Chevron Corporation $CVX Shares Sold by Smith Chas P & Associates PA Cpas

Smith Chas P & Associates PA Cpas reduced its holdings in shares of Chevron Corporation (NYSE:CVX) by 23.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 12,646 shares of the oil and gas company’s stock after selling 3,891 shares during the period. Smith Chas P & Associates PA Cpas’ holdings in Chevron were worth $1,964,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Decker Retirement Planning Inc. acquired a new position in Chevron in the 3rd quarter valued at about $34,000. Vermillion & White Wealth Management Group LLC grew its stake in shares of Chevron by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 118 shares during the last quarter. Marquette Asset Management LLC acquired a new position in shares of Chevron in the third quarter valued at approximately $41,000. Barnes Dennig Private Wealth Management LLC raised its stake in shares of Chevron by 306.1% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 202 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA raised its stake in shares of Chevron by 106.7% during the second quarter. LFA Lugano Financial Advisors SA now owns 310 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 160 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Global oil/gas rally is boosting integrated energy stocks; higher commodity prices improve Chevron’s near-term margins and cash flow outlook. Read More.
• Positive Sentiment: Broker upgrades and higher price targets (Citigroup, Bank of America, Melius and others) signal renewed analyst conviction and support upside expectations. Read More.
• Positive Sentiment: Notable portfolio moves (including increased exposure in Berkshire’s final quarter) and positive coverage identifying CVX as a top oil pick are drawing investor interest. Read More.
• Neutral Sentiment: Analyst coverage is mixed overall: several buys and target lifts exist, but consensus includes many holds, which can limit sustained momentum. Read More.
• Negative Sentiment: Chevron declared force majeure and halted production at the Leviathan gas field amid regional hostilities — a direct operational disruption that can dent near-term volumes and revenue. Read More.
• Negative Sentiment: Substantial insider selling by R. Hewitt Pate (large blocks sold late Feb. and early Mar.; SEC filings) may amplify profit-taking and be viewed negatively by some investors. Read More.
• Negative Sentiment: Ongoing geopolitical risk (Iran threats, Strait of Hormuz disruptions) increases volatility and operational uncertainty even as higher oil tends to boost earnings for majors. Read More.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Zacks Research raised shares of Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 23rd. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Morgan Stanley dropped their price target on shares of Chevron from $180.00 to $174.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Mizuho raised their price objective on shares of Chevron from $204.00 to $206.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Finally, Freedom Capital cut Chevron from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $178.95.

Chevron Trading Down 0.5%

Shares of CVX opened at $188.56 on Wednesday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $191.56. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $376.25 billion, a P/E ratio of 28.31, a PEG ratio of 12.55 and a beta of 0.67. The firm’s 50-day moving average is $171.08 and its two-hundred day moving average is $160.10.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.44 by $0.08. The business had revenue of $45.79 billion for the quarter, compared to analyst estimates of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The company’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.06 EPS. On average, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.8%. This is a positive change from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, February 17th. Chevron’s dividend payout ratio is currently 106.91%.

Insiders Place Their Bets

In other news, insider Andrew Benjamin Walz sold 22,200 shares of Chevron stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $176.53, for a total transaction of $3,918,966.00. Following the completion of the transaction, the insider owned 666 shares of the company’s stock, valued at $117,568.98. The trade was a 97.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Eimear P. Bonner sold 32,100 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the completion of the sale, the chief financial officer directly owned 4,366 shares in the company, valued at approximately $764,093.66. The trade was a 88.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 628,373 shares of company stock valued at $107,085,890. Company insiders own 0.20% of the company’s stock.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.