University of Texas Texas AM Investment Management Co. Acquires 50,617 Shares of Chevron Corporation $CVX

University of Texas Texas AM Investment Management Co. raised its holdings in Chevron Corporation (NYSE:CVX) by 245.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,261 shares of the oil and gas company’s stock after purchasing an additional 50,617 shares during the period. Chevron accounts for about 1.8% of University of Texas Texas AM Investment Management Co.’s holdings, making the stock its 12th biggest position. University of Texas Texas AM Investment Management Co.’s holdings in Chevron were worth $14,552,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Capital Inc. purchased a new position in Chevron during the second quarter valued at approximately $786,000. OneAscent Wealth Management LLC bought a new stake in Chevron during the 2nd quarter worth approximately $973,000. Global Retirement Partners LLC bought a new stake in Chevron during the 2nd quarter worth approximately $14,276,000. Greg Jennings LLC purchased a new stake in Chevron in the 3rd quarter worth approximately $1,314,000. Finally, Ferguson Wellman Capital Management Inc. lifted its stake in Chevron by 0.6% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company’s stock worth $186,182,000 after purchasing an additional 5,787 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was upgraded by Freedom Broker from “sell” to “hold,” with a $218 price target. The change signals less bearishness, though the target implies only modest upside from the cited share price. Freedom Broker rating
• Positive Sentiment: Natural-gas production topped 9 billion cubic feet per day in the third quarter, supported by operations in Australia and the Eastern Mediterranean. Record output could strengthen Chevron’s position in the liquefied natural gas market, despite operational disruptions. Zacks article on gas production
• Positive Sentiment: Recent coverage points to record cash flow and a run of earnings beats as reasons to consider CVX for the long term. Chevron’s latest reported quarter also exceeded analyst expectations for earnings and revenue, supporting the fundamental case. 247WallSt analysis
• Neutral Sentiment: An executive reported selling 24,439 shares in an option exercise-and-sale transaction. The report alone does not establish a change in the company’s outlook. Insider transaction report
• Negative Sentiment: Coverage says a post-election political shift sent oil prices lower, dragging energy stocks, including Chevron. A separate analyst downgrade also contributed to reported share-price pressure, highlighting sensitivity to oil-market expectations and cautious ratings. Report on analyst downgrade

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 317,100 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 26,308 shares in the company, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider R. Pate sold 40,700 shares of Chevron stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total transaction 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 379,470 shares of company stock valued at $77,216,415 in the last quarter. Corporate insiders own 0.56% of the company’s stock.

Chevron Stock Up 0.0%

Shares of NYSE CVX opened at $212.66 on Monday. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $236.48. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $420.17 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 0.50 and a beta of 0.47. The business has a 50-day moving average of $214.91 and a 200-day moving average of $194.40.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, topping the consensus estimate 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 net margin of 11.56% and a return on equity of 14.49%. Chevron’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.85 earnings per share. Sell-side analysts expect that Chevron Corporation will post 18.56 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Bank of America raised their price target on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Wells Fargo & Company boosted their price target on shares of Chevron from $230.00 to $268.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. Dbs Bank raised shares of Chevron to a “moderate buy” rating in a report on Thursday, August 6th. Zacks Research upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Finally, DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $240.00 price objective on the stock. in a research report on Tuesday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $221.88.

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.