Chevron Corporation $CVX Stock: Vest Financial LLC Trims Stake

Vest Financial LLC trimmed its position in shares of Chevron Corporation (NYSE:CVX) by 1.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 331,193 shares of the oil and gas company’s stock after selling 5,163 shares during the period. Vest Financial LLC’s holdings in Chevron were worth $67,633,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Cantor Fitzgerald Investment Advisors L.P. boosted its position in shares of Chevron by 1.1% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 69,921 shares of the oil and gas company’s stock worth $14,278,000 after purchasing an additional 765 shares in the last quarter. Seamount Financial Group Inc. grew its stake in Chevron by 4.5% during the 3rd quarter. Seamount Financial Group Inc. now owns 14,857 shares of the oil and gas company’s stock worth $3,034,000 after buying an additional 639 shares during the last quarter. Signature Wealth Management Partners LLC increased its position in Chevron by 1.4% during the 3rd quarter. Signature Wealth Management Partners LLC now owns 3,763 shares of the oil and gas company’s stock valued at $769,000 after buying an additional 51 shares in the last quarter. Magnus Financial Group LLC increased its position in Chevron by 4.6% during the 3rd quarter. Magnus Financial Group LLC now owns 18,120 shares of the oil and gas company’s stock valued at $3,700,000 after buying an additional 791 shares in the last quarter. Finally, White Lighthouse Investment Management Inc. increased its position in Chevron by 30.0% during the 3rd quarter. White Lighthouse Investment Management Inc. now owns 1,844 shares of the oil and gas company’s stock valued at $377,000 after buying an additional 425 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is considering a sale of approximately $1 billion in mature U.S. Gulf of Mexico oil and gas assets. Divesting older properties could streamline operations, unlock cash and redirect capital toward newer offshore projects and long-term production growth. Chevron Eyes $1B Gulf Asset Sale to Focus on Growth Projects
• Positive Sentiment: Bank of America raised its Chevron price target to $252 from $227, adding support to investor confidence in the company’s earnings and cash-flow potential. Chevron price target raised at BofA
• Positive Sentiment: Analysts highlight CVX as a potential beneficiary of the oil rally, citing production growth, disciplined capital spending, diversified operations and a dividend supported by recurring cash flow. Oil Prices Climb: Energy Stocks Poised to Benefit
• Neutral Sentiment: Chevron’s leadership changes, including a new chief financial officer, and upcoming production and earnings updates give investors additional information to assess execution and whether higher commodity prices are translating into stronger results. Chevron’s new CFO among four executive changes
• Negative Sentiment: Director R. Pate sold 43,100 shares worth roughly $9.8 million. The transactions were made under a pre-arranged Rule 10b5-1 plan, reducing their value as a bearish signal, but the substantial reduction in ownership may weigh modestly on sentiment. Chevron insider trading filing

Analysts Set New Price Targets

A number of research firms have commented on CVX. Jefferies Financial Group increased their price target on Chevron from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Dbs Bank upgraded Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Barclays cut their price objective on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating on the stock in a report on Monday, August 17th. Mizuho set a $234.00 price objective on shares of Chevron in a report on Monday, October 12th. Finally, UBS Group increased their price objective on shares of Chevron from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 8th. One equities 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.96.

Chevron Price Performance

Shares of CVX opened at $226.65 on Friday. The firm has a market capitalization of $447.80 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 0.54 and a beta of 0.53. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $229.04. The company’s fifty day moving average price is $209.95 and its 200-day moving average price is $194.11.

Chevron (NYSE:CVX) last released its 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. Chevron had a return on equity of 11.09% and a net margin of 9.57%. The firm had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. During the same period in the prior year, the firm earned $1.77 EPS. The firm’s revenue was up 57.4% on a year-over-year basis. On average, equities research analysts predict that Chevron Corporation will post 18.12 EPS for the current year.

Chevron Announces Dividend

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

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 317,100 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the sale, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Hess sold 710,665 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the transaction, the director owned 363,711 shares in the company, valued at approximately $70,596,305.10. This trade represents a 66.15% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,195,682 shares of company stock valued at $235,619,780. 0.56% of the stock is owned by company insiders.

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.