Chevron Corporation $CVX Stock Acquired by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management grew its position in shares of Chevron Corporation (NYSE:CVX) by 64.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 9,787 shares of the oil and gas company’s stock after acquiring an additional 3,849 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Chevron were worth $1,999,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Perryman Financial Advisory Inc. AD boosted its holdings in shares of Chevron by 4.2% in the 3rd quarter. Perryman Financial Advisory Inc. AD now owns 6,894 shares of the oil and gas company’s stock worth $1,408,000 after purchasing an additional 281 shares in the last quarter. Merrion Investment Management Co LLC raised its holdings in shares of Chevron by 10.8% during the 3rd quarter. Merrion Investment Management Co LLC now owns 4,831 shares of the oil and gas company’s stock valued at $987,000 after buying an additional 470 shares in the last quarter. Shelton Wealth Management LLC purchased a new position in shares of Chevron during the 3rd quarter valued at about $225,000. Pension & Wealth Management Advisors Inc. raised its holdings in shares of Chevron by 103.6% during the 3rd quarter. Pension & Wealth Management Advisors Inc. now owns 4,760 shares of the oil and gas company’s stock valued at $1,033,000 after buying an additional 2,422 shares in the last quarter. Finally, Howard Capital Management LLC raised its holdings in shares of Chevron by 181.7% during the 3rd quarter. Howard Capital Management LLC now owns 57,675 shares of the oil and gas company’s stock valued at $11,875,000 after buying an additional 37,202 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of several research reports. Argus upped their target price on Chevron from $206.00 to $211.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. BNP Paribas Exane decreased their price target on shares of Chevron from $230.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Jefferies Financial Group lifted their price target on shares of Chevron from $216.00 to $233.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Zacks Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, Raymond James Financial cut their price objective on shares of Chevron from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $213.42.

Insider Buying and Selling

In related news, insider R. Pate sold 2,470 shares of Chevron stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the transaction, the insider directly owned 10,794 shares of the company’s stock, valued at $2,213,957.34. The trade was a 18.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hess sold 100,000 shares of the company’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 owned 178,045 shares of the company’s stock, valued at $34,587,021.70. This represents a 35.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,152,582 shares of company stock worth $225,853,661. 0.56% of the stock is owned by company insiders.

Chevron Trading Up 2.6%

Shares of CVX stock opened at $225.00 on Friday. The stock has a market capitalization of $444.55 billion, a PE ratio of 21.57, a P/E/G ratio of 0.61 and a beta of 0.53. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $225.31. The business has a 50-day moving average of $207.58 and a 200 day moving average of $193.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) 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 return on equity of 11.09% and a net margin of 9.57%. Chevron’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period last year, the company earned $1.77 EPS. As a group, sell-side analysts anticipate that Chevron Corporation will post 17.71 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders 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 annualized dividend and a yield of 3.2%. Chevron’s payout ratio is presently 68.26%.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Morgan Stanley raised its Chevron price target to $226 from $218 and assigned an “overweight” rating, while Wells Fargo reportedly initiated or reiterated a “buy” recommendation. These upgrades reinforce bullish sentiment, although Morgan Stanley’s revised target implies limited additional upside from current levels. Morgan Stanley raises Chevron price target
• Positive Sentiment: Chevron was selected as a relative-strength stock by Zacks, reflecting strong recent price performance and improving earnings estimates. The company is also receiving attention as a long-term and dividend-oriented investment, which may attract additional income-focused investors. Zacks relative strength stock picks
• Positive Sentiment: Wall Street expects a sharp year-over-year increase in Chevron’s third-quarter earnings, with results due by the end of October. Anticipation of stronger profits is helping sustain interest ahead of the report. Chevron earnings expectations
• Neutral Sentiment: Diamond Hill Capital highlighted Chevron in its third-quarter investor letter after its large-cap strategy outperformed the Russell 1000 Value Index. The item indicates institutional interest but does not represent a new company announcement or change in fundamentals. Diamond Hill Chevron investment discussion
• Negative Sentiment: CEO Mike Wirth warned that commercial inventories, emergency reserves and previously sanctioned oil supplies have been depleted following the Iran-related shock. While tighter supply could support crude prices and Chevron’s upstream revenue, it also raises geopolitical, refining and diesel-price risks. Chevron CEO warns oil buffers are depleted

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.