Elevatus Welath Management Acquires 14,837 Shares of Chevron Corporation $CVX

Elevatus Welath Management boosted its stake in Chevron Corporation (NYSE:CVX) by 324.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,410 shares of the oil and gas company’s stock after purchasing an additional 14,837 shares during the period. Elevatus Welath Management’s holdings in Chevron were worth $3,014,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CVX. Perigon Wealth Management LLC lifted its position in shares of Chevron by 19.3% during the third quarter. Perigon Wealth Management LLC now owns 73,448 shares of the oil and gas company’s stock valued at $11,406,000 after purchasing an additional 11,875 shares in the last quarter. Brooklyn FI LLC bought a new stake in Chevron in the 3rd quarter worth about $431,000. New York State Teachers Retirement System increased its stake in Chevron by 15.3% in the 3rd quarter. New York State Teachers Retirement System now owns 1,620,231 shares of the oil and gas company’s stock valued at $251,606,000 after buying an additional 215,345 shares during the last quarter. Finemark National Bank & Trust increased its stake in Chevron by 40.3% in the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock valued at $8,779,000 after buying an additional 16,243 shares during the last quarter. Finally, Pictet North America Advisors SA bought a new position in shares of Chevron during the 3rd quarter worth approximately $5,662,000. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 320,700 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the sale, the chief executive officer directly owned 14,450 shares of the company’s stock, valued at $2,355,205.50. This represents a 95.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following 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 SEC filing for this sale provides additional information. Insiders have sold a total of 1,099,397 shares of company stock worth $196,196,468 over the last 90 days. 0.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research analyst reports. Zacks Research upgraded Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 23rd. Scotiabank reiterated a “sector perform” rating and set a $168.00 price target on shares of Chevron in a report on Friday, January 16th. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Morgan Stanley reduced their price objective on Chevron from $180.00 to $174.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $190.00 target price on shares of Chevron in a research report on Monday, February 2nd. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $178.95.

Chevron Trading Up 2.9%

NYSE:CVX opened at $191.73 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 stock has a market capitalization of $382.57 billion, a PE ratio of 28.79, a price-to-earnings-growth ratio of 1.87 and a beta of 0.67. The firm’s 50 day moving average is $175.61 and its 200 day moving average is $161.50. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $192.41.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share 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 business had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. During the same period in the prior year, the company earned $2.06 earnings per share. Chevron’s revenue was down 10.2% compared to the same quarter last year. Sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, February 17th. This is a positive change from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio is currently 106.91%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Oil prices climbed on escalating Strait of Hormuz risk and market concern over Middle East supply, which lifts revenue prospects for integrated producers like Chevron. The IEA to Release Record Amount of Oil From Reserves. Why Crude Prices Are Higher.
• Positive Sentiment: Chevron is reported to be closing in on major Venezuelan production deals alongside Shell — potential long?term volume upside if agreements are finalized. Chevron & Shell Eye Major Oil Deals to Revive Venezuela Output
• Positive Sentiment: Chevron was a top bidder in a U.S. Gulf of Mexico lease sale, signaling continued capital deployment into upstream capacity that could boost future production. BP, Chevron are top spenders at small US Gulf of Mexico oil and gas auction
• Positive Sentiment: Dividend and payout: Chevron paid a $1.78 quarterly dividend (a 4% increase), supporting demand from income?oriented investors. Chevron Pays $1.78 Dividend Today Backed by 39 Years of Unbroken Growth
• Neutral Sentiment: Macro and company rumors: reports of possible downstream or bolt?on interest (e.g., Brazil/Ipiranga) and analyst chatter keep M&A speculation alive but nothing definitive yet. Ultrapar Clarifies Media Report on Possible Chevron Deal for Ipiranga Stake
• Neutral Sentiment: Market volatility is the dominant driver — rapid swings tied to geopolitical headlines and mixed government statements are amplifying day?to?day moves for CVX. Here’s Why Oil Prices Are Surging Right Now
• Negative Sentiment: U.S. political discussion of tapping the Strategic Petroleum Reserve to lower consumer energy costs (Trump comments) could cap oil prices and pressure integrated producers’ near?term margins. Iran war: Trump says he’ll tap Strategic Petroleum Reserve to cut energy costs
• Negative Sentiment: Insider selling: a recent SEC filing shows a senior Chevron insider sold shares (~47,200 at ~$192) — some investors view such sales as a cue to reduce exposure. SEC Form 4 — Insider Sale
• Negative Sentiment: De?escalation headlines (expectations of a quick end to the Iran conflict) have previously triggered sharp crude pullbacks that pressured CVX after recent gains — reinforces downside risk on positive news fades. ExxonMobil and Chevron tumble as Trump predicts swift end to Iran conflict

About Chevron

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.