Fulton Bank N.A. Sells 4,468 Shares of Chevron Corporation $CVX

Fulton Bank N.A. lessened its stake in Chevron Corporation (NYSE:CVX) by 9.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,020 shares of the oil and gas company’s stock after selling 4,468 shares during the quarter. Fulton Bank N.A.’s holdings in Chevron were worth $6,799,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Indivisible Partners purchased a new stake in shares of Chevron in the fourth quarter valued at $1,923,000. Janney Montgomery Scott LLC boosted its stake in shares of Chevron by 6.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock worth $258,853,000 after purchasing an additional 79,439 shares during the period. Galaxy Digital Inc. purchased a new position in shares of Chevron during the 1st quarter worth about $2,028,000. Nations Financial Group Inc. IA ADV grew its holdings in Chevron by 35.0% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 42,882 shares of the oil and gas company’s stock valued at $6,536,000 after purchasing an additional 11,120 shares during the last quarter. Finally, Osprey Private Wealth LLC grew its holdings in Chevron by 556.4% during the 4th quarter. Osprey Private Wealth LLC now owns 9,190 shares of the oil and gas company’s stock valued at $1,401,000 after purchasing an additional 7,790 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 4.3%

Shares of NYSE:CVX opened at $194.57 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The firm has a market cap of $384.43 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 0.57 and a beta of 0.49. The stock’s 50-day moving average price is $182.55 and its two-hundred day moving average price is $186.14. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company’s revenue was up 57.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.77 EPS. On average, research analysts forecast that Chevron Corporation will post 15.86 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. Chevron’s dividend payout ratio is presently 68.26%.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 5,547 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total value of $1,037,289.00. Following the completion of the transaction, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $4,919,596. This represents a 17.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Hess sold 100,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the sale, the director directly owned 178,045 shares of the company’s stock, valued at approximately $34,587,021.70. The trade was a 35.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,196,212 shares of company stock valued at $231,819,366. Insiders own 0.56% of the company’s stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Renewed uncertainty around shipping through the Strait of Hormuz has pushed Brent crude back toward $89 per barrel. Higher oil prices typically benefit Chevron’s upstream business by increasing realized prices and operating cash flow. Chevron Stock Jumps 3.3% as Hormuz Doubts Lift Oil
• Positive Sentiment: Chevron’s second-quarter performance exceeded expectations, with earnings of $6.06 per share versus a $5.55 consensus estimate and revenue of $67.2 billion versus $62.72 billion expected. Record production, strong cash generation and operational execution are reinforcing investor confidence. CVX’s Q2 Earnings Beat
• Positive Sentiment: Hess acquisition synergies are reportedly ahead of schedule, supporting production growth through 2030, additional free cash flow and greater per-share accretion. Management has also reached its $3 billion annualized structural cost-reduction target six months early. Can Chevron’s Hess Synergies Extend Growth and Lift Cash Flow Further?
• Neutral Sentiment: Geopolitical tensions and possible changes to the Jones Act are keeping fuel-market conditions and crude prices volatile. This may support upstream profits but could also increase political pressure over gasoline prices. Why Trump’s Waiver of the Jones Act Is Unlikely To Lower Gas Prices
• Negative Sentiment: Analysts caution that commodity-price reversals, planned maintenance and execution risks could limit the rally despite Chevron’s strong results. Recent insider selling also presents a modest sentiment headwind. Chevron Stock Price Down After Insider Selling

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CVX shares. BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price on the stock in a research note on Friday, April 17th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a research note on Thursday, July 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. Finally, Scotiabank boosted their price objective on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.48.

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.