17,179 Chevron Corporation $CVX Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its position in Chevron Corporation (NYSE:CVX) by 11.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 165,398 shares of the oil and gas company’s stock after acquiring an additional 17,179 shares during the period. Farther Finance Advisors LLC’s holdings in Chevron were worth $34,286,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Midwest Capital Advisors LLC bought a new position in Chevron in the 1st quarter worth about $25,000. Main Street Group LTD bought a new stake in shares of Chevron during the first quarter valued at approximately $28,000. Phillip James Consulting Co. acquired a new position in shares of Chevron during the fourth quarter worth approximately $26,000. Kilter Group LLC acquired a new position in shares of Chevron during the second quarter worth approximately $28,000. Finally, Basso Capital Management L.P. bought a new position in Chevron in the 4th quarter worth approximately $27,000. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Sanford C. Bernstein raised their target price on Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. The Goldman Sachs Group reduced their price target on Chevron from $240.00 to $228.00 and set a “buy” rating for the company in a research report on Tuesday, September 22nd. BMO Capital Markets increased their price target on Chevron from $210.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, September 3rd. Barclays lowered their price target on Chevron from $216.00 to $208.00 and set an “equal weight” rating on the stock in a report on Monday, August 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Chevron from $190.00 to $222.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.24.

Chevron Price Performance

Shares of NYSE CVX traded up $6.41 during mid-day trading on Thursday, reaching $211.56. 7,620,438 shares of the company traded hands, compared to its average volume of 10,502,368. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $217.78. The firm has a market cap of $418.00 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 0.58 and a beta of 0.53. The stock has a fifty day simple moving average of $203.83 and a 200-day simple moving average of $192.87. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98.

Chevron (NYSE:CVX) last released its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The firm’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.77 earnings per share. Equities research analysts anticipate that Chevron Corporation will post 17.47 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 19th. Chevron’s payout ratio is currently 68.26%.

Insider Transactions at Chevron

In related news, insider Andrew Walz sold 16,800 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the transaction, the insider owned 14 shares of the company’s stock, valued at $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael Wirth sold 317,100 shares of Chevron 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 transaction, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $5,273,701.68. The trade was a 92.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,152,582 shares of company stock worth $225,853,661. Corporate insiders own 0.56% of the company’s stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices are the primary catalyst. Crude oil moved above $92.60 amid concerns that Middle East tensions could disrupt supply, supporting expectations for stronger upstream cash flow and profits at Chevron. UBS also raised its price target to $235. Why Is Chevron Stock Surging on Thursday?
• Positive Sentiment: Chevron’s Hess Midstream restructuring could improve Bakken economics. The company is transferring its Hess Midstream interests and DJ Basin assets in exchange for revised contracts, a $200 million cash payment and an expected roughly 50% reduction in Bakken midstream costs. The transaction is also expected to eliminate or simplify about $3.7 billion of associated debt, potentially improving returns and reducing balance-sheet complexity. Chevron’s Portfolio Reshaping Strategy to Unlock Stronger Returns
• Positive Sentiment: Market commentary highlighted Chevron’s cash generation, shareholder returns and portfolio optimization, while Zacks upgraded the stock from “hold” to “strong buy.” Chevron highlighted as Zacks Bull of the Day
• Neutral Sentiment: Storm-related Gulf of Mexico shutdowns could tighten fuel markets and support prices, but they also temporarily reduce Chevron’s production and create operational risk. Chevron shut in four operated facilities while keeping five others producing normally as Tropical Storm Isaias approached. Chevron Shuts In Four Gulf Facilities as Hurricane Isaias Nears
• Negative Sentiment: The Hess Midstream transaction is expected to produce a $3 billion–$4 billion closing loss, creating a near-term earnings and valuation headwind even though management expects longer-term cost benefits. Chevron Is Offloading Hess Midstream and Taking a $3 Billion to $4 Billion Hit

Chevron Company 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.