3,605 Shares of Chevron Corporation $CVX Bought by Collaborative Fund Advisors LLC

Collaborative Fund Advisors LLC bought a new position in Chevron Corporation (NYSE:CVX) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,605 shares of the oil and gas company’s stock, valued at approximately $736,000.

A number of other hedge funds have also bought and sold shares of CVX. Gemmer Asset Management LLC increased its stake in shares of Chevron by 1.1% during the 3rd quarter. Gemmer Asset Management LLC now owns 4,254 shares of the oil and gas company’s stock worth $869,000 after purchasing an additional 47 shares during the last quarter. Livet Wealth LLC increased its position in Chevron by 4.0% in the third quarter. Livet Wealth LLC now owns 1,268 shares of the oil and gas company’s stock worth $259,000 after buying an additional 49 shares during the last quarter. First PREMIER Bank increased its position in Chevron by 0.8% in the second quarter. First PREMIER Bank now owns 6,450 shares of the oil and gas company’s stock worth $1,070,000 after buying an additional 50 shares during the last quarter. Vanguard Capital Wealth Advisors raised its stake in Chevron by 1.8% in the 2nd quarter. Vanguard Capital Wealth Advisors now owns 2,818 shares of the oil and gas company’s stock valued at $467,000 after acquiring an additional 50 shares during the period. Finally, Nautilus Advisors LLC lifted its stake in shares of Chevron by 2.8% during the 3rd quarter. Nautilus Advisors LLC now owns 1,859 shares of the oil and gas company’s stock valued at $380,000 after buying an additional 50 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Insider Activity at Chevron

In other news, insider R. Pate sold 40,700 shares of the company’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $226.65, for a total value of $9,224,655.00. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael K. Wirth sold 317,100 shares of Chevron stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the transaction, the chief executive officer owned 26,308 shares of the company’s stock, valued at $5,273,701.68. The trade was a 92.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 379,470 shares of company stock worth $77,216,415 in the last 90 days. Company insiders own 0.56% of the company’s stock.

Chevron Stock Down 3.7%

Shares of NYSE CVX opened at $216.94 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $236.48. The firm’s fifty day moving average is $214.40 and its 200 day moving average is $193.93. The company has a market cap of $428.63 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 0.53 and a beta of 0.47.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.87 by $0.41. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The company had revenue of $65.24 billion during the quarter, compared to analyst estimates of $61.82 billion. During the same period in the prior year, the business posted $1.85 EPS. The firm’s revenue was up 36.3% compared to the same quarter last year. On average, equities research analysts expect that Chevron Corporation will post 18.26 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, November 18th. Chevron’s payout ratio is currently 52.08%.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s third-quarter results were highlighted as strong, with refining strength and cost discipline supporting debt reduction and increased share buybacks. These actions may support shareholder returns. Why ExxonMobil and Chevron Reminded Investors to Keep it Simple
• Positive Sentiment: Chevron advanced talks on Iraq’s West Qurna 2 oilfield and is pursuing additional exploration opportunities, potentially expanding its upstream growth prospects. Chevron Advances Iraq Oilfield Deal, Expands Growth Prospects
• Negative Sentiment: Oil stocks, including Chevron, sold off after Democrats won the Senate in the midterm elections. The market reaction put pressure on the sector, rather than reflecting a newly reported problem at Chevron. Oil Stocks Take a Beating on Midterm Results
• Negative Sentiment: Commentary that oil’s price surge may have peaked—and that crude may not return to $100—added to concerns about future energy-sector earnings. The article also notes that a sudden geopolitical shock could reverse that outlook. What Election Night Could Mean for Energy Stocks

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CVX shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $241.00 target price on shares of Chevron in a report on Tuesday, October 20th. Sanford C. Bernstein boosted their target price on Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. BMO Capital Markets increased their price target on shares of Chevron from $210.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, September 3rd. 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. Finally, BNP Paribas Exane decreased their target price on shares of Chevron from $230.00 to $224.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $222.04.

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.