Chevron Corporation $CVX Stock Sold by Kestra Investment Management LLC

Kestra Investment Management LLC lessened its position in shares of Chevron Corporation (NYSE:CVX) by 44.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,221 shares of the oil and gas company’s stock after selling 2,574 shares during the period. Kestra Investment Management LLC’s holdings in Chevron were worth $658,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Chevron in the second quarter worth $25,663,729,000. Bank of New York Mellon Corp bought a new stake in Chevron during the second quarter valued at $2,378,114,000. Legal & General Group Plc purchased a new position in Chevron during the second quarter worth about $1,462,412,000. Deutsche Bank AG purchased a new position in Chevron during the second quarter worth about $1,189,577,000. Finally, State Street Corp grew its position in Chevron by 3.9% during the second quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock worth $28,016,651,000 after buying an additional 5,998,852 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVX. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $240.00 target price on the stock. in a research note on Tuesday, November 3rd. Barclays lifted their price target on Chevron from $208.00 to $244.00 and gave the company an “equal weight” rating in a research report on Monday, November 2nd. Weiss Ratings lowered Chevron from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, November 2nd. UBS Group boosted their price objective on Chevron from $235.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. Finally, Wall Street Zen upgraded shares of Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $221.88.

Trending Headlines about Chevron

Investors following CVX have been watching these headlines:

• Positive Sentiment: Chevron plans to invest $13.8 billion in Argentina’s Vaca Muerta shale region and aims to triple output there by 2035. Applying Permian expertise could support long-term production growth, if the company can manage high costs and pipeline constraints. Can Chevron’s $13.8B Vaca Muerta Bet Fuel Long-Term Growth?
• Neutral Sentiment: Dividend coverage highlights Chevron’s long record of annual increases—39 consecutive years—and its reaffirmed payout. That history may appeal to income investors, though comparisons with other dividend stocks do not by themselves indicate near-term earnings or share-price direction. Exxon vs. Chevron: Which Oil Dividend Wins the Next Decade?
• Negative Sentiment: Chevron’s plans to expand Venezuelan production offer potential growth, but the article flags political and investment uncertainty; ExxonMobil’s caution underscores the risks of committing capital in the country. Chevron Is Doubling Venezuela Production. ExxonMobil Says It’s Not in a Rush.

Chevron Stock Performance

Chevron stock opened at $213.21 on Thursday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $236.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.07 and a current ratio of 1.34. The stock has a market cap of $419.05 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 0.49 and a beta of 0.47. The firm’s fifty day moving average price is $215.23 and its 200-day moving average price is $195.08.

Chevron (NYSE:CVX) last announced its earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.87 by $0.41. The company had revenue of $65.24 billion during the quarter, compared to analyst estimates of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.49%. The firm’s quarterly revenue was up 36.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 earnings per share. On average, equities research analysts expect that Chevron Corporation will post 18.64 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company 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 dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $7.12 annualized dividend and a yield of 3.3%. Chevron’s payout ratio is 52.08%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the transaction, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $5,273,701.68. This represents a 92.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew Walz sold 16,800 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider directly owned 14 shares in the company, valued at approximately $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. Insiders sold a total of 379,470 shares of company stock valued at $77,216,415 over the last 90 days. Insiders own 0.56% of the company’s stock.

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.