Chevron Corporation $CVX Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. lowered its holdings in Chevron Corporation (NYSE:CVX) by 9.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,020 shares of the oil and gas company’s stock after selling 4,468 shares during the period. Fulton Bank N.A.’s holdings in Chevron were worth $6,799,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Indivisible Partners acquired a new position in shares of Chevron during the fourth quarter valued at $1,923,000. Janney Montgomery Scott LLC increased its holdings in shares of Chevron by 6.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock worth $258,853,000 after acquiring an additional 79,439 shares during the period. Galaxy Digital Inc. acquired a new stake in shares of Chevron in the 1st quarter worth about $2,028,000. Nations Financial Group Inc. IA ADV lifted its position in Chevron by 35.0% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 42,882 shares of the oil and gas company’s stock valued at $6,536,000 after purchasing an additional 11,120 shares during the last quarter. Finally, Osprey Private Wealth LLC lifted its position in Chevron by 556.4% in the 4th quarter. Osprey Private Wealth LLC now owns 9,190 shares of the oil and gas company’s stock valued at $1,401,000 after purchasing an additional 7,790 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 5,547 shares of Chevron stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the sale, the chief executive officer owned 26,308 shares in the company, valued at $4,919,596. The trade was a 17.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hess sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the transaction, the director directly owned 178,045 shares of the company’s stock, valued at $34,587,021.70. The trade was a 35.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,196,212 shares of company stock valued at $231,819,366 in the last quarter. Corporate insiders own 0.56% of the company’s stock.

Chevron Stock Performance

Shares of CVX stock opened at $194.57 on Tuesday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The stock’s 50-day moving average is $182.55 and its two-hundred day moving average is $186.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The firm has a market cap of $384.43 billion, a P/E ratio of 18.65, a PEG ratio of 0.57 and a beta of 0.49.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.51. The business had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The firm’s revenue was up 57.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.77 EPS. Analysts predict that Chevron Corporation will post 15.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.7%. Chevron’s dividend payout ratio is 68.26%.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Renewed uncertainty around shipping through the Strait of Hormuz has pushed Brent crude back toward $89 per barrel. Higher oil prices typically benefit Chevron’s upstream business by increasing realized prices and operating cash flow. Chevron Stock Jumps 3.3% as Hormuz Doubts Lift Oil
• Positive Sentiment: Chevron’s second-quarter performance exceeded expectations, with earnings of $6.06 per share versus a $5.55 consensus estimate and revenue of $67.2 billion versus $62.72 billion expected. Record production, strong cash generation and operational execution are reinforcing investor confidence. CVX’s Q2 Earnings Beat
• Positive Sentiment: Hess acquisition synergies are reportedly ahead of schedule, supporting production growth through 2030, additional free cash flow and greater per-share accretion. Management has also reached its $3 billion annualized structural cost-reduction target six months early. Can Chevron’s Hess Synergies Extend Growth and Lift Cash Flow Further?
• Neutral Sentiment: Geopolitical tensions and possible changes to the Jones Act are keeping fuel-market conditions and crude prices volatile. This may support upstream profits but could also increase political pressure over gasoline prices. Why Trump’s Waiver of the Jones Act Is Unlikely To Lower Gas Prices
• Negative Sentiment: Analysts caution that commodity-price reversals, planned maintenance and execution risks could limit the rally despite Chevron’s strong results. Recent insider selling also presents a modest sentiment headwind. Chevron Stock Price Down After Insider Selling

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Weiss Ratings lowered shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $216.00 price target on shares of Chevron in a report on Friday, July 10th. Morgan Stanley decreased their price objective on Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Scotiabank raised their target price on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Bank of America lifted their target price on Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $207.48.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.