Chevron Corporation $CVX Stock Purchased by Partners Wealth Management LLC

Partners Wealth Management LLC boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 136.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,236 shares of the oil and gas company’s stock after purchasing an additional 3,604 shares during the period. Partners Wealth Management LLC’s holdings in Chevron were worth $1,273,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Gemmer Asset Management LLC raised its stake in 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 valued at $869,000 after buying an additional 47 shares during the last quarter. Livet Wealth LLC lifted its holdings in shares of Chevron by 4.0% during the 3rd quarter. Livet Wealth LLC now owns 1,268 shares of the oil and gas company’s stock valued at $259,000 after buying an additional 49 shares during the period. First PREMIER Bank lifted its holdings in shares of Chevron by 0.8% during the 2nd quarter. First PREMIER Bank now owns 6,450 shares of the oil and gas company’s stock valued at $1,070,000 after buying an additional 50 shares during the period. Vanguard Capital Wealth Advisors boosted its stake in shares of 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 worth $467,000 after buying an additional 50 shares during the last quarter. Finally, Nautilus Advisors LLC boosted its stake in shares of Chevron by 2.8% in the 3rd quarter. Nautilus Advisors LLC now owns 1,859 shares of the oil and gas company’s stock worth $380,000 after buying an additional 50 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Quarterly earnings exceeded expectations. Chevron reported adjusted earnings of $5.28 per share, above the roughly $4.87-$4.89 analyst consensus, while revenue reached $65.24 billion versus estimates of $61.82 billion. Adjusted earnings of approximately $10.4 billion nearly tripled from a year earlier. Chevron tops Q3 expectations on higher downstream profit
• Positive Sentiment: Refining was the standout business. Downstream earnings climbed to nearly $4.9 billion from about $1.1 billion a year earlier as refinery outages and conflicts involving Iran and Russia reduced fuel supplies and lifted margins. Chevron beats earnings expectations as refining profits soar
• Positive Sentiment: Cash generation and the balance sheet improved. Chevron generated roughly $12 billion of free cash flow and $16 billion of operating cash flow, while reducing net debt by about $7.8 billion. This supports dividends, potential buybacks and future investment. Chevron’s profit nearly tripled from a year ago
• Neutral Sentiment: Analyst sentiment has become more constructive. One valuation estimate increased from $227.71 to $232.50, with higher oil-price assumptions, strong refining results and possible Venezuela-related upside supporting revised targets. However, the stock’s rally has reduced its dividend yield for new investors. Chevron stock fair value edges higher
• Negative Sentiment: Investors face risks beyond the strong quarter. Chevron warned that downtime could reduce fourth-quarter production by approximately 225,000 barrels of oil equivalent per day. In addition, refining profits may normalize if geopolitical disruptions ease, while the stock’s elevated valuation and lingering questions about buybacks could limit further upside. Chevron says downtime could hit Q4 output

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley lifted their price objective on Chevron from $218.00 to $226.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. Zacks Research upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. The Goldman Sachs Group reissued a “buy” rating and issued a $241.00 target price on shares of Chevron in a report on Tuesday, October 20th. Jefferies Financial Group raised their target price on Chevron from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Finally, Barclays cut their price target on Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $213.96.

Chevron Stock Up 1.8%

CVX opened at $235.62 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $236.48. The company has a market capitalization of $465.53 billion, a PE ratio of 22.59, a PEG ratio of 0.55 and a beta of 0.53. The firm’s 50 day simple moving average is $213.16 and its two-hundred day simple moving average is $193.07.

Chevron (NYSE:CVX) last issued its quarterly earnings results 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. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business had revenue of $65.24 billion for the quarter, compared to analysts’ expectations of $61.82 billion. During the same quarter last year, the company posted $1.85 EPS. The company’s revenue was up 36.3% compared to the same quarter last year. As a group, equities analysts forecast that Chevron Corporation will post 18.20 EPS for the current year.

Insider Buying and Selling

In related news, insider Andrew Walz sold 16,800 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was 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 of the company’s stock, valued at approximately $2,814.84. This trade represents a 99.92% 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, Director John Hess sold 710,665 shares of Chevron stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total value of $137,940,076.50. Following the transaction, the director owned 363,711 shares in the company, valued at $70,596,305.10. This trade represents a 66.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,195,682 shares of company stock valued at $235,619,780 in the last 90 days. 0.56% of the stock is owned by company insiders.

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.