8,815 Shares of Chevron Corporation $CVX Bought by Leo Wealth LLC

Key Points

• Leo Wealth LLC purchased 8,815 Chevron shares worth approximately $1.8 million during the third quarter. Institutional investors collectively own 72.42% of Chevron.
• Chevron insiders sold 1.2 million shares valued at roughly $235.6 million in the last quarter, including significant reductions by Director John Hess and insider Andrew Walz.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $213.96, while Chevron’s latest quarterly results exceeded expectations with $6.06 in EPS and $67.2 billion in revenue.

Leo Wealth LLC purchased a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,815 shares of the oil and gas company's stock, valued at approximately $1,800,000.

Several other hedge funds have also made changes to their positions in the stock. Blue Capital Inc. bought a new position in shares of Chevron during the 2nd quarter valued at about $786,000. OneAscent Wealth Management LLC acquired a new position in shares of Chevron in the 2nd quarter worth approximately $973,000. Global Retirement Partners LLC bought a new stake in shares of Chevron in the 2nd quarter worth approximately $14,276,000. Greg Jennings LLC bought a new stake in shares of Chevron in the 3rd quarter worth approximately $1,314,000. Finally, Ferguson Wellman Capital Management Inc. raised its holdings 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 worth $186,182,000 after purchasing an additional 5,787 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Insider Activity

In other news, Director John B. Hess sold 100,000 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the sale, the director owned 178,045 shares of the company's stock, valued at $34,587,021.70. This trade represents a 35.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Andrew Walz sold 16,800 shares of Chevron stock in a transaction on Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider owned 14 shares in the company, valued at $2,814.84. This represents a 99.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,195,682 shares of company stock worth $235,619,780 in the last quarter. Insiders own 0.56% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on CVX shares. Raymond James Financial reduced their target price on shares of Chevron from $230.00 to $225.00 and set an "outperform" rating for the company in a report on Tuesday, July 21st. UBS Group upped their price target on Chevron from $220.00 to $235.00 and gave the company a "buy" rating in a report on Thursday, October 8th. HSBC set a $90.00 price objective on Chevron in a research report on Friday, September 25th. Morgan Stanley raised their price objective on Chevron from $218.00 to $226.00 and gave the stock an "overweight" rating in a research note on Thursday, October 15th. Finally, Jefferies Financial Group raised their price objective on Chevron from $216.00 to $233.00 and gave the stock a "buy" rating in a research note on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $213.96.

Chevron Trading Down 1.6%

CVX stock opened at $228.18 on Wednesday. Chevron Corporation has a one year low of $146.49 and a one year high of $234.08. The firm has a 50-day moving average of $211.59 and a two-hundred day moving average of $192.01. The firm has a market capitalization of $450.84 billion, a PE ratio of 21.88 and a beta of 0.53.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion during the quarter, compared to analysts' expectations of $62.72 billion. The business's revenue was up 57.4% on a year-over-year basis. During the same period last year, the business earned $1.77 earnings per share. On average, equities research analysts anticipate that Chevron Corporation will post 18.20 earnings per share for the current year.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reported a “high-quality” natural-gas discovery offshore Egypt. The find could expand the company’s Egyptian resource base and support future production growth, although commercial development details are not yet available. Chevron makes high-quality gas discovery offshore Egypt
• Positive Sentiment: Chevron Australia agreed to supply South32 with 55 petajoules of natural gas over five years beginning in 2028. The long-term contract provides additional visibility for Chevron’s Australian gas business and supports demand from Worsley Alumina operations. Chevron Australian natural gas agreement
• Positive Sentiment: Chevron outlined a proposed $13.8 billion investment through 2035 to expand its Vaca Muerta operations in Argentina, with a goal of tripling oil production from its assets there. The plan offers a long-term production-growth opportunity, though it also requires substantial capital and carries regional execution risk. Chevron Vaca Muerta expansion
• Positive Sentiment: Exchange-traded funds recorded approximately $50.5 million in net buying of CVX on October 23, indicating continued institutional or passive-investment demand. Chevron ETF buying
• Neutral Sentiment: Analysts expect a sharp year-over-year rebound in third-quarter earnings, supported by stronger energy prices. However, the anticipated improvement may already be reflected in CVX’s valuation following its recent rally. Chevron expected earnings rebound
• Negative Sentiment: Investor commentary suggests that, despite attractive dividends and buybacks, CVX may offer less near-term upside after Brent crude rose above $115 and the shares approached their 12-month high. This backdrop can encourage investors to wait for earnings or lock in gains. Chevron dividend and buyback commentary
• Negative Sentiment: The principal near-term risk is the October 30 earnings report: elevated expectations leave less room for an earnings miss, cautious guidance, or weaker production and refining results to be received positively.

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.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.