Chevron Corporation $CVX Shares Sold by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC cut its stake in shares of Chevron Corporation (NYSE:CVX) by 3.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,571 shares of the oil and gas company’s stock after selling 2,861 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Chevron were worth $15,341,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Veracity Capital LLC lifted its holdings in shares of Chevron by 40.8% during the third quarter. Veracity Capital LLC now owns 9,766 shares of the oil and gas company’s stock worth $1,994,000 after purchasing an additional 2,832 shares during the period. Tactive Advisors LLC acquired a new stake in Chevron during the 3rd quarter valued at approximately $201,000. New Covenant Trust Company N.A. lifted its stake in Chevron by 3.4% during the 3rd quarter. New Covenant Trust Company N.A. now owns 1,873 shares of the oil and gas company’s stock valued at $382,000 after acquiring an additional 62 shares during the period. Quintet Private Bank Europe S.A. boosted its holdings in shares of Chevron by 51.9% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 214,947 shares of the oil and gas company’s stock valued at $43,894,000 after acquiring an additional 73,481 shares during the last quarter. Finally, Toth Financial Advisory Corp increased its stake in shares of Chevron by 7.2% in the third quarter. Toth Financial Advisory Corp now owns 5,441 shares of the oil and gas company’s stock worth $1,124,000 after acquiring an additional 364 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CVX shares. Argus upped their price target on shares of Chevron from $206.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. BNP Paribas Exane lowered their target price on Chevron from $230.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Dbs Bank raised Chevron to a “moderate buy” rating in a report on Thursday, August 6th. Morgan Stanley upped their price objective on Chevron from $210.00 to $218.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Finally, Zacks Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $210.24.

Insider Activity at Chevron

In related news, CEO Michael Wirth sold 317,100 shares of Chevron stock in a transaction on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the sale, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Hess sold 100,000 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,152,582 shares of company stock worth $225,853,661 over the last 90 days. 0.56% of the stock is owned by insiders.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Bakken restructuring could improve returns: Chevron is transferring its Hess Midstream interests and DJ Basin midstream assets in exchange for revised Bakken agreements. The deal is expected to cut Chevron’s Bakken midstream costs by roughly 50%, remove associated debt exposure and extend contracts through 2045. Analysts say the changes could strengthen cash flow and return on capital, despite an estimated $3 billion-$4 billion closing loss. Chevron’s Portfolio Reshaping Strategy to Unlock Stronger Returns
• Positive Sentiment: Bullish analyst sentiment: Zacks upgraded Chevron to “Strong Buy” and highlighted the company as its Bull of the Day, citing cash generation, rising estimates and shareholder returns. A separate outlook places a potential price target near $225. Chevron highlighted as Zacks Bull of the Day
• Positive Sentiment: Tight fuel markets support oil prices: Chevron CEO Mike Wirth said global oil and fuel inventories have become dangerously thin, particularly ahead of winter. The supply concerns and ongoing geopolitical volatility may support crude prices and energy-sector earnings. Chevron CEO issues warning on depleting oil reserves
• Neutral Sentiment: Gulf operations curtailed by storm: Chevron has shut in four operated Gulf of Mexico facilities and moved some personnel ashore, while five other facilities reportedly continue producing. Industrywide, roughly 512,000 barrels per day of Gulf output had been temporarily shut in. The disruption could support fuel prices, but it also reduces Chevron’s near-term production. Chevron Shuts In Four Gulf Facilities as Hurricane Isaias Nears
• Negative Sentiment: Transaction charge and execution risk: The Hess Midstream restructuring involves a substantial upfront accounting loss, while lower drilling activity in the Bakken could reduce throughput. Investors will weigh the near-term hit against the expected long-term cost savings. Chevron Is Offloading Hess Midstream and Taking a $3 Billion to $4 Billion Hit
• Negative Sentiment: Diesel export-policy uncertainty: Wirth warned that a U.S. diesel export ban would remove supply from global markets and worsen the energy crisis. Although the comments support Chevron’s position, any new restrictions could disrupt refining markets and increase policy risk. Chevron CEO warns against diesel export ban

Chevron Price Performance

Shares of Chevron stock traded up $6.10 on Thursday, hitting $211.25. The company’s stock had a trading volume of 3,750,170 shares, compared to its average volume of 10,480,227. The company has a market capitalization of $417.39 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 0.58 and a beta of 0.53. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $217.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The firm has a fifty day moving average price of $203.83 and a 200-day moving average price of $192.87.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. The company had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.Chevron’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same period last year, the company earned $1.77 earnings per share. As a group, sell-side analysts anticipate that Chevron Corporation will post 17.47 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were given a dividend of $1.78 per share. The ex-dividend date was Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.4%. Chevron’s dividend payout ratio (DPR) is 68.26%.

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.