Central Bank & Trust Co. Boosts Stock Holdings in Chevron Corporation $CVX

Central Bank & Trust Co. boosted its stake in Chevron Corporation (NYSE:CVX) by 30.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,359 shares of the oil and gas company’s stock after buying an additional 2,438 shares during the period. Central Bank & Trust Co.’s holdings in Chevron were worth $2,115,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Midwest Capital Advisors LLC bought a new position in Chevron during the 1st quarter valued at $25,000. Main Street Group LTD bought a new stake in shares of Chevron during the 1st quarter worth $28,000. Phillip James Consulting Co. purchased a new position in Chevron in the 4th quarter worth about $26,000. Kilter Group LLC purchased a new position in shares of Chevron in the second quarter worth approximately $28,000. Finally, Basso Capital Management L.P. purchased a new stake in shares of Chevron in the fourth quarter valued at $27,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Chevron news, insider Andrew Walz sold 16,800 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the transaction, the insider owned 14 shares in the company, valued at $2,814.84. This represents a 99.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hess sold 100,000 shares of Chevron stock in a transaction dated 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 transaction, the director owned 178,045 shares of the company’s stock, valued at $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. Over the last ninety days, insiders sold 1,152,582 shares of company stock worth $225,853,661. 0.56% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research analyst reports. Royal Bank Of Canada increased their price target on shares of Chevron from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, September 24th. Piper Sandler lifted their target price on shares of Chevron from $207.00 to $243.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Sanford C. Bernstein upped their price objective on shares of Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Zacks Research raised Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, TD Cowen boosted their price objective on shares of Chevron from $205.00 to $215.00 and gave the stock a “hold” rating in a research note on Monday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.24.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices support the stock. Crude oil moved above $92.60 amid concerns about Middle East supply disruptions, helping lift energy shares. UBS also raised its Chevron price target to $235. Why Is Chevron Stock Surging on Thursday?
• Positive Sentiment: Analyst support remains favorable. Piper Sandler maintained its Buy rating, while other recent research has highlighted Chevron’s cash generation, shareholder returns and potential for stronger returns from portfolio changes. Piper Sandler Sticks to Their Buy Rating for Chevron
• Positive Sentiment: The Hess Midstream restructuring could improve Chevron’s cost structure. Chevron is transferring its Hess Midstream interests and DJ Basin assets in exchange for revised Bakken contracts. The transaction is expected to reduce Bakken midstream costs by roughly 50%, eliminate approximately $3.7 billion of associated debt and simplify the portfolio. Chevron’s Portfolio Reshaping Strategy to Unlock Stronger Returns
• Neutral Sentiment: Analyst opinions are mixed. Although Piper Sandler remains bullish, broader coverage reflects differing views on Chevron and the energy sector, limiting the impact of any single rating. Analysts’ Opinions Are Mixed on Chevron
• Negative Sentiment: The restructuring carries a sizable near-term charge. Reports estimate Chevron could absorb a $3 billion–$4 billion closing loss, while Hess Midstream’s revised contracts indicate lower future volumes and earnings. Chevron Is Offloading Hess Midstream
• Negative Sentiment: Storm-related shutdowns create temporary operating risk. Chevron shut in four Gulf of Mexico facilities as Tropical Storm Isaias approached. The disruption may reduce near-term production, although tighter fuel markets and higher prices could partly offset the impact. Chevron Shuts In Four Gulf Facilities

Chevron Stock Up 0.7%

Shares of CVX stock traded up $1.41 on Friday, hitting $212.96. 2,288,987 shares of the stock were exchanged, compared to its average volume of 10,459,173. The business has a 50-day moving average of $204.21 and a 200 day moving average of $192.94. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $217.78. The firm has a market capitalization of $420.75 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 0.57 and a beta of 0.53.

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

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were given a $1.78 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.3%. Chevron’s payout ratio is 68.26%.

Chevron Company 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.