Chevron Corporation $CVX Shares Acquired by Asset One Wealth Management LLC

Asset One Wealth Management LLC increased its position in Chevron Corporation (NYSE:CVX) by 56.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,559 shares of the oil and gas company’s stock after purchasing an additional 5,282 shares during the quarter. Asset One Wealth Management LLC’s holdings in Chevron were worth $2,973,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Main Street Group LTD bought a new position in shares of Chevron during the first quarter valued at $28,000. Kilter Group LLC bought a new stake in shares of Chevron during the second quarter valued at approximately $28,000. Principia Wealth Advisory LLC grew its position in shares of Chevron by 49.6% during the 2nd quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 60 shares during the period. Financial Connections Group Inc. boosted its stake in Chevron by 129.3% during the first quarter. Financial Connections Group Inc. now owns 211 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 119 shares during the period. Finally, Legacy Wealth Managment LLC ID lifted its position in Chevron by 81.8% in the first quarter. Legacy Wealth Managment LLC ID now owns 220 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was upgraded by Freedom Broker from “sell” to “hold,” with a $218 price target. The change signals less bearishness, though the target implies only modest upside from the cited share price. Freedom Broker rating
• Positive Sentiment: Natural-gas production topped 9 billion cubic feet per day in the third quarter, supported by operations in Australia and the Eastern Mediterranean. Record output could strengthen Chevron’s position in the liquefied natural gas market, despite operational disruptions. Zacks article on gas production
• Positive Sentiment: Recent coverage points to record cash flow and a run of earnings beats as reasons to consider CVX for the long term. Chevron’s latest reported quarter also exceeded analyst expectations for earnings and revenue, supporting the fundamental case. 247WallSt analysis
• Neutral Sentiment: An executive reported selling 24,439 shares in an option exercise-and-sale transaction. The report alone does not establish a change in the company’s outlook. Insider transaction report
• Negative Sentiment: Coverage says a post-election political shift sent oil prices lower, dragging energy stocks, including Chevron. A separate analyst downgrade also contributed to reported share-price pressure, highlighting sensitivity to oil-market expectations and cautious ratings. Report on analyst downgrade

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction 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 completion of the sale, the chief executive officer directly 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 SEC, which can be accessed through the SEC website. Also, insider Andrew Walz sold 16,800 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the sale, the insider directly owned 14 shares of the company’s stock, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 379,470 shares of company stock valued at $77,216,415. Company insiders own 0.56% of the company’s stock.

Chevron Stock Down 0.1%

Shares of NYSE CVX opened at $212.66 on Friday. The company has a market cap of $420.17 billion, a P/E ratio of 15.56, a PEG ratio of 0.54 and a beta of 0.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The firm has a 50-day simple moving average of $214.91 and a two-hundred day simple moving average of $194.40. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $236.48.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.87 by $0.41. The business had revenue of $65.24 billion during the quarter, compared to analysts’ expectations of $61.82 billion. Chevron had a return on equity of 14.64% and a net margin of 11.56%. The company’s revenue was up 36.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.85 EPS. Research analysts anticipate that Chevron Corporation will post 18.56 earnings per share for the current year.

Chevron Dividend Announcement

The company 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 $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, November 18th. Chevron’s payout ratio is presently 52.08%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVX. TD Cowen increased their price target on Chevron from $215.00 to $225.00 and gave the stock a “hold” rating in a research note on Monday, October 12th. 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 price objective on shares of Chevron in a research report on Monday, October 12th. Wells Fargo & Company lifted their price objective on Chevron from $230.00 to $268.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Royal Bank Of Canada increased their target price on shares of Chevron from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, September 24th. 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 currently has an average rating of “Moderate Buy” and a consensus price target 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.