31,474 Chevron Corporation $CVX Shares Sold by Pegasus Asset Management Inc.

Pegasus Asset Management Inc. cut its stake in Chevron Corporation (NYSE:CVX) by 94.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,778 shares of the oil and gas company’s stock after selling 31,474 shares during the period. Pegasus Asset Management Inc.’s holdings in Chevron were worth $363,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CVX. Main Street Group LTD acquired a new stake in shares of Chevron during the first quarter worth about $28,000. Kilter Group LLC acquired a new stake in shares of Chevron in the 2nd quarter valued at about $28,000. Principia Wealth Advisory LLC boosted its position in shares of Chevron by 49.6% in the 2nd quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 60 shares during the period. Strategic Wealth Advisors LLC acquired a new position in Chevron during the second quarter worth approximately $33,000. Finally, Burk Holdings LLC acquired a new position in Chevron during the second quarter worth approximately $42,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVX. Mizuho set a $234.00 price objective on Chevron in a report on Monday, October 12th. Royal Bank Of Canada raised their price objective on shares of Chevron from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, September 24th. Wells Fargo & Company lifted their price objective on shares of Chevron from $230.00 to $268.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. Morgan Stanley upped their target price on shares of Chevron from $226.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, November 2nd. Finally, DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $240.00 target price for the company. in a research note on Tuesday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.88.

Insider Activity at Chevron

In related news, insider Andrew Walz sold 16,800 shares of Chevron stock in a transaction that occurred 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 sale, the insider directly owned 14 shares in the company, valued at $2,814.84. The trade was a 99.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider R. Pate sold 40,700 shares of the company’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total value of $9,224,655.00. Following the transaction, the insider directly owned 8,791 shares in the company, valued at $1,992,480.15. This represents a 82.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 379,470 shares of company stock worth $77,216,415 over the last three months. 0.56% of the stock is currently owned by corporate insiders.

Trending Headlines about Chevron

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

Chevron Stock Down 0.1%

Shares of Chevron stock opened at $212.66 on Friday. Chevron Corporation has a one year low of $146.49 and a one year high of $236.48. The company has a market cap of $420.17 billion, a P/E ratio of 15.56, a PEG ratio of 0.50 and a beta of 0.47. 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 firm has a fifty day moving average of $214.91 and a two-hundred day moving average of $194.40.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.87 by $0.41. The firm had revenue of $65.24 billion during the quarter, compared to the consensus estimate of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The firm’s revenue was up 36.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.85 earnings per share. On average, analysts forecast that Chevron Corporation will post 18.56 earnings per share for the current year.

Chevron Announces Dividend

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

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.