Chevron Corporation $CVX Stock Acquired by Vise Technologies Inc.

Vise Technologies Inc. increased its position in Chevron Corporation (NYSE:CVX) by 21.2% in the third quarter, Holdings Channel.com reports. The fund owned 198,391 shares of the oil and gas company’s stock after purchasing an additional 34,701 shares during the period. Vise Technologies Inc.’s holdings in Chevron were worth $40,513,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. State Street Corp lifted its stake in Chevron by 3.9% in the second quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock worth $28,016,651,000 after purchasing an additional 5,998,852 shares during the last quarter. BlackRock Inc. purchased a new stake in Chevron in the 2nd quarter valued at $25,663,729,000. Bank of America Corp DE grew its holdings in Chevron by 5.1% during the first quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock worth $5,716,694,000 after acquiring an additional 1,334,976 shares during the period. Bank of New York Mellon Corp acquired a new position in Chevron during the second quarter worth about $2,378,114,000. Finally, Amundi lifted its stake in shares of Chevron by 14.1% during the second quarter. Amundi now owns 13,900,271 shares of the oil and gas company’s stock valued at $2,304,109,000 after buying an additional 1,714,835 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of several research analyst reports. Weiss Ratings upgraded Chevron from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 16th. Jefferies Financial Group boosted their price objective on Chevron from $216.00 to $233.00 and gave the stock a “buy” rating in a report on Monday, August 17th. The Goldman Sachs Group restated a “buy” rating and issued a $241.00 target price on shares of Chevron in a research note on Tuesday, October 20th. UBS Group boosted their price objective on Chevron from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 8th. Finally, Argus boosted their target price on Chevron from $206.00 to $211.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $213.96.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Quarterly earnings exceeded expectations. Chevron reported adjusted earnings of $5.28 per share, above the roughly $4.87-$4.89 analyst consensus, while revenue reached $65.24 billion versus estimates of $61.82 billion. Adjusted earnings of approximately $10.4 billion nearly tripled from a year earlier. Chevron tops Q3 expectations on higher downstream profit
• Positive Sentiment: Refining was the standout business. Downstream earnings climbed to nearly $4.9 billion from about $1.1 billion a year earlier as refinery outages and conflicts involving Iran and Russia reduced fuel supplies and lifted margins. Chevron beats earnings expectations as refining profits soar
• Positive Sentiment: Cash generation and the balance sheet improved. Chevron generated roughly $12 billion of free cash flow and $16 billion of operating cash flow, while reducing net debt by about $7.8 billion. This supports dividends, potential buybacks and future investment. Chevron’s profit nearly tripled from a year ago
• Neutral Sentiment: Analyst sentiment has become more constructive. One valuation estimate increased from $227.71 to $232.50, with higher oil-price assumptions, strong refining results and possible Venezuela-related upside supporting revised targets. However, the stock’s rally has reduced its dividend yield for new investors. Chevron stock fair value edges higher
• Negative Sentiment: Investors face risks beyond the strong quarter. Chevron warned that downtime could reduce fourth-quarter production by approximately 225,000 barrels of oil equivalent per day. In addition, refining profits may normalize if geopolitical disruptions ease, while the stock’s elevated valuation and lingering questions about buybacks could limit further upside. Chevron says downtime could hit Q4 output

Insider Activity at Chevron

In other news, Director John Hess sold 710,665 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total value of $137,940,076.50. Following the sale, the director owned 363,711 shares in the company, valued at $70,596,305.10. This represents a 66.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Wirth sold 317,100 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the sale, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This represents a 92.34% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,195,682 shares of company stock worth $235,619,780. 0.56% of the stock is owned by insiders.

Chevron Stock Up 1.8%

Shares of NYSE CVX opened at $235.62 on Friday. The firm’s fifty day moving average is $213.16 and its 200 day moving average is $193.07. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $236.48. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The company has a market cap of $465.53 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 0.56 and a beta of 0.53.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.87 by $0.41. The business had revenue of $65.24 billion during the quarter, compared to analysts’ expectations of $61.82 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.85 earnings per share. On average, equities research analysts expect that Chevron Corporation will post 18.15 earnings per share for the current year.

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.