7,030 Chevron Corporation $CVX Shares Bought by Investment Partners LTD.

Investment Partners LTD. lifted its position in Chevron Corporation (NYSE:CVX) by 97.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 14,275 shares of the oil and gas company’s stock after acquiring an additional 7,030 shares during the period. Investment Partners LTD.’s holdings in Chevron were worth $2,915,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. State Street Corp boosted its holdings in 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 worth $28,016,651,000 after purchasing an additional 5,998,852 shares during the period. BlackRock Inc. bought a new stake in Chevron during the second quarter valued at $25,663,729,000. Bank of America Corp DE increased its stake in Chevron by 5.1% during the first quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock valued at $5,716,694,000 after purchasing an additional 1,334,976 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Chevron during the second quarter worth $2,378,114,000. Finally, Amundi raised its holdings in shares of Chevron by 14.1% during the second quarter. Amundi now owns 13,900,271 shares of the oil and gas company’s stock worth $2,304,109,000 after purchasing an additional 1,714,835 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 1.8%

Shares of NYSE:CVX opened at $235.62 on Friday. The firm has a fifty day moving average of $213.16 and a two-hundred day moving average of $193.07. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $236.48. The firm has a market capitalization of $465.53 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 0.56 and a beta of 0.53.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.87 by $0.41. The company had revenue of $65.24 billion during the quarter, compared to the consensus estimate of $61.82 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%. The business’s quarterly revenue was up 36.3% on a year-over-year basis. During the same period last year, the business earned $1.85 EPS. On average, equities analysts expect that Chevron Corporation will post 18.15 EPS for the current fiscal year.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 710,665 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total value of $137,940,076.50. Following the completion of the sale, the director directly owned 363,711 shares in the company, valued at approximately $70,596,305.10. This represents a 66.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider R. Pate sold 40,700 shares of the company’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 sale, the insider owned 8,791 shares of the company’s stock, valued at approximately $1,992,480.15. This trade represents a 82.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,195,682 shares of company stock worth $235,619,780. Corporate insiders own 0.56% of the company’s stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Quarterly earnings exceeded expectations. Chevron reported adjusted earnings of $5.28 per share, above the roughly $4.87-$4.89 analyst consensus, while revenue reached $65.24 billion versus estimates of $61.82 billion. Adjusted earnings of approximately $10.4 billion nearly tripled from a year earlier. Chevron tops Q3 expectations on higher downstream profit
• Positive Sentiment: Refining was the standout business. Downstream earnings climbed to nearly $4.9 billion from about $1.1 billion a year earlier as refinery outages and conflicts involving Iran and Russia reduced fuel supplies and lifted margins. Chevron beats earnings expectations as refining profits soar
• Positive Sentiment: Cash generation and the balance sheet improved. Chevron generated roughly $12 billion of free cash flow and $16 billion of operating cash flow, while reducing net debt by about $7.8 billion. This supports dividends, potential buybacks and future investment. Chevron’s profit nearly tripled from a year ago
• Neutral Sentiment: Analyst sentiment has become more constructive. One valuation estimate increased from $227.71 to $232.50, with higher oil-price assumptions, strong refining results and possible Venezuela-related upside supporting revised targets. However, the stock’s rally has reduced its dividend yield for new investors. Chevron stock fair value edges higher
• Negative Sentiment: Investors face risks beyond the strong quarter. Chevron warned that downtime could reduce fourth-quarter production by approximately 225,000 barrels of oil equivalent per day. In addition, refining profits may normalize if geopolitical disruptions ease, while the stock’s elevated valuation and lingering questions about buybacks could limit further upside. Chevron says downtime could hit Q4 output

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent research reports. BMO Capital Markets raised their price target on shares of Chevron from $210.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. Raymond James Financial cut their target price on shares of Chevron from $230.00 to $225.00 and set an “outperform” rating on the stock in a report on Tuesday, July 21st. Dbs Bank upgraded Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. Mizuho set a $234.00 price target on Chevron in a research note on Monday, October 12th. Finally, Sanford C. Bernstein raised their price objective 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. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $213.96.

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.