Chevron Corporation $CVX Stock: Oregon Public Employees Retirement Fund Raises Position

Oregon Public Employees Retirement Fund increased its position in Chevron Corporation (NYSE:CVX) by 5.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 242,879 shares of the oil and gas company’s stock after purchasing an additional 12,710 shares during the period. Chevron comprises about 0.5% of Oregon Public Employees Retirement Fund’s investment portfolio, making the stock its 28th biggest holding. Oregon Public Employees Retirement Fund’s holdings in Chevron were worth $49,598,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gallacher Capital Management LLC purchased a new stake in shares of Chevron in the third quarter worth approximately $292,000. First Nebraska Trust Co acquired a new stake in shares of Chevron during the third quarter worth approximately $19,537,000. Aware Super Pty Ltd as trustee of Aware Super boosted its holdings in shares of Chevron by 12.0% during the third quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 165,724 shares of the oil and gas company’s stock worth $33,842,000 after purchasing an additional 17,740 shares during the period. Tucker Asset Management LLC boosted its holdings in shares of Chevron by 16.2% during the third quarter. Tucker Asset Management LLC now owns 3,426 shares of the oil and gas company’s stock worth $700,000 after purchasing an additional 477 shares during the period. Finally, Gerber Kawasaki Wealth & Investment Management grew its position in Chevron by 8.5% during the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 7,395 shares of the oil and gas company’s stock valued at $1,510,000 after purchasing an additional 578 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CVX shares. Argus upped their price objective on shares of Chevron from $206.00 to $211.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. TD Cowen lifted their target price on shares of Chevron from $215.00 to $225.00 and gave the company a “hold” rating in a research note on Monday, October 12th. William Blair began coverage on shares of Chevron in a research note on Wednesday, October 28th. They set an “outperform” rating for the company. Barclays boosted their price target on shares of Chevron from $208.00 to $244.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Bank of America upped their price target on shares of Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $222.04.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction on 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 transaction, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. This represents a 92.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Walz sold 16,800 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the transaction, the insider owned 14 shares in the company, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 379,470 shares of company stock worth $77,216,415 over the last ninety days. 0.56% of the stock is currently owned by insiders.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reported adjusted third-quarter earnings of $5.28 per share, topping expectations, with record U.S. refinery throughput and strong refining margins contributing to results. UBS raised its price target to $265 and retained a Buy rating after the results. Q3 results deep dive
• Positive Sentiment: Chevron says it remains on track to supply power to a Microsoft West Texas data center in 2028 through Project Kilby, despite permitting uncertainty—an update supporting its efforts to build data-center energy demand into a growth opportunity. Chevron data-center power target
• Neutral Sentiment: Oil-market sentiment is volatile: Brent fell about 8% after signals that Iran may be open to peace talks, but reports of U.S. strikes in Iran complicate the outlook. A sustained easing of conflict could pressure crude prices, while renewed escalation could reverse the move. Oil-market reaction to Iran news
• Negative Sentiment: Lower crude prices pose a potential headwind for Chevron’s upstream earnings, and the shares may also be vulnerable to profit-taking after a substantial rally. ETF flows were mixed, with reports of net sales on Oct. 30. ETF sales of Chevron shares
• Negative Sentiment: DZ Bank lowered its rating from Buy to Hold, adding a cautious analyst view even as its $240 target remains above the quoted share price. DZ Bank rating action

Chevron Stock Down 1.0%

CVX opened at $225.58 on Wednesday. The company has a market capitalization of $445.70 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 0.54 and a beta of 0.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $236.48. The business has a 50-day moving average of $214.06 and a 200-day moving average of $193.68.

Chevron (NYSE:CVX) last announced 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 business had revenue of $65.24 billion during the quarter, compared to analysts’ expectations of $61.82 billion. During the same quarter in the previous year, the business posted $1.85 EPS. The firm’s quarterly revenue was up 36.3% compared to the same quarter last year. Equities research analysts forecast that Chevron Corporation will post 18.20 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 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.