Wealth Enhancement Trust Services Inc. Sells 2,955 Shares of Chevron Corporation $CVX

Wealth Enhancement Trust Services Inc. cut its stake in Chevron Corporation (NYSE:CVX) by 12.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,540 shares of the oil and gas company’s stock after selling 2,955 shares during the period. Wealth Enhancement Trust Services Inc.’s holdings in Chevron were worth $4,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Blue Capital Inc. purchased a new stake in shares of Chevron in the second quarter valued at about $786,000. OneAscent Wealth Management LLC purchased a new position in Chevron during the second quarter worth about $973,000. Global Retirement Partners LLC acquired a new position in Chevron in the 2nd quarter valued at about $14,276,000. Ferguson Wellman Capital Management Inc. boosted its holdings in Chevron by 0.6% in the 3rd 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 grew its stake in shares of Chevron by 6.8% in the 1st 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 buying an additional 79,439 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is transferring its Hess Midstream ownership interests and DJ Basin midstream assets to simplify its portfolio and reduce Bakken midstream costs by approximately 50%. The revised contracts extend through 2045, which could improve future earnings, cash flow visibility and return on capital. Chevron to Divest its Ownership Interests in Hess Midstream and DJ Basin Crude Midstream Assets
• Positive Sentiment: The deal should strengthen Chevron’s Bakken economics by reducing transportation and processing expenses, eliminating roughly $3.7 billion of associated debt from its financial profile and allowing the company to focus on its core upstream operations. Chevron’s Portfolio Reshaping Strategy to Unlock Stronger Returns
• Positive Sentiment: Zacks upgraded Chevron to “Strong Buy,” while tighter global oil and fuel inventories and elevated crude prices provide a supportive backdrop for the integrated energy company. Chevron is also increasing its position in Namibia ahead of a potential exploration well, adding longer-term growth optionality. Chevron Upgraded to Strong-Buy at Zacks Research
• Neutral Sentiment: CEO Mike Wirth warned that a U.S. diesel-export ban could restrict global supply and raise domestic prices. The comments highlight potential fuel-market tightness but also expose Chevron to policy and geopolitical uncertainty. Chevron CEO Warns Against Unwise Diesel Export Ban
• Negative Sentiment: Investors are reacting to the restructuring charge and the possibility of lower Bakken production volumes as Chevron reduces its rig count. Chevron also evacuated non-essential workers from Gulf of Mexico platforms ahead of a possible storm, creating a temporary operational risk. Chevron Evacuates Some Workers From Gulf of Mexico Platforms

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. TD Cowen raised their target price on Chevron from $205.00 to $215.00 and gave the stock a “hold” rating in a research note on Monday, September 28th. Piper Sandler boosted their price objective on shares of Chevron from $207.00 to $243.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. Morgan Stanley upped their target price on shares of Chevron from $210.00 to $218.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Zacks Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Dbs Bank upgraded shares of Chevron to a “moderate buy” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $210.87.

Insider Activity

In other Chevron news, Director John Hess sold 710,665 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the transaction, the director owned 363,711 shares in the company, valued at $70,596,305.10. The trade was a 66.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew Walz sold 16,800 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the sale, the insider owned 14 shares in the company, valued at $2,814.84. The trade was a 99.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,152,582 shares of company stock worth $225,853,661 over the last three months. Insiders own 0.56% of the company’s stock.

Chevron Stock Down 1.1%

Shares of Chevron stock traded down $2.32 during trading hours on Wednesday, reaching $205.26. 5,731,028 shares of the company were exchanged, compared to its average volume of 10,517,426. The firm has a market cap of $405.55 billion, a PE ratio of 19.68, a PEG ratio of 0.57 and a beta of 0.53. 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 1 year low of $146.49 and a 1 year high of $217.78. The stock’s fifty day moving average is $203.83 and its 200 day moving average is $192.87.

Chevron (NYSE:CVX) last released its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $62.72 billion. During the same period in the previous year, the firm posted $1.77 EPS. Chevron’s revenue for the quarter was up 57.4% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Corporation will post 17.47 earnings per share for the current year.

Chevron Announces Dividend

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

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.