3,549 Chevron Corporation $CVX Shares Sold by M&G PLC

M&G PLC cut its holdings in shares of Chevron Corporation (NYSE:CVX) by 4.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,681 shares of the oil and gas company’s stock after selling 3,549 shares during the period. M&G PLC’s holdings in Chevron were worth $14,623,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CVX. State Street Corp raised its position in Chevron by 3.9% in the 2nd quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock valued at $28,016,651,000 after purchasing an additional 5,998,852 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Chevron during the second quarter worth $25,663,729,000. Bank of America Corp DE grew its holdings in shares of Chevron by 5.1% during the first quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock worth $5,716,694,000 after purchasing an additional 1,334,976 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Chevron in the second quarter valued at $2,378,114,000. Finally, Amundi increased its stake in shares of Chevron by 14.1% in the second quarter. Amundi now owns 13,900,271 shares of the oil and gas company’s stock valued at $2,304,109,000 after buying an additional 1,714,835 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael Wirth sold 317,100 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $200.46, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 completion of the transaction, the insider directly owned 8,791 shares in the company, valued at approximately $1,992,480.15. This trade represents a 82.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 379,470 shares of company stock worth $77,216,415. Insiders own 0.56% of the company’s stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is selling QatarEnergy a 25% stake in its PEL82 offshore exploration license in Namibia. The deal shares exploration costs while Chevron retains control and exposure to potential discoveries. Chevron Expands Namibia Ties With QatarEnergy Offshore Stake Deal
• Positive Sentiment: Chevron is pursuing a $13.8 billion expansion in Argentina’s Vaca Muerta shale formation, aiming to triple its output there by 2035. Applying Permian expertise could support growth, though the plan faces high costs and pipeline constraints. Can Chevron’s $13.8B Vaca Muerta Bet Fuel Long-Term Growth?
• Neutral Sentiment: Chevron plans to double production in Venezuela, offering potential volume growth but exposing the company to political and investment risks. The article notes ExxonMobil’s reluctance to return after past asset seizures and flags uncertainty around long-term oil demand. Chevron Is Doubling Venezuela Production. ExxonMobil Says It’s Not in a Rush.
• Negative Sentiment: Oil prices fell to their lowest since August after President Trump said the Iran war was effectively over. Lower crude prices can weigh on Chevron’s earnings outlook; however, the report says there was no signed deal and Iran denied talks, leaving the situation uncertain. Oil Prices Just Fell to Their Lowest Since August

Chevron Stock Up 0.2%

Shares of NYSE:CVX opened at $211.15 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.07. The stock has a market cap of $414.99 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 0.49 and a beta of 0.47. The company has a 50 day moving average of $215.19 and a 200-day moving average of $194.85. Chevron Corporation has a one year low of $146.49 and a one year high of $236.48.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 earnings per share 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 14.49%. The business had revenue of $65.24 billion for the quarter, compared to analyst estimates of $61.82 billion. During the same period in the prior year, the business posted $1.85 earnings per share. Chevron’s revenue was up 36.3% compared to the same quarter last year. On average, sell-side analysts forecast that Chevron Corporation will post 18.56 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, November 18th. Chevron’s payout ratio is currently 52.08%.

Analyst Ratings Changes

A number of research analysts recently issued reports on CVX shares. Wall Street Zen raised Chevron from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Mizuho set a $234.00 price target on shares of Chevron in a research report on Monday, October 12th. Wells Fargo & Company increased their price objective on shares of Chevron from $230.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. UBS Group raised their price objective on shares of Chevron from $235.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, November 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Chevron from $190.00 to $222.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $221.88.

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.