2,768 Chevron Corporation $CVX Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC reduced its stake in shares of Chevron Corporation (NYSE:CVX) by 9.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,212 shares of the oil and gas company’s stock after selling 2,768 shares during the period. International Assets Investment Management LLC’s holdings in Chevron were worth $5,221,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Blue Capital Inc. bought a new position in Chevron in the 2nd quarter valued at $786,000. OneAscent Wealth Management LLC acquired a new position in shares of Chevron during the second quarter valued at $973,000. Global Retirement Partners LLC acquired a new position in shares of Chevron during the second quarter valued at $14,276,000. Greg Jennings LLC bought a new position in Chevron in the third quarter valued at about $1,314,000. Finally, Ferguson Wellman Capital Management Inc. raised its holdings in Chevron by 0.6% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company’s stock worth $186,182,000 after purchasing an additional 5,787 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Down 0.1%

Shares of NYSE CVX opened at $212.66 on Friday. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $236.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The stock has a market cap of $420.17 billion, a P/E ratio of 15.56, a P/E/G ratio of 0.50 and a beta of 0.47. The firm has a 50 day moving average price of $214.91 and a 200 day moving average price of $194.40.

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

Chevron Dividend Announcement

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

Insider Buying and Selling

In other Chevron news, insider R. Pate sold 40,700 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was 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 of the company’s stock, valued at approximately $1,992,480.15. The trade was a 82.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Andrew Walz sold 16,800 shares of the stock in a transaction dated 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 sale, the insider 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 SEC filing for this sale provides additional information. In the last quarter, insiders have sold 379,470 shares of company stock valued at $77,216,415. 0.56% of the stock is owned by company insiders.

Key Chevron News

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Sanford C. Bernstein upped their target price on shares of Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. The Goldman Sachs Group reissued a “buy” rating and set a $241.00 price target on shares of Chevron in a research note on Tuesday, October 20th. Freedom Broker raised shares of Chevron from a “sell” rating to a “hold” rating and set a $218.00 price target for the company in a research note on Thursday. TD Cowen increased their price objective on shares of Chevron from $215.00 to $225.00 and gave the company a “hold” rating in a report on Monday, October 12th. Finally, William Blair started coverage on shares of Chevron in a research note on Wednesday, October 28th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $221.88.

Chevron 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.