MFF Capital Investments Ltd Buys New Shares in Chevron Corporation $CVX

MFF Capital Investments Ltd bought a new position in shares of Chevron Corporation (NYSE:CVX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 35,000 shares of the oil and gas company’s stock, valued at approximately $7,147,000. Chevron makes up about 0.5% of MFF Capital Investments Ltd’s holdings, making the stock its 17th largest holding.

A number of other large investors have also recently added to or reduced their stakes in CVX. State Street Corp increased its holdings in shares of Chevron by 3.9% in the second 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 buying an additional 5,998,852 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Chevron during the 2nd quarter worth $25,663,729,000. Bank of America Corp DE boosted its stake in shares of Chevron by 5.1% during the 1st 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 acquiring an additional 1,334,976 shares in the last quarter. Amundi boosted its stake in shares of Chevron by 3.0% during the 1st quarter. Amundi now owns 12,185,436 shares of the oil and gas company’s stock worth $2,521,166,000 after acquiring an additional 349,416 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Chevron in the 2nd quarter worth $2,378,114,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 0.2%

Shares of Chevron stock 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 firm 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. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $236.48. The stock has a 50-day simple moving average of $215.19 and a 200-day simple moving average of $194.85.

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, beating analysts’ consensus estimates of $4.87 by $0.41. The business 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%. Chevron’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.85 EPS. On average, equities research analysts expect that Chevron Corporation will post 18.56 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be given 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 3.4%. Chevron’s dividend payout ratio is presently 52.08%.

Key Stories Impacting Chevron

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVX. HSBC set a $90.00 target price on Chevron in a report on Friday, September 25th. Argus upped their target price on Chevron from $206.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Morgan Stanley increased their price target on Chevron from $226.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. Bank of America lifted their price target on Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, Wells Fargo & Company boosted their price objective on Chevron from $230.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. One investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average target price of $221.88.

Insiders Place Their Bets

In other Chevron news, insider Andrew Walz sold 16,800 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the transaction, the insider owned 14 shares in the company, valued at $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Wirth sold 317,100 shares of the business’s stock in a transaction on Friday, August 14th. The stock was 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 of the company’s stock, valued at $5,273,701.68. The trade was a 92.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 379,470 shares of company stock valued at $77,216,415 over the last 90 days. 0.56% of the stock is currently owned by company insiders.

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.