94,050 Chevron Corporation $CVX Shares Sold by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. trimmed its position in Chevron Corporation (NYSE:CVX) by 61.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,910 shares of the oil and gas company’s stock after selling 94,050 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in Chevron were worth $11,826,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Blue Capital Inc. acquired a new stake in shares of Chevron during the second quarter worth about $786,000. OneAscent Wealth Management LLC purchased a new stake in Chevron during the second quarter worth $973,000. Global Retirement Partners LLC acquired a new position in shares of Chevron during the 2nd quarter worth $14,276,000. Greg Jennings LLC acquired a new position in shares of Chevron during the 3rd quarter worth $1,314,000. Finally, Ferguson Wellman Capital Management Inc. boosted its position in shares of 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 buying an additional 5,787 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 317,100 shares of the business’s stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew Walz sold 16,800 shares of the company’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 owned 14 shares of the company’s stock, valued at approximately $2,814.84. The trade was a 99.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 385,017 shares of company stock worth $78,253,704. 0.56% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on CVX. Barclays lowered their price objective on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Monday, August 17th. Raymond James Financial reduced their target price on shares of Chevron from $230.00 to $225.00 and set an “outperform” rating on the stock in a report on Tuesday, July 21st. HSBC set a $90.00 target price on Chevron in a research report on Friday, September 25th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $241.00 target price on shares of Chevron in a research report on Tuesday, October 20th. Finally, William Blair assumed coverage on Chevron in a report on Wednesday. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $215.54.

Chevron Trading Up 0.0%

Chevron stock opened at $235.62 on Monday. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $236.48. The firm’s 50-day moving average is $213.16 and its 200-day moving average is $193.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The company has a market cap of $465.53 billion, a P/E ratio of 17.24, a PEG ratio of 0.56 and a beta of 0.47.

Chevron (NYSE:CVX) last released 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. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The firm had revenue of $65.24 billion for the quarter, compared to analyst estimates of $61.82 billion. During the same quarter in the prior year, the business earned $1.85 earnings per share. Chevron’s quarterly revenue was up 36.3% on a year-over-year basis. On average, equities analysts expect that Chevron Corporation will post 18.15 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be issued 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 dividend yield of 3.0%. Chevron’s dividend payout ratio is 68.26%.

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

About Chevron

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.