Chevron Corporation $CVX Stock: Hollow Brook Wealth Management LLC Lowers Position

Hollow Brook Wealth Management LLC reduced its holdings in Chevron Corporation (NYSE:CVX) by 8.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,613 shares of the oil and gas company’s stock after selling 3,215 shares during the period. Chevron comprises 1.2% of Hollow Brook Wealth Management LLC’s holdings, making the stock its 15th largest position. Hollow Brook Wealth Management LLC’s holdings in Chevron were worth $7,068,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Main Street Group LTD purchased a new position in shares of Chevron during the 1st quarter valued at approximately $28,000. Kilter Group LLC acquired a new stake in Chevron in the 2nd quarter valued at $28,000. Principia Wealth Advisory LLC grew its stake in Chevron by 49.6% in the 2nd quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 60 shares during the period. Strategic Wealth Advisors LLC acquired a new stake in Chevron in the 2nd quarter valued at $33,000. Finally, Burk Holdings LLC purchased a new stake in Chevron in the 2nd quarter worth $42,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 0.0%

Shares of Chevron stock opened at $235.62 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The stock’s 50 day simple moving average is $213.16 and its 200-day simple moving average is $193.07. The stock has a market cap of $465.53 billion, a P/E ratio of 17.24, a P/E/G ratio of 0.56 and a beta of 0.47. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $236.48.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.87 by $0.41. Chevron had a return on equity of 14.64% and a net margin of 11.56%. The firm had revenue of $65.24 billion during the quarter, compared to analysts’ expectations of $61.82 billion. During the same quarter last year, the firm earned $1.85 earnings per share. The business’s revenue for the quarter was up 36.3% on a year-over-year basis. Analysts predict that Chevron Corporation will post 18.15 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be paid a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $7.12 dividend on an annualized basis and a yield of 3.0%. Chevron’s payout ratio is 68.26%.

Insiders Place Their Bets

In other Chevron news, insider Andrew Walz sold 16,800 shares of the company’s stock in a transaction on Monday, August 17th. The stock was 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 in the company, valued at $2,814.84. This represents a 99.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R. Pate sold 40,700 shares of the firm’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total value of $9,224,655.00. Following the completion of the sale, the insider directly owned 8,791 shares of the company’s stock, valued at $1,992,480.15. This trade represents a 82.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 385,017 shares of company stock valued at $78,253,704. Insiders own 0.56% of the company’s stock.

Trending Headlines about 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

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research analyst reports. Barclays reduced their price objective on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a research report on Monday, August 17th. Morgan Stanley increased their price objective on shares of Chevron from $218.00 to $226.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Bank of America lifted their target price on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings raised shares of Chevron from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 16th. Finally, BMO Capital Markets upped their price target on shares of Chevron from $210.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. One research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $213.96.

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.