Chevron Corporation $CVX Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lessened its stake in shares of Chevron Corporation (NYSE:CVX) by 6.4% in the third quarter, Holdings Channel reports. The institutional investor owned 480,737 shares of the oil and gas company’s stock after selling 32,722 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Chevron were worth $98,171,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Midwest Capital Advisors LLC bought a new position in shares of Chevron in the first quarter valued at approximately $25,000. Main Street Group LTD bought a new stake in Chevron during the 1st quarter worth approximately $28,000. Kilter Group LLC bought a new stake in Chevron during the 2nd quarter worth approximately $28,000. Principia Wealth Advisory LLC lifted its stake in Chevron by 49.6% in the 2nd quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 60 shares in the last quarter. Finally, Strategic Wealth Advisors LLC purchased a new stake in Chevron in the 2nd quarter worth approximately $33,000. 72.42% of the stock is currently owned by institutional investors.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Bank of America raised its Chevron price target to $252 from $227, signaling greater confidence in the company’s earnings and cash-flow outlook. Chevron price target raised to $252 from $227 at BofA
• Positive Sentiment: Chevron is reportedly selling older Gulf of Mexico assets to sharpen its focus on higher-priority U.S. Gulf operations. Asset sales could streamline the portfolio, improve capital efficiency and support cash flow, although proceeds and transaction terms remain important. Chevron to sharpen US Gulf focus with sale of older assets
• Positive Sentiment: Elevated oil prices, with Brent crude pushed above $110 by Iran-related supply concerns, have helped Chevron and other integrated oil companies reach 52-week highs by improving the potential value of production and cash generation. Chevron, ExxonMobil Stocks Hit 52-Week Highs
• Positive Sentiment: Investors are watching Chevron’s Venezuela investment for potential production growth toward roughly 600,000 barrels per day. If achieved, the project could add substantial revenue, while relatively low production costs may support long-term profitability. Chevron Is Pouring Billions Into Venezuela
• Neutral Sentiment: Chevron’s production update and upcoming earnings are drawing attention because investors will assess whether higher oil prices and recent operational changes are translating into stronger results. Why Is Chevron in Focus?
• Negative Sentiment: Director R. Pate sold 43,100 Chevron shares for approximately $9.8 million across two transactions. The trades were made under a pre-arranged Rule 10b5-1 plan, reducing their significance as a discretionary bearish signal, but the large reduction in ownership could still weigh modestly on sentiment. Chevron insider trading filing

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley raised their price target on shares of Chevron from $218.00 to $226.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Zacks Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Barclays lowered their price objective on Chevron from $216.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Monday, August 17th. BNP Paribas Exane dropped their price objective on Chevron from $230.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Finally, Bank of America lifted their price objective on Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.96.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction 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. This represents a 92.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew Walz sold 16,800 shares of the 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 transaction, the insider owned 14 shares in the company, valued at $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,195,682 shares of company stock worth $235,619,780. 0.56% of the stock is currently owned by company insiders.

Chevron Price Performance

CVX stock opened at $226.81 on Thursday. The firm has a 50 day simple moving average of $209.37 and a two-hundred day simple moving average of $193.91. The stock has a market cap of $448.13 billion, a PE ratio of 21.75, a P/E/G ratio of 0.62 and a beta of 0.53. Chevron Corporation has a one year low of $146.49 and a one year high of $228.48. 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 posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. The company had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm’s revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.77 EPS. On average, analysts predict that Chevron Corporation will post 17.71 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders 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 yield of 3.1%. Chevron’s dividend payout ratio (DPR) is presently 68.26%.

About Chevron

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.