10,746 Chevron Corporation $CVX Shares Sold by CoreCap Advisors LLC

Key Points

• CoreCap Advisors reduced its Chevron stake by 27.4%, selling 10,746 shares during the third quarter and retaining 28,500 shares valued at approximately $5.87 million. Institutional investors and hedge funds collectively own 72.42% of Chevron.
• Chevron insiders have been significant sellers: CEO Michael Wirth sold 317,100 shares and insider Andrew Walz sold 16,800 shares, while insiders sold 1.15 million shares worth $225.9 million over the past 90 days.
• Chevron reported stronger-than-expected quarterly results, with EPS of $6.06 and revenue of $67.2 billion, and pays a quarterly dividend of $1.78, equivalent to a 3.4% annualized yield. Analysts remain broadly positive, with a “Moderate Buy” consensus rating and an average price target of $210.24.

CoreCap Advisors LLC decreased its position in Chevron Corporation (NYSE:CVX - Free Report) by 27.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,500 shares of the oil and gas company's stock after selling 10,746 shares during the period. CoreCap Advisors LLC's holdings in Chevron were worth $5,871,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Blue Capital Inc. acquired a new stake in shares of Chevron in the 2nd quarter valued at $786,000. OneAscent Wealth Management LLC acquired a new position in shares of Chevron during the second quarter valued at $973,000. Global Retirement Partners LLC bought a new position in Chevron in the second quarter valued at about $14,276,000. Ferguson Wellman Capital Management Inc. boosted its stake in shares of Chevron by 0.6% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company's stock valued at $186,182,000 after purchasing an additional 5,787 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Chevron by 6.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company's stock worth $258,853,000 after buying an additional 79,439 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In related news, insider Andrew Walz sold 16,800 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 14 shares in the company, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Wirth sold 317,100 shares of Chevron stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the sale, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $5,273,701.68. This represents a 92.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,152,582 shares of company stock worth $225,853,661 in the last 90 days. Company insiders own 0.56% of the company's stock.

Chevron Stock Up 3.1%

Shares of Chevron stock opened at $211.56 on Friday. The company has a market capitalization of $418.00 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 0.57 and a beta of 0.53. 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 business has a 50-day moving average of $204.21 and a two-hundred day moving average of $192.94. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $217.78.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, beating analysts' consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business's revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.77 earnings per share. As a group, equities analysts predict that Chevron Corporation will post 17.47 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 19th. Chevron's payout ratio is currently 68.26%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices and supply concerns are supporting CVX. Crude oil moved above $92.60 as Middle East tensions raised concerns about global supply. Tropical Storm Isaias also prompted Gulf producers, including Chevron, to shut in some output, potentially tightening near-term fuel markets. Why Is Chevron Stock Surging on Thursday?
• Positive Sentiment: Analyst sentiment has improved. UBS raised its Chevron price target to $235, while Zacks upgraded the stock from “hold” to “strong buy.” Separate bullish commentary highlighted Chevron’s cash generation, estimates and dividend appeal. Chevron highlighted as Zacks Bull
• Positive Sentiment: The Hess Midstream restructuring could improve operating efficiency. Chevron is transferring its Hess Midstream interests and DJ Basin midstream assets in exchange for revised Bakken contracts and $200 million in cash. The arrangement is expected to reduce Bakken midstream costs by roughly 50%, eliminate about $3.7 billion of associated debt exposure and extend commercial agreements through 2045. Chevron Is Offloading Hess Midstream
• Neutral Sentiment: Gulf production interruptions are mixed for Chevron. Four operated facilities were shut in and some workers evacuated as the storm approached. Lost production may be temporary, while tighter regional supply could support realized prices; the ultimate effect depends on storm duration and restart costs. Chevron evacuates workers from Gulf platforms
• Negative Sentiment: The restructuring carries a sizable near-term charge. Reports estimate Chevron may take a $3 billion-$4 billion closing loss. Investors must weigh that hit against the expected cost savings and improved Bakken returns. Chevron’s Portfolio Reshaping Strategy
• Negative Sentiment: Policy risk remains. CEO Mike Wirth warned that a U.S. diesel-export ban could reduce global supply and worsen the energy crisis, highlighting potential regulatory uncertainty for Chevron’s refining and marketing businesses. Chevron CEO warns against diesel export ban

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CVX shares. BMO Capital Markets raised their price objective on shares of Chevron from $210.00 to $235.00 and gave the company an "outperform" rating in a research note on Thursday, September 3rd. UBS Group increased their price target on Chevron from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Thursday. Barclays reduced their price target on Chevron from $216.00 to $208.00 and set an "equal weight" rating on the stock in a research report on Monday, August 17th. Royal Bank Of Canada lifted their price objective on Chevron from $220.00 to $230.00 and gave the stock an "outperform" rating in a research note on Thursday, September 24th. Finally, Argus raised their target price on Chevron from $206.00 to $211.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $210.24.

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.

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