Chevron Corporation $CVX Shares Sold by Smith Chas P & Associates PA Cpas

Smith Chas P & Associates PA Cpas lessened its stake in Chevron Corporation (NYSE:CVX) by 23.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 12,646 shares of the oil and gas company’s stock after selling 3,891 shares during the period. Smith Chas P & Associates PA Cpas’ holdings in Chevron were worth $1,964,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CVX. Decker Retirement Planning Inc. purchased a new stake in shares of Chevron in the 3rd quarter valued at $34,000. Vermillion & White Wealth Management Group LLC grew its position in Chevron by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 118 shares in the last quarter. Marquette Asset Management LLC purchased a new stake in Chevron during the third quarter worth about $41,000. Barnes Dennig Private Wealth Management LLC lifted its position in shares of Chevron by 306.1% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 202 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA boosted its stake in shares of Chevron by 106.7% in the second quarter. LFA Lugano Financial Advisors SA now owns 310 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 160 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Morgan Stanley cut their price objective on Chevron from $180.00 to $174.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Freedom Capital lowered Chevron from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. TD Cowen boosted their target price on Chevron from $160.00 to $168.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Finally, Jefferies Financial Group increased their price target on Chevron from $174.00 to $189.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $178.95.

Insider Transactions at Chevron

In other news, insider R. Hewitt Pate sold 58,000 shares of Chevron stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $188.65, for a total transaction of $10,941,700.00. Following the sale, the insider owned 8,558 shares in the company, valued at approximately $1,614,466.70. The trade was a 87.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Eimear P. Bonner sold 32,100 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $175.01, for a total value of $5,617,821.00. Following the completion of the sale, the chief financial officer directly owned 4,366 shares of the company’s stock, valued at $764,093.66. The trade was a 88.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 628,373 shares of company stock worth $107,085,890. Insiders own 0.20% of the company’s stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Global oil/gas rally is boosting integrated energy stocks; higher commodity prices improve Chevron’s near-term margins and cash flow outlook. Read More.
• Positive Sentiment: Broker upgrades and higher price targets (Citigroup, Bank of America, Melius and others) signal renewed analyst conviction and support upside expectations. Read More.
• Positive Sentiment: Notable portfolio moves (including increased exposure in Berkshire’s final quarter) and positive coverage identifying CVX as a top oil pick are drawing investor interest. Read More.
• Neutral Sentiment: Analyst coverage is mixed overall: several buys and target lifts exist, but consensus includes many holds, which can limit sustained momentum. Read More.
• Negative Sentiment: Chevron declared force majeure and halted production at the Leviathan gas field amid regional hostilities — a direct operational disruption that can dent near-term volumes and revenue. Read More.
• Negative Sentiment: Substantial insider selling by R. Hewitt Pate (large blocks sold late Feb. and early Mar.; SEC filings) may amplify profit-taking and be viewed negatively by some investors. Read More.
• Negative Sentiment: Ongoing geopolitical risk (Iran threats, Strait of Hormuz disruptions) increases volatility and operational uncertainty even as higher oil tends to boost earnings for majors. Read More.

Chevron Trading Down 0.5%

NYSE:CVX opened at $188.56 on Wednesday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $191.56. The stock has a market cap of $376.25 billion, a P/E ratio of 28.31, a P/E/G ratio of 12.55 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15. The stock has a 50-day simple moving average of $171.08 and a 200-day simple moving average of $160.10.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.08. The firm had revenue of $45.79 billion during the quarter, compared to analysts’ expectations of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The firm’s revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.06 earnings per share. As a group, analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, February 17th. This is a positive change from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio (DPR) is currently 106.91%.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.