Park Avenue Securities LLC Sells 8,489 Shares of Chevron Corporation $CVX

Park Avenue Securities LLC trimmed its position in Chevron Corporation (NYSE:CVX) by 5.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 147,251 shares of the oil and gas company’s stock after selling 8,489 shares during the period. Park Avenue Securities LLC’s holdings in Chevron were worth $30,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Midwest Capital Advisors LLC acquired a new position in shares of Chevron during the 1st quarter worth about $25,000. Main Street Group LTD bought a new position in Chevron in the first quarter worth $28,000. Kilter Group LLC acquired a new position in shares of Chevron in the 2nd quarter valued at $28,000. Principia Wealth Advisory LLC raised its stake in shares of 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 buying an additional 60 shares in the last quarter. Finally, Financial Connections Group Inc. lifted its holdings in shares of Chevron by 129.3% during the 1st quarter. Financial Connections Group Inc. now owns 211 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 119 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices and potential earnings beat: Crude prices have strengthened Chevron’s earnings outlook, with analysts expecting the company to outperform third-quarter estimates when it reports on October 30. Investors will focus on production growth, cash flow, dividends and buybacks. 3 Energy Stocks Poised to Outshine Earnings Estimates in Q3
• Positive Sentiment: Production and Hess synergies are supporting cash flow: Ariel Investments highlighted Chevron’s strong production, benefits from its Hess acquisition and improving cash generation as reasons for the stock’s gains. The comments reinforce the view that Chevron’s scale and integration efforts can improve shareholder returns. Chevron Corporation Gains on Strong Production, Hess Synergies, and Higher Cash Flow
• Positive Sentiment: Expansion of offshore and international opportunities: TotalEnergies agreed to acquire a 25% interest in 26 Chevron-operated U.S. offshore exploration leases, while Chevron will take a 75% operated interest in two adjacent leases. Chevron also reportedly made a high-quality offshore gas discovery in Egypt and is positioned to participate in a 2027 Indian LPG supply tender. These developments could expand its long-term production portfolio. TotalEnergies Enters Chevron-Operated Offshore Exploration Blocks
• Neutral Sentiment: Long-term gas contract adds revenue visibility: Chevron Australia will supply South32 with 55 petajoules of natural gas over five years beginning in 2028, supporting a more predictable future revenue stream, though the financial benefit is several years away. Chevron’s Australian Business Signs Long-Term Natural Gas Deal
• Negative Sentiment: Valuation and oil-price risk are rising: After a roughly 145% five-year advance and a strong recent run, valuation analyses question whether Chevron’s current market value assumes persistently high oil prices. A disappointment in crude prices or earnings could therefore trigger profit-taking. Chevron Earnings Preview

Insider Activity

In other news, Director John B. Hess sold 100,000 shares of Chevron stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the transaction, the director owned 178,045 shares in the company, valued at approximately $34,587,021.70. The trade was a 35.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew Walz sold 16,800 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 14 shares in the company, valued at $2,814.84. The trade was a 99.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,195,682 shares of company stock valued at $235,619,780 over the last three months. 0.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on CVX. Royal Bank Of Canada lifted their target price on shares of Chevron from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, September 24th. Argus upped their target price 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. Weiss Ratings raised shares of Chevron from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, October 16th. Bank of America raised 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. Finally, BNP Paribas Exane cut their price target on shares of Chevron from $230.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. One 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.96.

Chevron Stock Up 0.3%

CVX opened at $228.88 on Thursday. The firm’s 50-day simple moving average is $212.05 and its 200-day simple moving average is $192.35. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $234.08. The firm has a market cap of $452.22 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 0.55 and a beta of 0.53.

Chevron (NYSE:CVX) last announced its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business had revenue of $67.20 billion during the quarter, compared to analysts’ expectations of $62.72 billion. During the same quarter last year, the company posted $1.77 EPS. The firm’s revenue for the quarter was up 57.4% on a year-over-year basis. Equities research analysts anticipate that Chevron Corporation will post 18.20 EPS for the current fiscal year.

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.