Chevron Corporation $CVX Shares Sold by IFP Advisors Inc

IFP Advisors Inc lessened its stake in shares of Chevron Corporation (NYSE:CVX) by 12.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 47,916 shares of the oil and gas company’s stock after selling 6,877 shares during the quarter. IFP Advisors Inc’s holdings in Chevron were worth $7,441,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CVX. Decker Retirement Planning Inc. purchased a new position in shares of Chevron during the third quarter worth $34,000. Vermillion & White Wealth Management Group LLC raised its holdings in shares of 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 buying an additional 118 shares during the period. Marquette Asset Management LLC purchased a new stake in shares of Chevron in the 3rd quarter valued at $41,000. Barnes Dennig Private Wealth Management LLC boosted its holdings in Chevron by 306.1% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 202 shares during the period. Finally, Turning Point Benefit Group Inc. purchased a new position in Chevron during the 3rd quarter valued at about $49,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Progress on new upstream opportunities — Chevron is reported to be pursuing a deal in Venezuela that could meaningfully expand production if completed; this would be a long?term growth lever for CVX. Could an Oil Deal in Venezuela Boost Chevron’s Stock?
• Positive Sentiment: Downstream expansion in Brazil — CVX is in advanced talks to buy a ~30% stake in Ultrapar’s Ipiranga retail unit, which would boost retail and refining exposure in a fast?growing market. Chevron in Advanced Negotiations to Buy 30% Stake in Ipiranga
• Positive Sentiment: Analyst support and price-target lifts — Mizuho raised its target and flagged an outperform view; Barclays also published a bullish forecast, both supporting upside to the shares. Mizuho price-target raise / Benzinga Barclays Forecasts Strong Price Appreciation for Chevron
• Positive Sentiment: Dividend durability and fund inclusion — Chevron extended its long dividend-growth streak and remains a core holding in high?yield/dividend funds, supporting investor demand for the stock. Is Chevron Balancing Dividend Strength With Rising Geopolitical Risk?
• Neutral Sentiment: Macro/commodity attention — Retail and analyst interest has CVX trending; Zacks and other outlets summarized fundamentals and positioning but offered no new catalyst beyond market interest. Chevron Is a Trending Stock (Zacks)
• Neutral Sentiment: Oil-price drivers — Rising WTI/Brent on Strait of Hormuz shipping uncertainty supports oil majors generally but also raises volatility risk; this is a market tailwind for CVX earnings but not company?specific. Oil jumps over 2% as doubts linger over U.S.-backed plan to protect Strait of Hormuz shipping
• Negative Sentiment: Reputational/regulatory risk — WSJ reporting about past dealings involving an ex?Chevron executive with U.S. intelligence raises governance and reputational questions that could attract regulatory or political scrutiny. Takeaways From WSJ Reporting on the CIA’s Dealings With an Ex-Chevron Executive
• Negative Sentiment: Compliance settlement — Chevron recently agreed to a settlement related to invalid renewable fuel credits; while not huge on the numbers, such items add headline risk and could affect ESG-focused investors. Is Chevron Balancing Dividend Strength With Rising Geopolitical Risk?

Analyst Upgrades and Downgrades

Several research firms have recently commented on CVX. Scotiabank reissued a “sector perform” rating and issued a $168.00 price objective on shares of Chevron in a research note on Friday, January 16th. JPMorgan Chase & Co. upgraded shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 target price on the stock in a report on Tuesday, January 20th. Argus set a $203.00 price target on shares of Chevron in a research report on Tuesday, February 3rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $190.00 price objective on shares of Chevron in a research report on Monday, February 2nd. Finally, Barclays boosted their target price on Chevron from $172.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Monday. Thirteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $183.18.

Chevron Price Performance

Chevron stock opened at $198.54 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $179.68 and a 200-day simple moving average of $162.85. The stock has a market cap of $396.16 billion, a P/E ratio of 29.81, a price-to-earnings-growth ratio of 1.83 and a beta of 0.67. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $200.73.

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

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were paid a dividend of $1.78 per share. The ex-dividend date was Tuesday, February 17th. This is a positive change from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a yield of 3.6%. Chevron’s dividend payout ratio (DPR) is presently 106.91%.

Insider Activity at Chevron

In related news, insider R. Hewitt Pate sold 47,200 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $192.12, for a total value of $9,068,064.00. Following the completion of the sale, the insider directly owned 8,558 shares of the company’s stock, valued at $1,644,162.96. The trade was a 84.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the transaction, the insider owned 11,337 shares of the company’s stock, valued at $2,130,449.04. This represents a 92.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,099,397 shares of company stock valued at $196,196,468 in the last quarter. Company insiders own 0.21% of the company’s stock.

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.