Chevron Corporation $CVX Stock Sold by Paradigm Asset Management Co. LLC

Paradigm Asset Management Co. LLC lessened its holdings in shares of Chevron Corporation (NYSE:CVX) by 13.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,739 shares of the oil and gas company’s stock after selling 3,089 shares during the quarter. Chevron comprises 0.9% of Paradigm Asset Management Co. LLC’s investment portfolio, making the stock its 18th largest position. Paradigm Asset Management Co. LLC’s holdings in Chevron were worth $4,031,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp raised 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 valued at $28,016,651,000 after purchasing an additional 5,998,852 shares in the last quarter. BlackRock Inc. purchased a new position in Chevron in the 2nd quarter worth approximately $25,663,729,000. Bank of America Corp DE grew its stake in 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 worth $5,716,694,000 after buying an additional 1,334,976 shares in the last quarter. Amundi grew its stake in Chevron by 3.0% in the 1st quarter. Amundi now owns 12,185,436 shares of the oil and gas company’s stock worth $2,521,166,000 after buying an additional 349,416 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Chevron in the 2nd quarter worth $2,378,114,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, insider Andrew Walz sold 16,800 shares of the business’s stock in a transaction on 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 completion of the sale, the insider directly owned 14 shares of the company’s stock, valued at $2,814.84. The trade was a 99.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Wirth sold 317,100 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the sale, the chief executive officer owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. The trade was a 92.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 379,470 shares of company stock valued at $77,216,415 over the last three months. Insiders own 0.56% of the company’s stock.

Chevron Trading Up 0.9%

CVX stock opened at $213.21 on Thursday. The company has a market capitalization of $419.05 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 0.49 and a beta of 0.47. Chevron Corporation has a one year low of $146.49 and a one year high of $236.48. The company’s 50 day moving average price is $215.23 and its two-hundred day moving average price is $195.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.07 and a current ratio of 1.34.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.87 by $0.41. Chevron had a net margin of 11.56% and a return on equity of 14.49%. The firm had revenue of $65.24 billion during the quarter, compared to analyst estimates of $61.82 billion. During the same period in the previous year, the business posted $1.85 EPS. The business’s quarterly revenue was up 36.3% on a year-over-year basis. As a group, analysts predict that Chevron Corporation will post 18.64 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 52.08%.

Chevron News Roundup

Investors following CVX have been watching these news items:

• Positive Sentiment: Chevron’s recent third-quarter results reportedly strengthened the earnings outlook, and the company reaffirmed its quarterly dividend. One valuation analysis argues the shares could be substantially undervalued, though that estimate depends on the model’s assumptions. Chevron Could Be 76% Below Fair Value As Q3 Earnings Reset Valuation
• Positive Sentiment: Chevron plans to invest $13.8 billion in Argentina’s Vaca Muerta shale region and aims to triple output there by 2035. Applying Permian expertise could support long-term production growth, if the company can manage high costs and pipeline constraints. Can Chevron’s $13.8B Vaca Muerta Bet Fuel Long-Term Growth?
• Neutral Sentiment: Dividend coverage highlights Chevron’s long record of annual increases—39 consecutive years—and its reaffirmed payout. That history may appeal to income investors, though comparisons with other dividend stocks do not by themselves indicate near-term earnings or share-price direction. Exxon vs. Chevron: Which Oil Dividend Wins the Next Decade?

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CVX. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $240.00 price objective on the stock. in a research report on Tuesday, November 3rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $241.00 target price on shares of Chevron in a research report on Tuesday, October 20th. Weiss Ratings cut Chevron from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, November 2nd. Raymond James Financial reduced their target price on Chevron from $230.00 to $225.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 21st. Finally, Argus raised their price target on Chevron from $206.00 to $211.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $221.88.

Chevron Company 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.