3,100 Chevron Corporation $CVX Shares Purchased by Jmac Enterprises LLC

Jmac Enterprises LLC lifted its stake in shares of Chevron Corporation (NYSE:CVX) by 104.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,074 shares of the oil and gas company’s stock after purchasing an additional 3,100 shares during the period. Jmac Enterprises LLC’s holdings in Chevron were worth $1,240,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Main Street Group LTD bought a new stake in Chevron during the 1st quarter valued at $28,000. Kilter Group LLC acquired a new stake in Chevron during the second quarter valued at approximately $28,000. Principia Wealth Advisory LLC lifted its position in shares of Chevron by 49.6% during the 2nd quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 60 shares during the last quarter. Strategic Wealth Advisors LLC acquired a new position in shares of Chevron in the 2nd quarter valued at $33,000. Finally, Burk Holdings LLC purchased a new stake in shares of Chevron in the 2nd quarter valued at approximately $42,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s third-quarter results were highlighted as strong, with refining strength and cost discipline supporting debt reduction and increased share buybacks. These actions may support shareholder returns. Why ExxonMobil and Chevron Reminded Investors to Keep it Simple
• Positive Sentiment: Chevron advanced talks on Iraq’s West Qurna 2 oilfield and is pursuing additional exploration opportunities, potentially expanding its upstream growth prospects. Chevron Advances Iraq Oilfield Deal, Expands Growth Prospects
• Negative Sentiment: Oil stocks, including Chevron, sold off after Democrats won the Senate in the midterm elections. The market reaction put pressure on the sector, rather than reflecting a newly reported problem at Chevron. Oil Stocks Take a Beating on Midterm Results
• Negative Sentiment: Commentary that oil’s price surge may have peaked—and that crude may not return to $100—added to concerns about future energy-sector earnings. The article also notes that a sudden geopolitical shock could reverse that outlook. What Election Night Could Mean for Energy Stocks

Chevron Price Performance

Shares of CVX stock opened at $216.94 on Thursday. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $236.48. The stock’s fifty day moving average is $214.40 and its 200-day moving average is $193.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The stock has a market capitalization of $428.63 billion, a PE ratio of 15.87, a PEG ratio of 0.53 and a beta of 0.47.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.87 by $0.41. The business had revenue of $65.24 billion for the quarter, compared to analyst estimates of $61.82 billion. Chevron had a return on equity of 14.64% and a net margin of 11.56%. The firm’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.85 earnings per share. Equities research analysts expect that Chevron Corporation will post 18.26 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, November 18th. Chevron’s payout ratio is 52.08%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVX. UBS Group upped their price objective on shares of Chevron from $235.00 to $265.00 and gave the company a “buy” rating in a research note on Monday. HSBC set a $90.00 price target on Chevron in a report on Friday, September 25th. Zacks Research raised Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Piper Sandler raised their price target on shares of Chevron from $207.00 to $243.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Finally, Royal Bank Of Canada raised their target price on Chevron from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $222.04.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 317,100 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew Walz sold 16,800 shares of Chevron stock in a transaction on 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 sale, the insider directly owned 14 shares of the company’s stock, valued at $2,814.84. This represents a 99.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 379,470 shares of company stock valued at $77,216,415 over the last ninety days. Insiders own 0.56% of the company’s stock.

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.