Chevron Corporation $CVX Stock Holdings Reduced by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC trimmed its holdings in Chevron Corporation (NYSE:CVX) by 11.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 27,141 shares of the oil and gas company’s stock after selling 3,553 shares during the period. Verdence Capital Advisors LLC’s holdings in Chevron were worth $5,542,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC purchased a new stake in Chevron in the first quarter valued at $25,000. Main Street Group LTD purchased a new position in shares of Chevron during the 1st quarter worth $28,000. Kilter Group LLC purchased a new position in shares of Chevron during the 2nd quarter worth $28,000. Principia Wealth Advisory LLC grew its holdings in shares of 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 purchasing an additional 60 shares during the period. Finally, Strategic Wealth Advisors LLC acquired a new stake in shares of Chevron during the 2nd quarter worth about $33,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reported a “high-quality” natural-gas discovery offshore Egypt. The find could expand the company’s Egyptian resource base and support future production growth, although commercial development details are not yet available. Chevron makes high-quality gas discovery offshore Egypt
• Positive Sentiment: Chevron Australia agreed to supply South32 with 55 petajoules of natural gas over five years beginning in 2028. The long-term contract provides additional visibility for Chevron’s Australian gas business and supports demand from Worsley Alumina operations. Chevron Australian natural gas agreement
• Positive Sentiment: Chevron outlined a proposed $13.8 billion investment through 2035 to expand its Vaca Muerta operations in Argentina, with a goal of tripling oil production from its assets there. The plan offers a long-term production-growth opportunity, though it also requires substantial capital and carries regional execution risk. Chevron Vaca Muerta expansion
• Positive Sentiment: Exchange-traded funds recorded approximately $50.5 million in net buying of CVX on October 23, indicating continued institutional or passive-investment demand. Chevron ETF buying
• Neutral Sentiment: Analysts expect a sharp year-over-year rebound in third-quarter earnings, supported by stronger energy prices. However, the anticipated improvement may already be reflected in CVX’s valuation following its recent rally. Chevron expected earnings rebound
• Negative Sentiment: Investor commentary suggests that, despite attractive dividends and buybacks, CVX may offer less near-term upside after Brent crude rose above $115 and the shares approached their 12-month high. This backdrop can encourage investors to wait for earnings or lock in gains. Chevron dividend and buyback commentary
• Negative Sentiment: The principal near-term risk is the October 30 earnings report: elevated expectations leave less room for an earnings miss, cautious guidance, or weaker production and refining results to be received positively.

Chevron Stock Down 1.6%

Shares of CVX opened at $228.18 on Wednesday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $234.08. The firm’s 50 day moving average price is $211.59 and its 200 day moving average price is $192.01. The company has a market cap of $450.84 billion, a P/E ratio of 21.88 and a beta of 0.53.

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, topping analysts’ consensus estimates of $5.55 by $0.51. The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same quarter last year, the company earned $1.77 earnings per share. Chevron’s quarterly revenue was up 57.4% compared to the same quarter last year. Research analysts forecast that Chevron Corporation will post 18.20 earnings per share for the current year.

Insider Buying and Selling at Chevron

In other news, insider R. Pate sold 40,700 shares of the company’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the sale, the insider owned 8,791 shares of the company’s stock, valued at approximately $1,992,480.15. This represents a 82.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Wirth sold 317,100 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value 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. The trade was a 92.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,195,682 shares of company stock worth $235,619,780. 0.56% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. TD Cowen boosted their price objective on shares of Chevron from $215.00 to $225.00 and gave the company a “hold” rating in a report on Monday, October 12th. Morgan Stanley increased their target price on shares of Chevron from $218.00 to $226.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. Royal Bank Of Canada increased their target price on shares of Chevron from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, September 24th. Dbs Bank upgraded shares of Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Finally, BNP Paribas Exane reduced their price target on shares of Chevron from $230.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target 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.