Chevron Corporation $CVX Stock Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management increased its stake in Chevron Corporation (NYSE:CVX) by 8.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,088 shares of the oil and gas company’s stock after purchasing an additional 3,054 shares during the quarter. Ritholtz Wealth Management’s holdings in Chevron were worth $8,391,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Main Street Group LTD acquired a new position in Chevron during the first quarter worth about $28,000. Kilter Group LLC purchased a new position in Chevron in the second quarter valued at about $28,000. Principia Wealth Advisory LLC increased its holdings in Chevron by 49.6% in the second quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 60 shares in the last quarter. Legacy Wealth Managment LLC ID lifted its position in shares of Chevron by 81.8% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 220 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 99 shares during the period. Finally, Strategic Wealth Advisors LLC purchased a new stake in shares of Chevron during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

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 of the company’s stock, valued at approximately $5,273,701.68. This represents a 92.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider R. Pate sold 40,700 shares of the stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $226.65, for a total value of $9,224,655.00. Following the sale, the insider owned 8,791 shares in the company, valued at approximately $1,992,480.15. This trade represents a 82.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 379,470 shares of company stock worth $77,216,415 in the last ninety days. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Zacks Research upgraded Chevron from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. JPMorgan Chase & Co. lifted their price objective on Chevron from $190.00 to $222.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. BNP Paribas Exane reduced their price objective on Chevron from $230.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Mizuho set a $234.00 target price on Chevron in a research report on Monday, October 12th. Finally, Piper Sandler upped their target price on Chevron from $207.00 to $243.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $221.88.

Key Stories Impacting Chevron

Investors following CVX have been watching these stories:

• Positive Sentiment: Chevron’s recent third-quarter results reportedly strengthened the earnings outlook, and the company reaffirmed its quarterly dividend. One valuation analysis argues the shares could be substantially undervalued, though that estimate depends on the model’s assumptions. Chevron Could Be 76% Below Fair Value As Q3 Earnings Reset Valuation
• Positive Sentiment: A 25% stake in Chevron’s Namibia offshore license is being sold to QatarEnergy. Sharing exploration costs while retaining control could limit Chevron’s financial exposure and preserve potential upside from a discovery. Chevron Expands Namibia Ties With QatarEnergy Offshore Stake Deal
• Neutral Sentiment: Dividend coverage highlights Chevron’s long record of annual increases—39 consecutive years—and its reaffirmed payout. That history may appeal to income investors, though comparisons with other dividend stocks do not by themselves indicate near-term earnings or share-price direction. Exxon vs. Chevron: Which Oil Dividend Wins the Next Decade?

Chevron Stock Performance

NYSE:CVX opened at $213.21 on Thursday. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $419.05 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 0.49 and a beta of 0.47. The firm has a 50-day moving average price of $215.23 and a two-hundred day moving average price of $195.08. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $236.48.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.87 by $0.41. The company had revenue of $65.24 billion for the quarter, compared to the consensus estimate of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.49%. The company’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.85 earnings per share. As a group, research analysts expect that Chevron Corporation will post 18.64 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, November 18th. Chevron’s dividend payout ratio (DPR) is 52.08%.

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.