Chevron Corporation $CVX Position Decreased by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. reduced its stake in Chevron Corporation (NYSE:CVX) by 4.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,885 shares of the oil and gas company’s stock after selling 11,182 shares during the quarter. Chevron comprises approximately 1.9% of Schwartz Investment Counsel Inc.’s portfolio, making the stock its 17th biggest holding. Schwartz Investment Counsel Inc.’s holdings in Chevron were worth $53,480,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. purchased a new position in Chevron in the 2nd quarter worth approximately $25,663,729,000. Bank of New York Mellon Corp purchased a new stake in shares of Chevron during the 2nd quarter valued at $2,378,114,000. Legal & General Group Plc purchased a new stake in shares of Chevron during the 2nd quarter valued at $1,462,412,000. Deutsche Bank AG purchased a new stake in shares of Chevron during the 2nd quarter valued at $1,189,577,000. Finally, State Street Corp lifted its holdings in shares of Chevron by 3.9% during the 2nd quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock worth $28,016,651,000 after acquiring an additional 5,998,852 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices and potential earnings beat: Crude prices have strengthened Chevron’s earnings outlook, with analysts expecting the company to outperform third-quarter estimates when it reports on October 30. Investors will focus on production growth, cash flow, dividends and buybacks. 3 Energy Stocks Poised to Outshine Earnings Estimates in Q3
• Positive Sentiment: Production and Hess synergies are supporting cash flow: Ariel Investments highlighted Chevron’s strong production, benefits from its Hess acquisition and improving cash generation as reasons for the stock’s gains. The comments reinforce the view that Chevron’s scale and integration efforts can improve shareholder returns. Chevron Corporation Gains on Strong Production, Hess Synergies, and Higher Cash Flow
• Positive Sentiment: Expansion of offshore and international opportunities: TotalEnergies agreed to acquire a 25% interest in 26 Chevron-operated U.S. offshore exploration leases, while Chevron will take a 75% operated interest in two adjacent leases. Chevron also reportedly made a high-quality offshore gas discovery in Egypt and is positioned to participate in a 2027 Indian LPG supply tender. These developments could expand its long-term production portfolio. TotalEnergies Enters Chevron-Operated Offshore Exploration Blocks
• Neutral Sentiment: Long-term gas contract adds revenue visibility: Chevron Australia will supply South32 with 55 petajoules of natural gas over five years beginning in 2028, supporting a more predictable future revenue stream, though the financial benefit is several years away. Chevron’s Australian Business Signs Long-Term Natural Gas Deal
• Negative Sentiment: Valuation and oil-price risk are rising: After a roughly 145% five-year advance and a strong recent run, valuation analyses question whether Chevron’s current market value assumes persistently high oil prices. A disappointment in crude prices or earnings could therefore trigger profit-taking. Chevron Earnings Preview

Insider Buying and Selling at Chevron

In related news, CEO Michael Wirth sold 317,100 shares of Chevron 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 transaction, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. This trade represents a 92.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew Walz sold 16,800 shares of Chevron stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the transaction, the insider owned 14 shares in the company, 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. Insiders sold a total of 1,195,682 shares of company stock worth $235,619,780 in the last quarter. 0.56% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on CVX shares. Bank of America upped their target price on shares of Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. William Blair began coverage on Chevron in a research note on Wednesday. They set an “outperform” rating for the company. Argus lifted their price target on Chevron from $206.00 to $211.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded Chevron from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, October 16th. Finally, Zacks Research upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $213.96.

Chevron Trading Up 0.3%

CVX stock opened at $228.88 on Thursday. The company has a market capitalization of $452.22 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 0.55 and a beta of 0.53. Chevron Corporation has a one year low of $146.49 and a one year high of $234.08. The company’s 50 day moving average price is $212.05 and its two-hundred day moving average price is $192.35. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same period in the previous year, the business posted $1.77 EPS. The business’s quarterly revenue was up 57.4% on a year-over-year basis. As a group, analysts predict that Chevron Corporation will post 18.20 earnings per share for the current fiscal year.

Chevron Profile

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.