BG Investment Services LLC Makes New $1.44 Million Investment in Chevron Corporation $CVX

Key Points

• BG Investment Services LLC acquired 7,063 Chevron shares worth approximately $1.44 million during the third quarter. Institutional investors collectively own 72.42% of Chevron’s stock.
• Chevron is pursuing significant growth opportunities, including a proposed $13.8 billion Vaca Muerta investment in Argentina aimed at tripling regional oil production, while Egypt’s Nargis-2 well expanded its offshore gas potential.
• Analysts maintain a generally positive outlook, with Chevron holding a consensus “Moderate Buy” rating and a $213.96 price target. However, shares near their 52-week high and upcoming earnings have raised concerns that strong results may already be priced in.

BG Investment Services LLC acquired a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,063 shares of the oil and gas company's stock, valued at approximately $1,442,000.

Several other institutional investors have also recently bought and sold shares of CVX. Citizens Financial Group Inc. RI lifted its position in shares of Chevron by 24.0% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 85,440 shares of the oil and gas company's stock worth $17,448,000 after purchasing an additional 16,527 shares during the last quarter. Simplicity Wealth LLC grew its stake in shares of Chevron by 10.8% in the 3rd quarter. Simplicity Wealth LLC now owns 91,125 shares of the oil and gas company's stock valued at $18,609,000 after purchasing an additional 8,903 shares during the period. Ascent Wealth Partners LLC raised its stake in Chevron by 2.7% during the third quarter. Ascent Wealth Partners LLC now owns 6,431 shares of the oil and gas company's stock worth $1,313,000 after acquiring an additional 168 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in Chevron by 1.2% during the 3rd quarter. Evergreen Capital Management LLC now owns 50,164 shares of the oil and gas company's stock valued at $10,244,000 after purchasing an additional 591 shares during the last quarter. Finally, Mascoma Wealth Management LLC raised its stake in shares of Chevron by 127.5% in the third quarter. Mascoma Wealth Management LLC now owns 678 shares of the oil and gas company's stock valued at $138,000 after acquiring an additional 380 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron proposed investing $13.8 billion through 2035 to expand its Vaca Muerta shale operations in Argentina, with a goal of tripling oil production from its assets in the region. The plan could provide a significant long-term production and reserve-growth opportunity. Chevron Vaca Muerta expansion
• Positive Sentiment: Analysts and financial publications continue to highlight CVX’s earnings growth, price strength and momentum characteristics, supporting the view that Chevron remains attractive to momentum and income-oriented investors. Chevron earnings growth and price strength
• Positive Sentiment: Erste Group Bank reportedly increased its earnings forecast for Chevron, while unusually high call-option activity suggests some traders are positioning for further upside. Erste Group earnings forecast
• Neutral Sentiment: Chevron’s Nargis-2 well in Egypt confirmed additional gas-bearing zones, expanding offshore exploration potential, although commercial viability and production timing remain uncertain. Chevron Nargis-2 results
• Negative Sentiment: Chevron is scheduled to report third-quarter results on October 30. Analysts expect roughly a 150% year-over-year EPS increase, but the stock’s substantial year-to-date advance raises concern that strong results may already be reflected in the valuation. Chevron third-quarter earnings outlook

Analyst Ratings Changes

CVX has been the topic of several research reports. 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. BNP Paribas Exane dropped their price objective on Chevron from $230.00 to $224.00 and set an "outperform" rating for the company in a report on Friday, July 17th. Mizuho set a $234.00 price target on shares of Chevron in a research report on Monday, October 12th. The Goldman Sachs Group reissued a "buy" rating and set a $241.00 price objective on shares of Chevron in a research note on Tuesday, October 20th. Finally, Piper Sandler increased their target price on shares of Chevron from $207.00 to $243.00 and gave the stock an "overweight" rating in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Chevron currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.96.

Chevron Stock Down 0.6%

Shares of Chevron stock opened at $231.75 on Tuesday. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $234.08. The business has a 50-day moving average of $210.44 and a two-hundred day moving average of $191.27. The company has a market capitalization of $457.88 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 0.55 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.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping analysts' consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%. The company had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same quarter last year, the firm posted $1.77 earnings per share. Chevron's revenue was up 57.4% compared to the same quarter last year. As a group, equities analysts predict that Chevron Corporation will post 18.20 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, August 19th. Chevron's dividend payout ratio is presently 68.26%.

Insiders Place Their Bets

In other Chevron news, CEO Michael Wirth sold 317,100 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider R. Pate sold 40,700 shares of Chevron stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the completion of the transaction, the insider directly owned 8,791 shares in the company, valued at approximately $1,992,480.15. The trade was a 82.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,195,682 shares of company stock valued at $235,619,780 in the last quarter. 0.56% of the stock is owned by company insiders.

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.

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.