Chevron Corporation $CVX Shares Acquired by TrinityBridge Ltd

TrinityBridge Ltd increased its stake in Chevron Corporation (NYSE:CVX) by 34.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,801 shares of the oil and gas company’s stock after purchasing an additional 7,065 shares during the quarter. TrinityBridge Ltd’s holdings in Chevron were worth $5,684,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Main Street Group LTD bought a new stake in Chevron in the first quarter worth $28,000. Kilter Group LLC bought a new position in Chevron during the second quarter valued at about $28,000. Principia Wealth Advisory LLC lifted its position in shares of Chevron by 49.6% in the second 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 last quarter. Strategic Wealth Advisors LLC acquired a new stake in shares of Chevron in the second quarter worth about $33,000. Finally, Burk Holdings LLC bought a new stake in shares of Chevron during the 2nd quarter worth about $42,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVX. Raymond James Financial cut their price objective on Chevron from $230.00 to $225.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 21st. JPMorgan Chase & Co. upped their target price on Chevron from $190.00 to $222.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. TD Cowen increased their price target on Chevron from $215.00 to $225.00 and gave the company a “hold” rating in a report on Monday, October 12th. Jefferies Financial Group lifted their price target on shares of Chevron from $216.00 to $233.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Finally, BNP Paribas Exane reduced their price objective on shares of Chevron from $230.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $222.04.

Chevron Trading Down 1.0%

Shares of CVX stock opened at $225.58 on Wednesday. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $236.48. The firm’s fifty day simple moving average is $214.06 and its 200 day simple moving average is $193.68. The firm has a market capitalization of $445.70 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 0.54 and a beta of 0.47. 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 (NYSE:CVX) last released its earnings results on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.87 by $0.41. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The firm had revenue of $65.24 billion during the quarter, compared to analysts’ expectations of $61.82 billion. During the same period in the prior year, the company earned $1.85 EPS. The business’s quarterly revenue was up 36.3% compared to the same quarter last year. As a group, sell-side analysts predict that Chevron Corporation will post 18.20 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be issued a dividend of $1.78 per share. The ex-dividend date is Wednesday, November 18th. This represents a $7.12 annualized dividend and a dividend yield of 3.2%. Chevron’s payout ratio is presently 52.08%.

Insider Activity

In other news, insider Andrew Walz sold 16,800 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were 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 of the company’s stock, valued at approximately $2,814.84. This represents a 99.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R. Pate sold 40,700 shares of the stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the completion of the sale, the insider owned 8,791 shares of the company’s stock, valued at approximately $1,992,480.15. The trade was a 82.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 379,470 shares of company stock valued at $77,216,415. Insiders own 0.56% of the company’s stock.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reported adjusted third-quarter earnings of $5.28 per share, topping expectations, with record U.S. refinery throughput and strong refining margins contributing to results. UBS raised its price target to $265 and retained a Buy rating after the results. Q3 results deep dive
• Positive Sentiment: Chevron says it remains on track to supply power to a Microsoft West Texas data center in 2028 through Project Kilby, despite permitting uncertainty—an update supporting its efforts to build data-center energy demand into a growth opportunity. Chevron data-center power target
• Neutral Sentiment: Oil-market sentiment is volatile: Brent fell about 8% after signals that Iran may be open to peace talks, but reports of U.S. strikes in Iran complicate the outlook. A sustained easing of conflict could pressure crude prices, while renewed escalation could reverse the move. Oil-market reaction to Iran news
• Negative Sentiment: Lower crude prices pose a potential headwind for Chevron’s upstream earnings, and the shares may also be vulnerable to profit-taking after a substantial rally. ETF flows were mixed, with reports of net sales on Oct. 30. ETF sales of Chevron shares
• Negative Sentiment: DZ Bank lowered its rating from Buy to Hold, adding a cautious analyst view even as its $240 target remains above the quoted share price. DZ Bank rating action

Chevron Company 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.