Chevron Corporation $CVX Stock Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. decreased its stake in Chevron Corporation (NYSE:CVX) by 49.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,061 shares of the oil and gas company’s stock after selling 39,606 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Chevron were worth $8,385,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its position in Chevron by 3.9% during the second quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock valued at $28,016,651,000 after acquiring an additional 5,998,852 shares in the last quarter. BlackRock Inc. acquired a new position in Chevron in the second quarter valued at approximately $25,663,729,000. Bank of America Corp DE boosted its position in Chevron by 5.1% in the 1st quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock worth $5,716,694,000 after purchasing an additional 1,334,976 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Chevron in the 2nd quarter worth approximately $2,378,114,000. Finally, Amundi boosted its position in Chevron by 14.1% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

NYSE:CVX opened at $211.15 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.34 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $236.48. The stock’s 50-day moving average price is $215.19 and its 200-day moving average price is $194.85. The stock has a market capitalization of $414.99 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 0.49 and a beta of 0.47.

Chevron (NYSE:CVX) last released 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 analysts’ expectations of $61.82 billion. Chevron had a return on equity of 14.49% and a net margin of 11.56%. Chevron’s quarterly revenue was up 36.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.85 EPS. As a group, equities analysts expect that Chevron Corporation will post 18.56 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 52.08%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Chevron from $190.00 to $222.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. BMO Capital Markets boosted their target price on shares of Chevron from $210.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Zacks Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Bank of America increased their price target on shares of Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Finally, William Blair started coverage on shares of Chevron in a research report on Wednesday, October 28th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $221.88.

Insider Buying and Selling at Chevron

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

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is selling QatarEnergy a 25% stake in its PEL82 offshore exploration license in Namibia. The deal shares exploration costs while Chevron retains control and exposure to potential discoveries. Chevron Expands Namibia Ties With QatarEnergy Offshore Stake Deal
• Positive Sentiment: Chevron is pursuing a $13.8 billion expansion in Argentina’s Vaca Muerta shale formation, aiming to triple its output there by 2035. Applying Permian expertise could support growth, though the plan faces high costs and pipeline constraints. Can Chevron’s $13.8B Vaca Muerta Bet Fuel Long-Term Growth?
• Neutral Sentiment: Chevron plans to double production in Venezuela, offering potential volume growth but exposing the company to political and investment risks. The article notes ExxonMobil’s reluctance to return after past asset seizures and flags uncertainty around long-term oil demand. Chevron Is Doubling Venezuela Production. ExxonMobil Says It’s Not in a Rush.
• Negative Sentiment: Oil prices fell to their lowest since August after President Trump said the Iran war was effectively over. Lower crude prices can weigh on Chevron’s earnings outlook; however, the report says there was no signed deal and Iran denied talks, leaving the situation uncertain. Oil Prices Just Fell to Their Lowest Since August

Chevron 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.