Chevron Corporation $CVX Stock Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lowered its stake in Chevron Corporation (NYSE:CVX) by 5.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 151,401 shares of the oil and gas company’s stock after selling 8,318 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Chevron were worth $30,918,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CVX. Climber Capital SA acquired a new position in Chevron during the 3rd quarter worth about $227,000. Mayfair Advisory Group LLC boosted its holdings in Chevron by 0.7% during the 3rd quarter. Mayfair Advisory Group LLC now owns 7,292 shares of the oil and gas company’s stock valued at $1,489,000 after acquiring an additional 52 shares during the period. Eagle Wealth Advisors LLC grew its position in Chevron by 8.8% in the 3rd quarter. Eagle Wealth Advisors LLC now owns 1,435 shares of the oil and gas company’s stock valued at $293,000 after acquiring an additional 116 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Chevron by 1.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 551,979 shares of the oil and gas company’s stock valued at $112,720,000 after acquiring an additional 8,833 shares in the last quarter. Finally, Vestia Personal Wealth Advisors grew its position in Chevron by 12.8% in the 3rd quarter. Vestia Personal Wealth Advisors now owns 2,621 shares of the oil and gas company’s stock valued at $535,000 after acquiring an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Activity

In related news, 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 value of $63,565,866.00. Following the completion of the transaction, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. The trade was a 92.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Hess sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the transaction, the director owned 178,045 shares of the company’s stock, valued at $34,587,021.70. This trade represents a 35.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,195,682 shares of company stock valued at $235,619,780 over the last three months. 0.56% of the stock is currently owned by corporate insiders.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Bank of America raised its Chevron price target to $252 from $227, signaling greater confidence in the company’s earnings and cash-flow outlook. Chevron price target raised to $252 from $227 at BofA
• Positive Sentiment: Chevron is reportedly selling older Gulf of Mexico assets to sharpen its focus on higher-priority U.S. Gulf operations. Asset sales could streamline the portfolio, improve capital efficiency and support cash flow, although proceeds and transaction terms remain important. Chevron to sharpen US Gulf focus with sale of older assets
• Positive Sentiment: Elevated oil prices, with Brent crude pushed above $110 by Iran-related supply concerns, have helped Chevron and other integrated oil companies reach 52-week highs by improving the potential value of production and cash generation. Chevron, ExxonMobil Stocks Hit 52-Week Highs
• Positive Sentiment: Investors are watching Chevron’s Venezuela investment for potential production growth toward roughly 600,000 barrels per day. If achieved, the project could add substantial revenue, while relatively low production costs may support long-term profitability. Chevron Is Pouring Billions Into Venezuela
• Neutral Sentiment: Chevron’s production update and upcoming earnings are drawing attention because investors will assess whether higher oil prices and recent operational changes are translating into stronger results. Why Is Chevron in Focus?
• Negative Sentiment: Director R. Pate sold 43,100 Chevron shares for approximately $9.8 million across two transactions. The trades were made under a pre-arranged Rule 10b5-1 plan, reducing their significance as a discretionary bearish signal, but the large reduction in ownership could still weigh modestly on sentiment. Chevron insider trading filing

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CVX. Barclays reduced their price target on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Monday, August 17th. Jefferies Financial Group raised their price objective on shares of Chevron from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Monday, August 17th. The Goldman Sachs Group restated a “buy” rating and issued a $241.00 price objective on shares of Chevron in a report on Tuesday. HSBC set a $90.00 target price on shares of Chevron in a research note on Friday, September 25th. Finally, Royal Bank Of Canada upped their target price on shares of Chevron from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $213.96.

Chevron Trading Up 0.5%

CVX opened at $226.81 on Thursday. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $228.48. The stock has a market capitalization of $448.13 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 0.62 and a beta of 0.53. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The business has a fifty day moving average price of $209.37 and a 200 day moving average price of $193.91.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. The company had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%. Chevron’s revenue was up 57.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.77 EPS. Sell-side analysts expect that Chevron Corporation will post 17.71 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were given a dividend of $1.78 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.1%. Chevron’s payout ratio is currently 68.26%.

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.