Chevron Corporation $CVX Shares Newly Purchased by Montaka Global Pty Ltd

Montaka Global Pty Ltd acquired a new position in Chevron Corporation (NYSE:CVX) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 50,968 shares of the oil and gas company’s stock, valued at approximately $10,408,000. Chevron accounts for 4.2% of Montaka Global Pty Ltd’s holdings, making the stock its 8th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp grew its holdings in shares of Chevron by 3.9% during the 2nd quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock worth $28,016,651,000 after acquiring an additional 5,998,852 shares during the period. BlackRock Inc. purchased a new position in shares of Chevron in the 2nd quarter valued at approximately $25,663,729,000. Bank of America Corp DE lifted its stake in shares of Chevron by 5.1% in the 1st quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock valued at $5,716,694,000 after purchasing an additional 1,334,976 shares during the period. Amundi lifted its stake in shares of Chevron by 3.0% in the 1st quarter. Amundi now owns 12,185,436 shares of the oil and gas company’s stock valued at $2,521,166,000 after purchasing an additional 349,416 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Chevron during the second quarter valued at approximately $2,378,114,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is selling QatarEnergy a 25% stake in its PEL82 offshore exploration license in Namibia. The deal shares exploration costs while Chevron retains control and exposure to potential discoveries. Chevron Expands Namibia Ties With QatarEnergy Offshore Stake Deal
• Positive Sentiment: Chevron is pursuing a $13.8 billion expansion in Argentina’s Vaca Muerta shale formation, aiming to triple its output there by 2035. Applying Permian expertise could support growth, though the plan faces high costs and pipeline constraints. Can Chevron’s $13.8B Vaca Muerta Bet Fuel Long-Term Growth?
• Neutral Sentiment: Chevron plans to double production in Venezuela, offering potential volume growth but exposing the company to political and investment risks. The article notes ExxonMobil’s reluctance to return after past asset seizures and flags uncertainty around long-term oil demand. Chevron Is Doubling Venezuela Production. ExxonMobil Says It’s Not in a Rush.
• Negative Sentiment: Oil prices fell to their lowest since August after President Trump said the Iran war was effectively over. Lower crude prices can weigh on Chevron’s earnings outlook; however, the report says there was no signed deal and Iran denied talks, leaving the situation uncertain. Oil Prices Just Fell to Their Lowest Since August

Analyst Ratings Changes

Several brokerages recently weighed in on CVX. Barclays upped their price target on Chevron from $208.00 to $244.00 and gave the stock an “equal weight” rating in a research note on Monday, November 2nd. Freedom Broker raised Chevron from a “sell” rating to a “hold” rating and set a $218.00 price objective for the company in a research report on Thursday, November 5th. BNP Paribas Exane dropped their target price on shares of Chevron from $230.00 to $224.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. Argus boosted their target price on shares of Chevron from $206.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, Dbs Bank raised shares of Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $221.88.

Insider Transactions at Chevron

In other Chevron news, CEO Michael Wirth sold 317,100 shares of the firm’s 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 of the company’s stock, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider R. Pate sold 40,700 shares of the firm’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the completion of the transaction, the insider directly owned 8,791 shares in the company, valued at approximately $1,992,480.15. The trade was a 82.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 379,470 shares of company stock worth $77,216,415 in the last ninety days. Insiders own 0.56% of the company’s stock.

Chevron Stock Up 0.2%

Shares of NYSE:CVX opened at $211.15 on Wednesday. The stock has a fifty day simple moving average of $215.19 and a two-hundred day simple moving average of $194.85. The stock has a market capitalization of $414.99 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 0.49 and a beta of 0.47. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $236.48. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.16.

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. Chevron had a net margin of 11.56% and a return on equity of 14.49%. The business had revenue of $65.24 billion during the quarter, compared to analysts’ expectations of $61.82 billion. During the same period in the previous year, the company earned $1.85 earnings per share. The business’s revenue for the quarter was up 36.3% compared to the same quarter last year. On average, research analysts anticipate that Chevron Corporation will post 18.56 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, December 10th. Stockholders of record on Wednesday, November 18th will be 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 is Wednesday, November 18th. Chevron’s dividend payout ratio (DPR) is 52.08%.

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.