Chevron Corporation $CVX Shares Sold by Machina Capital S.A.S.

Machina Capital S.A.S. cut its holdings in shares of Chevron Corporation (NYSE:CVX) by 11.3% during the 3rd quarter, Holdings Channel reports. The firm owned 42,026 shares of the oil and gas company’s stock after selling 5,351 shares during the period. Chevron makes up 1.1% of Machina Capital S.A.S.’s holdings, making the stock its 5th largest holding. Machina Capital S.A.S.’s holdings in Chevron were worth $8,582,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Gemmer Asset Management LLC lifted its holdings in shares of 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 worth $869,000 after acquiring an additional 47 shares during the period. Livet Wealth LLC increased its stake in Chevron by 4.0% in the third quarter. Livet Wealth LLC now owns 1,268 shares of the oil and gas company’s stock valued at $259,000 after acquiring an additional 49 shares during the last quarter. Uhlmann Price Securities LLC increased its stake in shares of Chevron by 3.1% in the 3rd quarter. Uhlmann Price Securities LLC now owns 1,639 shares of the oil and gas company’s stock valued at $335,000 after purchasing an additional 49 shares during the last quarter. First PREMIER Bank grew its position in Chevron by 0.8% in the second quarter. First PREMIER Bank now owns 6,450 shares of the oil and gas company’s stock valued at $1,070,000 after acquiring an additional 50 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors grew its holdings in shares of Chevron by 1.8% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 2,818 shares of the oil and gas company’s stock valued at $467,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, insider Andrew Walz sold 16,800 shares of Chevron stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the sale, 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. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider R. Pate sold 40,700 shares of Chevron stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the completion of the sale, the insider directly owned 8,791 shares in the company, valued at $1,992,480.15. This trade represents a 82.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 379,470 shares of company stock valued at $77,216,415. Company insiders own 0.56% of the company’s stock.

Trending Headlines about Chevron

These are some of the CVX headlines that stood out recently:

• Positive Sentiment: Chevron’s recent third-quarter results reportedly strengthened the earnings outlook, and the company reaffirmed its quarterly dividend. One valuation analysis argues the shares could be substantially undervalued, though that estimate depends on the model’s assumptions. Chevron Could Be 76% Below Fair Value As Q3 Earnings Reset Valuation
• Positive Sentiment: A 25% stake in Chevron’s Namibia offshore license is being sold to QatarEnergy. Sharing exploration costs while retaining control could limit Chevron’s financial exposure and preserve potential upside from a discovery. Chevron Expands Namibia Ties With QatarEnergy Offshore Stake Deal
• Positive Sentiment: Chevron plans to invest $13.8 billion in Argentina’s Vaca Muerta shale region and aims to triple output there by 2035. Applying Permian expertise could support long-term production growth, if the company can manage high costs and pipeline constraints. Can Chevron’s $13.8B Vaca Muerta Bet Fuel Long-Term Growth?

Chevron Trading Up 0.9%

NYSE CVX opened at $213.21 on Thursday. The business has a fifty day simple moving average of $215.23 and a 200 day simple moving average of $195.08. The firm has a market capitalization of $419.05 billion, a P/E ratio of 15.60, a PEG ratio of 0.49 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 released 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 11.56% and a return on equity of 14.49%. The business had revenue of $65.24 billion for the quarter, compared to analysts’ expectations of $61.82 billion. During the same period in the previous year, the company earned $1.85 earnings per share. The firm’s revenue for the quarter was up 36.3% compared to the same quarter last year. On average, analysts predict that Chevron Corporation will post 18.64 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, November 18th. Chevron’s payout ratio is presently 52.08%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CVX shares. Royal Bank Of Canada boosted their price objective on Chevron from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, September 24th. Sanford C. Bernstein upped their price objective on shares of Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. The Goldman Sachs Group reiterated a “buy” rating and set a $241.00 price objective on shares of Chevron in a research report on Tuesday, October 20th. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $240.00 target price for the company. in a report on Tuesday, November 3rd. Finally, Dbs Bank raised shares of Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.