Chevron Corporation $CVX Stock: Fifth Third Bancorp Reduces Holdings

Fifth Third Bancorp lowered its position in Chevron Corporation (NYSE:CVX) by 1.2% during the third quarter, Holdings Channel.com reports. The fund owned 1,573,234 shares of the oil and gas company’s stock after selling 18,907 shares during the quarter. Fifth Third Bancorp’s holdings in Chevron were worth $321,270,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Gemmer Asset Management LLC increased its position in shares of 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 worth $869,000 after acquiring an additional 47 shares in the last quarter. Livet Wealth LLC grew its position in Chevron by 4.0% in 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. Uhlmann Price Securities LLC lifted its position in shares of Chevron by 3.1% during the third quarter. Uhlmann Price Securities LLC now owns 1,639 shares of the oil and gas company’s stock worth $335,000 after purchasing an additional 49 shares in the last quarter. First PREMIER Bank boosted its stake in shares of Chevron by 0.8% in the second quarter. First PREMIER Bank now owns 6,450 shares of the oil and gas company’s stock valued at $1,070,000 after purchasing an additional 50 shares during the period. Finally, Vanguard Capital Wealth Advisors increased 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 worth $467,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Key Stories Impacting Chevron

These are some of the CVX stories that stood out recently:

• Positive Sentiment: Chevron’s recent third-quarter results reportedly strengthened the earnings outlook, and the company reaffirmed its quarterly dividend. One valuation analysis argues the shares could be substantially undervalued, though that estimate depends on the model’s assumptions. Chevron Could Be 76% Below Fair Value As Q3 Earnings Reset Valuation
• Positive Sentiment: Chevron plans to invest $13.8 billion in Argentina’s Vaca Muerta shale region and aims to triple output there by 2035. Applying Permian expertise could support long-term production growth, if the company can manage high costs and pipeline constraints. Can Chevron’s $13.8B Vaca Muerta Bet Fuel Long-Term Growth?
• Neutral Sentiment: Dividend coverage highlights Chevron’s long record of annual increases—39 consecutive years—and its reaffirmed payout. That history may appeal to income investors, though comparisons with other dividend stocks do not by themselves indicate near-term earnings or share-price direction. Exxon vs. Chevron: Which Oil Dividend Wins the Next Decade?

Insider Activity at Chevron

In other Chevron news, insider Andrew Walz sold 16,800 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 14 shares of the company’s stock, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R. Pate sold 40,700 shares of the stock in a transaction that occurred 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 transaction, the insider owned 8,791 shares of the company’s stock, valued at $1,992,480.15. This trade represents a 82.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 379,470 shares of company stock worth $77,216,415 in the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVX. Wells Fargo & Company boosted their price target on Chevron from $230.00 to $268.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. The Goldman Sachs Group reissued a “buy” rating and set a $241.00 price objective on shares of Chevron in a report on Tuesday, October 20th. Wall Street Zen raised Chevron from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Freedom Broker upgraded Chevron from a “sell” rating to a “hold” rating and set a $218.00 price objective on the stock in a research note on Thursday, November 5th. Finally, Barclays increased their target price on shares of Chevron from $208.00 to $244.00 and gave the stock an “equal weight” rating in a report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $221.88.

Chevron Stock Performance

CVX opened at $213.21 on Thursday. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $236.48. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.16. The stock has a market cap of $419.05 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 0.49 and a beta of 0.47. The business’s 50 day moving average is $215.23 and its 200-day moving average is $195.08.

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 the consensus estimate of $4.87 by $0.41. Chevron had a return on equity of 14.49% and a net margin of 11.56%. The firm had revenue of $65.24 billion for the quarter, compared to the consensus estimate of $61.82 billion. During the same quarter in the previous year, the business earned $1.85 EPS. The firm’s revenue for the quarter was up 36.3% on a year-over-year basis. On average, analysts predict that Chevron Corporation will post 18.64 earnings per share for the current year.

Chevron Dividend Announcement

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

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.