Chevron Corporation $CVX Position Boosted by Plancorp LLC

Plancorp LLC increased its stake in Chevron Corporation (NYSE:CVX) by 51.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,185 shares of the oil and gas company’s stock after acquiring an additional 7,216 shares during the quarter. Plancorp LLC’s holdings in Chevron were worth $4,326,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Gemmer Asset Management LLC increased its stake in Chevron by 1.1% in the third quarter. Gemmer Asset Management LLC now owns 4,254 shares of the oil and gas company’s stock valued at $869,000 after purchasing an additional 47 shares in the last quarter. Livet Wealth LLC increased its holdings in shares of Chevron by 4.0% during the third quarter. Livet Wealth LLC now owns 1,268 shares of the oil and gas company’s stock valued at $259,000 after acquiring an additional 49 shares in the last quarter. First PREMIER Bank raised its holdings in Chevron by 0.8% during the second quarter. First PREMIER Bank now owns 6,450 shares of the oil and gas company’s stock worth $1,070,000 after buying an additional 50 shares during the last quarter. Vanguard Capital Wealth Advisors boosted its stake in Chevron by 1.8% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 2,818 shares of the oil and gas company’s stock valued at $467,000 after purchasing an additional 50 shares during the last quarter. Finally, Nautilus Advisors LLC grew its holdings in Chevron by 2.8% during the third quarter. Nautilus Advisors LLC now owns 1,859 shares of the oil and gas company’s stock worth $380,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $240.00 price target on the stock. in a report on Tuesday. BMO Capital Markets increased their price target on shares of Chevron from $210.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, September 3rd. Bank of America raised their price objective on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Wall Street Zen raised shares of Chevron from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Dbs Bank upgraded shares of Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $221.88.

Chevron Price Performance

Shares of NYSE CVX traded down $0.27 during midday trading on Friday, hitting $212.66. 8,080,978 shares of the company’s stock were exchanged, compared to its average volume of 7,613,494. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $236.48. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The company has a market cap of $420.17 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 0.54 and a beta of 0.47. The business’s fifty day moving average price is $214.91 and its two-hundred day moving average price is $194.40.

Chevron (NYSE:CVX) last announced its earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.87 by $0.41. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The business had revenue of $65.24 billion for the quarter, compared to the consensus estimate of $61.82 billion. During the same period last year, the firm posted $1.85 earnings per share. Chevron’s quarterly revenue was up 36.3% on a year-over-year basis. As a group, research analysts forecast that Chevron Corporation will post 18.56 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be given a dividend of $1.78 per share. The ex-dividend date is Wednesday, November 18th. This represents a $7.12 annualized dividend and a dividend yield of 3.3%. Chevron’s dividend payout ratio (DPR) is 52.08%.

Insider Transactions at Chevron

In other news, insider R. Pate sold 40,700 shares of Chevron stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the completion of the sale, the insider directly owned 8,791 shares of the company’s stock, valued at approximately $1,992,480.15. The trade was a 82.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Andrew Walz sold 16,800 shares of the company’s 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 completion of the transaction, the insider owned 14 shares of the company’s stock, valued at $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 379,470 shares of company stock valued at $77,216,415. Insiders own 0.56% of the company’s stock.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was upgraded by Freedom Broker from “sell” to “hold,” with a $218 price target. The change signals less bearishness, though the target implies only modest upside from the cited share price. Freedom Broker rating
• Positive Sentiment: Natural-gas production topped 9 billion cubic feet per day in the third quarter, supported by operations in Australia and the Eastern Mediterranean. Record output could strengthen Chevron’s position in the liquefied natural gas market, despite operational disruptions. Zacks article on gas production
• Positive Sentiment: Recent coverage points to record cash flow and a run of earnings beats as reasons to consider CVX for the long term. Chevron’s latest reported quarter also exceeded analyst expectations for earnings and revenue, supporting the fundamental case. 247WallSt analysis
• Neutral Sentiment: An executive reported selling 24,439 shares in an option exercise-and-sale transaction. The report alone does not establish a change in the company’s outlook. Insider transaction report
• Negative Sentiment: Coverage says a post-election political shift sent oil prices lower, dragging energy stocks, including Chevron. A separate analyst downgrade also contributed to reported share-price pressure, highlighting sensitivity to oil-market expectations and cautious ratings. Report on analyst downgrade

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.