Provenance Wealth Advisors LLC Acquires 11,187 Shares of Chevron Corporation $CVX

Provenance Wealth Advisors LLC boosted its holdings in Chevron Corporation (NYSE:CVX) by 372.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,193 shares of the oil and gas company’s stock after purchasing an additional 11,187 shares during the period. Provenance Wealth Advisors LLC’s holdings in Chevron were worth $2,898,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CVX. One Day In July LLC increased its stake in shares of Chevron by 6.0% during the 3rd quarter. One Day In July LLC now owns 1,515 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 86 shares during the last quarter. Hughes Financial Services LLC raised its holdings in shares of Chevron by 6.4% in the 3rd quarter. Hughes Financial Services LLC now owns 1,379 shares of the oil and gas company’s stock worth $282,000 after purchasing an additional 83 shares during the period. TrinityBridge Ltd raised its holdings in shares of Chevron by 34.1% in the 3rd quarter. TrinityBridge Ltd now owns 27,801 shares of the oil and gas company’s stock worth $5,684,000 after purchasing an additional 7,065 shares during the period. Associated Banc Corp purchased a new position in Chevron in the third quarter valued at approximately $34,987,000. Finally, Putney Financial Group LLC purchased a new position in Chevron in the third quarter valued at approximately $133,000. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, insider Andrew Walz sold 16,800 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the transaction, the insider directly owned 14 shares of the company’s stock, valued at $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael K. 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 completion of the transaction, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 379,470 shares of company stock valued at $77,216,415 in the last 90 days. 0.56% of the stock is currently owned by company insiders.

More Chevron News

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 Stock Performance

NYSE CVX opened at $225.58 on Wednesday. The company’s 50 day moving average is $214.06 and its 200-day moving average is $193.68. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $236.48. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The firm has a market cap 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.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.87 by $0.41. The company had revenue of $65.24 billion for the quarter, compared to analysts’ expectations of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.64%. Chevron’s revenue was up 36.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.85 EPS. Sell-side analysts predict that Chevron Corporation will post 18.20 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. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $7.12 dividend on an annualized basis and a yield of 3.2%. Chevron’s payout ratio is presently 52.08%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. Piper Sandler increased their price objective on Chevron from $207.00 to $243.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. BNP Paribas Exane lowered their target price on Chevron from $230.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. UBS Group boosted their target price on Chevron from $235.00 to $265.00 and gave the company a “buy” rating in a research note on Monday. Bank of America upped their price target on Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Morgan Stanley increased their price target on Chevron from $226.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $222.04.

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.