American National Bank & Trust Cuts Position in Chevron Corporation $CVX

American National Bank & Trust decreased its position in shares of Chevron Corporation (NYSE:CVX) by 5.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 88,640 shares of the oil and gas company’s stock after selling 4,688 shares during the quarter. Chevron comprises about 1.6% of American National Bank & Trust’s investment portfolio, making the stock its 18th largest holding. American National Bank & Trust’s holdings in Chevron were worth $18,101,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Worth Asset Management LLC boosted its position in Chevron by 358.3% during the 3rd quarter. Worth Asset Management LLC now owns 7,626 shares of the oil and gas company’s stock worth $1,557,000 after acquiring an additional 5,962 shares during the period. Crumly & Associates Inc. lifted its position in Chevron by 8.4% in the third quarter. Crumly & Associates Inc. now owns 4,279 shares of the oil and gas company’s stock worth $874,000 after purchasing an additional 330 shares during the period. First Community Trust NA raised its stake in shares of Chevron by 24.0% in the 3rd quarter. First Community Trust NA now owns 9,999 shares of the oil and gas company’s stock worth $2,048,000 after buying an additional 1,933 shares in the last quarter. Asempa Wealth Advisors acquired a new position in Chevron during the third quarter worth about $211,000. Finally, Weaver Consulting Group boosted its position in shares of Chevron by 2.8% during the 3rd quarter. Weaver Consulting Group now owns 8,616 shares of the oil and gas company’s stock valued at $1,759,000 after purchasing an additional 232 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Analyst upgrade supports sentiment. Zacks Research upgraded Chevron to “Strong Buy,” adding to recent favorable momentum ratings and potentially improving investor confidence. Chevron upgraded to Strong Buy at Zacks Research
• Positive Sentiment: Bakken restructuring should improve returns. Chevron agreed to divest its Hess Midstream stake and certain DJ Basin midstream interests while restructuring its Bakken contracts. The revised arrangements are expected to reduce Bakken transportation and processing costs by approximately 50%; Chevron will also receive a reported $200 million payment. Lower costs could support future earnings and return on capital. Chevron Bakken restructuring announcement
• Positive Sentiment: Oil-market conditions remain favorable. Chevron CEO Mike Wirth said oil and fuel supply buffers are thinning amid the prolonged Middle East conflict. Higher oil prices and tighter inventories could support Chevron’s upstream profitability, while energy ETFs are benefiting from the same backdrop. Oil and fuel supply buffers Reuters article
• Positive Sentiment: Exploration portfolio is expanding. Chevron increased its position in Namibia’s PEL 90 ahead of the Nabba-1X exploration well, signaling confidence in the acreage’s potential, although exploration outcomes remain uncertain. Chevron Namibia exploration update
• Neutral Sentiment: Diesel export-ban debate creates mixed implications. Wirth called a potential U.S. diesel export ban “unwise,” warning it could remove supply from global markets and worsen the energy crisis. Tighter supply might lift fuel prices and margins, but policy uncertainty and potential market disruption could weigh on sentiment. Chevron CEO diesel export warning
• Neutral Sentiment: Leadership changes add a succession focus. CFO Eimear Bonner is moving to lead Chevron’s core oil, products and gas operations, while Jeff Gustavson is expected to become CFO in January. The moves provide internal succession depth but may increase near-term attention on CEO succession.
• Negative Sentiment: Gulf storm preparations introduce operational risk. Chevron evacuated non-essential personnel from some Gulf of Mexico platforms as a tropical storm approached, raising the possibility of temporary production disruptions or additional weather-related costs. Chevron Gulf of Mexico storm preparations

Insider Activity

In other news, CEO Michael Wirth sold 317,100 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew Walz sold 16,800 shares of Chevron stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider owned 14 shares in the company, valued at approximately $2,814.84. This represents a 99.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,152,582 shares of company stock valued at $225,853,661. 0.56% of the stock is currently owned by company insiders.

Chevron Price Performance

CVX stock traded down $2.16 during midday trading on Wednesday, reaching $205.42. 2,617,090 shares of the company’s stock traded hands, compared to its average volume of 10,500,435. The company has a 50-day simple moving average of $203.56 and a two-hundred day simple moving average of $192.84. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The company has a market cap of $405.86 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 0.57 and a beta of 0.53. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $217.78.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating 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 firm had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same period last year, the company earned $1.77 EPS. The business’s quarterly revenue was up 57.4% compared to the same quarter last year. On average, analysts anticipate that Chevron Corporation will post 17.47 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were issued a dividend of $1.78 per share. The ex-dividend date was Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.5%. Chevron’s payout ratio is currently 68.26%.

Analyst Ratings Changes

CVX has been the subject of a number of recent research reports. Wolfe Research upgraded Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a research report on Thursday, July 2nd. Morgan Stanley raised their price objective on shares of Chevron from $210.00 to $218.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. JPMorgan Chase & Co. raised their target price on Chevron from $190.00 to $222.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Dbs Bank upgraded Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Finally, Argus lifted their target price on shares of Chevron from $206.00 to $211.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.87.

Chevron Company 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.