Blueprint Investment Partners LLC Purchases 11,294 Shares of Chevron Corporation $CVX

Key Points

• Blueprint Investment Partners purchased 11,294 Chevron shares worth approximately $2.3 million, while institutional investors collectively own 72.42% of the company.
• Chevron significantly beat third-quarter expectations, reporting $5.28 in adjusted EPS and $65.24 billion in revenue. Refining profits surged, helping adjusted earnings nearly triple year over year, while the company generated about $12 billion in free cash flow and reduced net debt.
• Despite strong results and a “Moderate Buy” analyst consensus, Chevron faces risks from production downtime, potentially weaker refining margins, elevated valuation and substantial recent insider selling.

Blueprint Investment Partners LLC purchased a new position 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 purchased 11,294 shares of the oil and gas company's stock, valued at approximately $2,306,000.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Chevron in the second quarter valued at $25,663,729,000. Bank of New York Mellon Corp purchased a new position in Chevron during the second quarter worth about $2,378,114,000. Legal & General Group Plc acquired a new stake in Chevron in the 2nd quarter worth about $1,462,412,000. Deutsche Bank AG acquired a new stake in Chevron in the 2nd quarter worth about $1,189,577,000. Finally, State Street Corp boosted its stake in Chevron by 3.9% in the 2nd quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company's stock worth $28,016,651,000 after buying an additional 5,998,852 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Quarterly earnings exceeded expectations. Chevron reported adjusted earnings of $5.28 per share, above the roughly $4.87-$4.89 analyst consensus, while revenue reached $65.24 billion versus estimates of $61.82 billion. Adjusted earnings of approximately $10.4 billion nearly tripled from a year earlier. Chevron tops Q3 expectations on higher downstream profit
• Positive Sentiment: Refining was the standout business. Downstream earnings climbed to nearly $4.9 billion from about $1.1 billion a year earlier as refinery outages and conflicts involving Iran and Russia reduced fuel supplies and lifted margins. Chevron beats earnings expectations as refining profits soar
• Positive Sentiment: Cash generation and the balance sheet improved. Chevron generated roughly $12 billion of free cash flow and $16 billion of operating cash flow, while reducing net debt by about $7.8 billion. This supports dividends, potential buybacks and future investment. Chevron's profit nearly tripled from a year ago
• Neutral Sentiment: Analyst sentiment has become more constructive. One valuation estimate increased from $227.71 to $232.50, with higher oil-price assumptions, strong refining results and possible Venezuela-related upside supporting revised targets. However, the stock’s rally has reduced its dividend yield for new investors. Chevron stock fair value edges higher
• Negative Sentiment: Investors face risks beyond the strong quarter. Chevron warned that downtime could reduce fourth-quarter production by approximately 225,000 barrels of oil equivalent per day. In addition, refining profits may normalize if geopolitical disruptions ease, while the stock’s elevated valuation and lingering questions about buybacks could limit further upside. Chevron says downtime could hit Q4 output

Insider Transactions at Chevron

In related news, insider Andrew Walz sold 16,800 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the sale, the insider owned 14 shares of the company's stock, valued at approximately $2,814.84. This represents a 99.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R. Pate sold 40,700 shares of the stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the sale, the insider directly owned 8,791 shares of the company's stock, valued at approximately $1,992,480.15. This trade represents a 82.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,195,682 shares of company stock worth $235,619,780 over the last 90 days. Company insiders own 0.56% of the company's stock.

Chevron Price Performance

CVX stock opened at $235.62 on Friday. The stock has a 50-day moving average price of $213.16 and a two-hundred day moving average price of $193.07. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $236.48. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The company has a market cap of $465.53 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 0.55 and a beta of 0.53.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, topping the consensus estimate of $4.87 by $0.41. The company had revenue of $65.24 billion during the quarter, compared to analyst estimates of $61.82 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%. The firm's revenue was up 36.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.85 earnings per share. As a group, research analysts predict that Chevron Corporation will post 18.20 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on CVX. Sanford C. Bernstein lifted their price target on Chevron from $204.00 to $209.00 and gave the company a "market perform" rating in a report on Monday, August 3rd. Argus increased their price objective on shares of Chevron from $206.00 to $211.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. William Blair began coverage on shares of Chevron in a research report on Wednesday. They issued an "outperform" rating on the stock. Wall Street Zen upgraded shares of Chevron from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Piper Sandler boosted their target price on shares of Chevron from $207.00 to $243.00 and gave the company an "overweight" rating in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.96.

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.

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