Chevron Corporation $CVX Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its position in Chevron Corporation (NYSE:CVX) by 4.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 372,121 shares of the oil and gas company’s stock after selling 15,500 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Chevron were worth $75,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Gemmer Asset Management LLC raised its holdings in Chevron by 1.1% during the third quarter. Gemmer Asset Management LLC now owns 4,254 shares of the oil and gas company’s stock valued at $869,000 after acquiring an additional 47 shares during the period. Livet Wealth LLC boosted its stake in shares of Chevron by 4.0% in the third quarter. Livet Wealth LLC now owns 1,268 shares of the oil and gas company’s stock worth $259,000 after acquiring an additional 49 shares during the period. First PREMIER Bank boosted its stake in shares of Chevron by 0.8% in the second quarter. First PREMIER Bank now owns 6,450 shares of the oil and gas company’s stock worth $1,070,000 after acquiring an additional 50 shares during the period. Vanguard Capital Wealth Advisors raised its stake in Chevron by 1.8% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 2,818 shares of the oil and gas company’s stock valued at $467,000 after purchasing an additional 50 shares during the period. Finally, Nautilus Advisors LLC raised its stake in Chevron by 2.8% during the 3rd quarter. Nautilus Advisors LLC now owns 1,859 shares of the oil and gas company’s stock valued at $380,000 after purchasing an additional 50 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Key Headlines Impacting Chevron

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

Analyst Ratings Changes

A number of brokerages have issued reports on CVX. Zacks Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Bank of America increased their price objective on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. UBS Group lifted their target price on Chevron from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 8th. TD Cowen boosted their target price on Chevron from $215.00 to $225.00 and gave the stock a “hold” rating in a research report on Monday, October 12th. Finally, Morgan Stanley increased their price target on Chevron from $218.00 to $226.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $213.96.

Chevron Stock Performance

Shares of Chevron stock opened at $235.62 on Friday. The stock’s fifty day moving average is $213.16 and its two-hundred day moving average is $193.07. The company has a market capitalization of $465.53 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 0.55 and a beta of 0.53. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $236.48.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share 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 return on equity of 11.09% and a net margin of 9.57%. The business’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.85 EPS. As a group, analysts expect that Chevron Corporation will post 18.20 earnings per share for the current year.

Insider Activity at Chevron

In other news, Director John Hess sold 710,665 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the sale, the director directly owned 363,711 shares of the company’s stock, valued at $70,596,305.10. The trade was a 66.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Wirth sold 317,100 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $5,273,701.68. This represents a 92.34% 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 have sold 1,195,682 shares of company stock worth $235,619,780. 0.56% of the stock is owned by insiders.

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.