United Asset Strategies Inc. Reduces Position in Chevron Corporation $CVX

United Asset Strategies Inc. decreased its holdings in Chevron Corporation (NYSE:CVX) by 33.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,138 shares of the oil and gas company’s stock after selling 27,635 shares during the quarter. United Asset Strategies Inc.’s holdings in Chevron were worth $8,562,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVX. Kingstone Capital Partners Texas LLC boosted its stake in shares of Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after buying an additional 83,702,101 shares during the last quarter. Norges Bank bought a new stake in shares of Chevron in the second quarter worth $2,721,477,000. Laurel Wealth Advisors LLC increased its stake in shares of Chevron by 14,194.2% in the second quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock worth $532,984,000 after buying an additional 3,696,177 shares during the last quarter. Berkshire Hathaway Inc raised its holdings in Chevron by 2.9% in the second quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock valued at $17,478,458,000 after acquiring an additional 3,454,258 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Chevron by 4.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock valued at $4,979,255,000 after acquiring an additional 1,342,723 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Piper Sandler dropped their target price on shares of Chevron from $178.00 to $174.00 and set an “overweight” rating for the company in a research report on Thursday. Bank of America lowered their price objective on Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Citigroup cut their price objective on Chevron from $185.00 to $179.00 and set a “buy” rating on the stock in a research note on Monday. Hsbc Global Res upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Finally, Barclays lowered their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Chevron has an average rating of “Hold” and a consensus target price of $167.14.

Chevron Stock Up 2.6%

NYSE:CVX opened at $159.27 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average of $152.22 and a 200-day moving average of $153.31. The firm has a market capitalization of $320.70 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 9.72 and a beta of 0.70. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The business had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.48 EPS. Analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were given a dividend of $1.71 per share. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. Chevron’s dividend payout ratio is currently 96.20%.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is in advanced talks with the U.S. government to expand its Venezuela operating license — a move that would allow higher exports to Chevron’s refineries and to third parties, potentially boosting volumes and margins. Exclusive: Chevron in talks with US government for expanded Venezuela license, sources say
• Positive Sentiment: Shipping and field activity show operational acceleration: reports say Chevron has ramped tanker loadings and contracted multiple vessels for Venezuelan port calls — evidence it can scale exports quickly if the license expands. Chevron Is Loading Venezuela Oil Onto Tankers at the Fastest Pace in Months
• Positive Sentiment: Some sell-side views are constructive: Bernstein raised its target on Chevron as its oil outlook balances volatility and strength, supporting upside to the stock if higher Venezuela volumes materialize. Bernstein raises Chevron (CVX) target
• Neutral Sentiment: Not all flows are cleared: some loadings for traditional buyers (notably Chinese customers) have been paused, highlighting distribution and counterparty risks that could delay cash conversion of any export ramp. Chevron continues to ship Venezuelan oil, but loading on hold for Chinese buyers
• Neutral Sentiment: Senior U.S. officials and oil companies warn major investments in Venezuela will require government guarantees, implying large-scale redevelopment will be conditional and take time. US oil companies say they need guarantees to invest in Venezuela
• Negative Sentiment: Broker downgrade: Freedom Capital moved CVX to a “strong sell,” a headline that can pressure sentiment and trigger short-term selling. Chevron Cut to “Strong Sell” at Freedom Capital
• Negative Sentiment: Significant insider selling: filings show large sales by the CEO, CFO and other insiders in early January, which markets often interpret as a negative signal or near-term supply pressure. SEC Form 4 filings — insider sales
• Negative Sentiment: Political and reputational risk: high-profile criticism and scrutiny around U.S. plans for Venezuela increase execution and regulatory uncertainty for any rapid expansion. Elizabeth Warren comments on Venezuela plan

Insider Activity

In other news, insider Alana K. Knowles sold 7,956 shares of Chevron stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $165.05, for a total transaction of $1,313,137.80. Following the sale, the insider owned 1,207 shares of the company’s stock, valued at approximately $199,215.35. The trade was a 86.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John B. Hess sold 275,000 shares of Chevron stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the sale, the director directly owned 1,128,045 shares in the company, valued at $170,052,783.75. The trade was a 19.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 631,990 shares of company stock worth $99,716,808 in the last 90 days. 0.21% of the stock is currently owned by insiders.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.