Chevron Corporation $CVX Shares Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. boosted its position in shares of Chevron Corporation (NYSE:CVX) by 13.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 345,945 shares of the oil and gas company’s stock after acquiring an additional 41,260 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Chevron were worth $70,704,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Provenance Wealth Advisors LLC raised its stake in shares of Chevron by 372.2% in the third quarter. Provenance Wealth Advisors LLC now owns 14,193 shares of the oil and gas company’s stock valued at $2,898,000 after acquiring an additional 11,187 shares in the last quarter. One Day In July LLC grew its stake in Chevron by 6.0% during the 3rd quarter. One Day In July LLC now owns 1,515 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 86 shares in the last quarter. Hughes Financial Services LLC grew its stake in Chevron by 6.4% during the 3rd quarter. Hughes Financial Services LLC now owns 1,379 shares of the oil and gas company’s stock worth $282,000 after purchasing an additional 83 shares in the last quarter. TrinityBridge Ltd increased its holdings in Chevron by 34.1% during the 3rd quarter. TrinityBridge Ltd now owns 27,801 shares of the oil and gas company’s stock worth $5,684,000 after purchasing an additional 7,065 shares during the period. Finally, Associated Banc Corp purchased a new stake in Chevron during the 3rd quarter worth about $34,987,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on CVX. Wall Street Zen raised Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Sanford C. Bernstein boosted their price objective on Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. upped their target price on shares of Chevron from $190.00 to $222.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Morgan Stanley raised their target price on shares of Chevron from $226.00 to $230.00 and gave the company an “overweight” rating in a report on Monday. Finally, Weiss Ratings downgraded shares of Chevron from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.04.

Chevron Stock Performance

NYSE:CVX opened at $225.58 on Wednesday. The firm has a market capitalization of $445.70 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 0.54 and a beta of 0.47. The business’s fifty day moving average price is $214.06 and its 200 day moving average price is $193.68. 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 Corporation has a 12 month low of $146.49 and a 12 month high of $236.48.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.87 by $0.41. The company had revenue of $65.24 billion for the quarter, compared to analysts’ expectations of $61.82 billion. Chevron had a return on equity of 14.64% and a net margin of 11.56%. Chevron’s quarterly revenue was up 36.3% on a year-over-year basis. During the same period last year, the firm earned $1.85 earnings per share. On average, sell-side analysts anticipate that Chevron Corporation will post 18.20 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, November 18th. Chevron’s dividend payout ratio (DPR) is 52.08%.

Insider Transactions at Chevron

In related news, insider R. Pate sold 40,700 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total value of $9,224,655.00. Following the completion of the transaction, the insider directly owned 8,791 shares of the company’s stock, valued at $1,992,480.15. This represents a 82.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Andrew Walz sold 16,800 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 379,470 shares of company stock valued at $77,216,415. Corporate insiders own 0.56% of the company’s stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reported adjusted third-quarter earnings of $5.28 per share, topping expectations, with record U.S. refinery throughput and strong refining margins contributing to results. UBS raised its price target to $265 and retained a Buy rating after the results. Q3 results deep dive
• Positive Sentiment: Chevron says it remains on track to supply power to a Microsoft West Texas data center in 2028 through Project Kilby, despite permitting uncertainty—an update supporting its efforts to build data-center energy demand into a growth opportunity. Chevron data-center power target
• Neutral Sentiment: Oil-market sentiment is volatile: Brent fell about 8% after signals that Iran may be open to peace talks, but reports of U.S. strikes in Iran complicate the outlook. A sustained easing of conflict could pressure crude prices, while renewed escalation could reverse the move. Oil-market reaction to Iran news
• Negative Sentiment: Lower crude prices pose a potential headwind for Chevron’s upstream earnings, and the shares may also be vulnerable to profit-taking after a substantial rally. ETF flows were mixed, with reports of net sales on Oct. 30. ETF sales of Chevron shares
• Negative Sentiment: DZ Bank lowered its rating from Buy to Hold, adding a cautious analyst view even as its $240 target remains above the quoted share price. DZ Bank rating action

About Chevron

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.