5,285 Chevron Corporation $CVX Shares Sold by Means Investment CO. Inc.

Means Investment CO. Inc. lowered its position in shares of Chevron Corporation (NYSE:CVX) by 12.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,760 shares of the oil and gas company’s stock after selling 5,285 shares during the period. Means Investment CO. Inc.’s holdings in Chevron were worth $7,303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Elite Wealth Management Inc. boosted its position in shares of Chevron by 2,170.0% in the third quarter. Elite Wealth Management Inc. now owns 36,819 shares of the oil and gas company’s stock valued at $7,519,000 after acquiring an additional 35,197 shares during the period. M Holdings Securities Inc. bought a new position in Chevron during the third quarter worth about $8,542,000. Avantax Planning Partners Inc. increased its position in Chevron by 2.8% during the third quarter. Avantax Planning Partners Inc. now owns 62,970 shares of the oil and gas company’s stock worth $12,859,000 after acquiring an additional 1,691 shares during the period. Richard Young Associates Ltd. bought a new position in Chevron during the third quarter worth about $257,000. Finally, American State Bank Iowa raised its stake in Chevron by 3.2% in the 3rd quarter. American State Bank Iowa now owns 8,332 shares of the oil and gas company’s stock worth $1,701,000 after purchasing an additional 259 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Key Chevron News

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

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 317,100 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the sale, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider R. Pate sold 40,700 shares of Chevron stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $226.65, for a total value of $9,224,655.00. Following the completion of the transaction, the insider owned 8,791 shares in the company, valued at approximately $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. In the last quarter, insiders sold 379,470 shares of company stock valued at $77,216,415. Corporate insiders own 0.56% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $212.66 on Monday. The firm has a 50 day moving average of $214.91 and a 200-day moving average of $194.40. The stock has a market capitalization of $420.17 billion, a PE ratio of 15.56, a PEG ratio of 0.50 and a beta of 0.47. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $236.48.

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 analysts’ consensus estimates of $4.87 by $0.41. The company 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 14.49%. The firm’s quarterly revenue was up 36.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.85 EPS. On average, equities research analysts predict that Chevron Corporation will post 18.56 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have issued reports on CVX. Argus boosted their price objective on shares of Chevron from $206.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Weiss Ratings lowered Chevron from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, November 2nd. Wells Fargo & Company lifted their price objective on Chevron from $230.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, November 2nd. Raymond James Financial cut their target price on Chevron from $230.00 to $225.00 and set an “outperform” rating for the company in a research report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. increased their target price on Chevron from $190.00 to $222.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. One investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $221.88.

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.