Chevron Corporation $CVX Stock Sold by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC cut its position in shares of Chevron Corporation (NYSE:CVX) by 5.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 161,957 shares of the oil and gas company’s stock after selling 9,446 shares during the period. Chevron accounts for about 3.3% of Insight Wealth Strategies LLC’s investment portfolio, making the stock its 4th biggest holding. Insight Wealth Strategies LLC’s holdings in Chevron were worth $33,073,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. First PREMIER Bank boosted its stake in Chevron by 0.8% during the second quarter. First PREMIER Bank now owns 6,450 shares of the oil and gas company’s stock worth $1,070,000 after acquiring an additional 50 shares in the last quarter. Vanguard Capital Wealth Advisors increased its stake in shares of Chevron by 1.8% during the second 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 in the last quarter. Nautilus Advisors LLC lifted its holdings in shares of Chevron by 2.8% during the third quarter. Nautilus Advisors LLC now owns 1,859 shares of the oil and gas company’s stock valued at $380,000 after purchasing an additional 50 shares during the last quarter. Cornerstone Advisory LLC boosted its position in shares of Chevron by 0.9% in the 1st quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock worth $1,164,000 after purchasing an additional 52 shares in the last quarter. Finally, Chickasaw Capital Management LLC boosted its position in shares of Chevron by 0.8% in the 3rd quarter. Chickasaw Capital Management LLC now owns 7,225 shares of the oil and gas company’s stock worth $1,475,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX traded up $1.23 during mid-day trading on Friday, reaching $212.78. 2,288,987 shares of the company traded hands, compared to its average volume of 10,459,173. The company’s 50 day moving average price is $204.21 and its 200-day moving average price is $192.94. 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 $420.40 billion, a PE ratio of 20.42, a PEG ratio of 0.57 and a beta of 0.53. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $217.78.

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, beating analysts’ consensus estimates of $5.55 by $0.51. The company had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. Chevron’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.77 EPS. On average, equities analysts expect that Chevron Corporation will post 17.47 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a dividend of $1.78 per share. The ex-dividend date was Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.3%. Chevron’s dividend payout ratio is currently 68.26%.

Insider Activity at Chevron

In related news, insider Andrew Walz sold 16,800 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were 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 directly owned 14 shares of the company’s stock, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Hess sold 710,665 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the sale, the director owned 363,711 shares in the company, valued at approximately $70,596,305.10. The trade was a 66.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,152,582 shares of company stock valued at $225,853,661. Insiders own 0.56% of the company’s stock.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices support the stock. Crude oil moved above $92.60 amid concerns about Middle East supply disruptions, helping lift energy shares. UBS also raised its Chevron price target to $235. Why Is Chevron Stock Surging on Thursday?
• Positive Sentiment: Analyst support remains favorable. Piper Sandler maintained its Buy rating, while other recent research has highlighted Chevron’s cash generation, shareholder returns and potential for stronger returns from portfolio changes. Piper Sandler Sticks to Their Buy Rating for Chevron
• Positive Sentiment: The Hess Midstream restructuring could improve Chevron’s cost structure. Chevron is transferring its Hess Midstream interests and DJ Basin assets in exchange for revised Bakken contracts. The transaction is expected to reduce Bakken midstream costs by roughly 50%, eliminate approximately $3.7 billion of associated debt and simplify the portfolio. Chevron’s Portfolio Reshaping Strategy to Unlock Stronger Returns
• Neutral Sentiment: Analyst opinions are mixed. Although Piper Sandler remains bullish, broader coverage reflects differing views on Chevron and the energy sector, limiting the impact of any single rating. Analysts’ Opinions Are Mixed on Chevron
• Negative Sentiment: The restructuring carries a sizable near-term charge. Reports estimate Chevron could absorb a $3 billion–$4 billion closing loss, while Hess Midstream’s revised contracts indicate lower future volumes and earnings. Chevron Is Offloading Hess Midstream
• Negative Sentiment: Storm-related shutdowns create temporary operating risk. Chevron shut in four Gulf of Mexico facilities as Tropical Storm Isaias approached. The disruption may reduce near-term production, although tighter fuel markets and higher prices could partly offset the impact. Chevron Shuts In Four Gulf Facilities

Analysts Set New Price Targets

A number of research analysts recently weighed in on CVX shares. The Goldman Sachs Group reduced their price objective on Chevron from $240.00 to $228.00 and set a “buy” rating for the company in a research report on Tuesday, September 22nd. Weiss Ratings raised Chevron from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Piper Sandler raised their price target on Chevron from $207.00 to $243.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Thursday, July 2nd. Finally, Wall Street Zen raised shares of Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.24.

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.