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 company has a market cap of $448.13 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 0.62 and a beta of 0.53.

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

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend 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.