Chevron Corporation $CVX Stock Position Reduced by Adirondack Trust Co.

Adirondack Trust Co. lowered its position in shares of Chevron Corporation (NYSE:CVX) by 15.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 12,636 shares of the oil and gas company’s stock after selling 2,271 shares during the period. Adirondack Trust Co.’s holdings in Chevron were worth $2,580,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Chevron in the second quarter worth $25,663,729,000. Bank of New York Mellon Corp bought a new stake in shares of Chevron during the 2nd quarter valued at $2,378,114,000. Legal & General Group Plc purchased a new position in shares of Chevron during the 2nd quarter valued at $1,462,412,000. Berkshire Hathaway Inc lifted its stake in shares of Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after buying an additional 8,091,570 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Chevron during the 2nd quarter valued at $1,189,577,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of several recent analyst reports. Jefferies Financial Group upped their target price on shares of Chevron from $216.00 to $233.00 and gave the stock a “buy” rating in a report on Monday, August 17th. TD Cowen raised their price target on Chevron from $215.00 to $225.00 and gave the company a “hold” rating in a report on Monday. Bank of America raised their price target on Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. The Goldman Sachs Group lowered their price objective on Chevron from $240.00 to $228.00 and set a “buy” rating on the stock in a research report on Tuesday, September 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on Chevron from $190.00 to $222.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $213.08.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: An analyst upgrade helped support Chevron’s recent advance, reinforcing bullish sentiment around its earnings outlook and integrated energy model. Chevron Stock Jumps After Analyst Upgrade
• Positive Sentiment: Chevron is investing in Venezuela’s oil revival alongside BP and Halliburton. Increased production could provide a long-term growth opportunity as the United States seeks additional supply amid geopolitical disruptions. Venezuela Oil Revival
• Positive Sentiment: Chevron is restoring Gulf of Mexico operations after Hurricane Isaias, with facilities reportedly avoiding significant damage. A quick restart limits the risk of prolonged production losses. Chevron and Shell Gulf Production Recovery
• Positive Sentiment: Chevron’s technical expertise contributed to the first commercial gas production from Australia’s Beetaloo Basin, potentially strengthening future LNG supply and international growth. Beetaloo Gas Development
• Positive Sentiment: Erste Group raised its Chevron EPS forecasts for fiscal 2026 and 2027, while Zacks included CVX on its highest-rated income-stock list. Chevron’s diversified, integrated operations are also viewed as supportive of dividend resilience during oil-price downturns. Chevron Earnings Estimates

Chevron Price Performance

CVX traded up $4.17 during trading on Wednesday, hitting $221.90. 4,382,681 shares of the company traded hands, compared to its average volume of 10,421,020. The company has a market cap of $438.43 billion, a PE ratio of 21.29, a P/E/G ratio of 0.60 and a beta of 0.53. The stock’s 50-day simple moving average is $205.49 and its two-hundred day simple moving average is $193.13. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $222.09. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. The company had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. Chevron’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.77 EPS. As a group, sell-side analysts anticipate that Chevron Corporation will post 17.43 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Chevron’s dividend payout ratio is 68.26%.

Insider Transactions at Chevron

In other news, insider Andrew Walz sold 16,800 shares of the firm’s stock in a transaction dated 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 completion of 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, insider R. Pate sold 2,470 shares of Chevron stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total value of $506,621.70. Following the completion of the sale, the insider directly owned 10,794 shares in the company, valued at $2,213,957.34. This trade represents a 18.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,152,582 shares of company stock worth $225,853,661. 0.56% of the stock is currently owned by company insiders.

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.