Chevron Corporation $CVX Position Raised by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management increased its stake in Chevron Corporation (NYSE:CVX) by 64.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 9,787 shares of the oil and gas company’s stock after buying an additional 3,849 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Chevron were worth $1,999,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Blue Capital Inc. purchased a new stake in shares of Chevron during the 2nd quarter worth approximately $786,000. OneAscent Wealth Management LLC bought a new stake in shares of Chevron in the 2nd quarter worth approximately $973,000. Global Retirement Partners LLC bought a new stake in shares of Chevron in the 2nd quarter worth approximately $14,276,000. Ferguson Wellman Capital Management Inc. lifted its stake in Chevron by 0.6% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company’s stock valued at $186,182,000 after purchasing an additional 5,787 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Chevron by 6.8% in the first quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock valued at $258,853,000 after purchasing an additional 79,439 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Mizuho set a $234.00 price objective on Chevron in a report on Monday, October 12th. Wall Street Zen raised Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. UBS Group boosted their target price on Chevron from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 8th. Jefferies Financial Group boosted their target price on Chevron from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Finally, Raymond James Financial dropped their price target on Chevron from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $213.42.

Chevron Stock Performance

NYSE:CVX opened at $225.00 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $225.31. The firm has a market cap of $444.55 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 0.61 and a beta of 0.53. The business’s fifty day moving average is $207.58 and its 200 day moving average is $193.51.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%. The business had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. During the same quarter in the prior year, the firm posted $1.77 EPS. The firm’s quarterly revenue was up 57.4% on a year-over-year basis. Research analysts predict that Chevron Corporation will post 17.71 EPS for the current year.

Chevron Dividend Announcement

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

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Morgan Stanley raised its Chevron price target to $226 from $218 and assigned an “overweight” rating, while Wells Fargo reportedly initiated or reiterated a “buy” recommendation. These upgrades reinforce bullish sentiment, although Morgan Stanley’s revised target implies limited additional upside from current levels. Morgan Stanley raises Chevron price target
• Positive Sentiment: Chevron was selected as a relative-strength stock by Zacks, reflecting strong recent price performance and improving earnings estimates. The company is also receiving attention as a long-term and dividend-oriented investment, which may attract additional income-focused investors. Zacks relative strength stock picks
• Positive Sentiment: Wall Street expects a sharp year-over-year increase in Chevron’s third-quarter earnings, with results due by the end of October. Anticipation of stronger profits is helping sustain interest ahead of the report. Chevron earnings expectations
• Neutral Sentiment: Diamond Hill Capital highlighted Chevron in its third-quarter investor letter after its large-cap strategy outperformed the Russell 1000 Value Index. The item indicates institutional interest but does not represent a new company announcement or change in fundamentals. Diamond Hill Chevron investment discussion
• Negative Sentiment: CEO Mike Wirth warned that commercial inventories, emergency reserves and previously sanctioned oil supplies have been depleted following the Iran-related shock. While tighter supply could support crude prices and Chevron’s upstream revenue, it also raises geopolitical, refining and diesel-price risks. Chevron CEO warns oil buffers are depleted

Insider Activity

In other news, Director John B. Hess sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the transaction, the director directly owned 178,045 shares in the company, valued at approximately $34,587,021.70. This trade represents a 35.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R. Pate sold 2,470 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total transaction of $506,621.70. Following the transaction, the insider directly owned 10,794 shares of the company’s stock, valued at approximately $2,213,957.34. This represents a 18.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,152,582 shares of company stock valued at $225,853,661. Corporate insiders own 0.56% of the company’s stock.

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.