Chevron Corporation $CVX Shares Bought by Castle Rock Wealth Management LLC

Key Points

• Castle Rock Wealth Management increased its Chevron stake by 10.4% in the third quarter, ending with 96,199 shares worth approximately $19.97 million. Institutional investors collectively own 72.42% of Chevron.
• Chevron reported quarterly earnings of $6.06 per share, exceeding the $5.55 consensus estimate, while revenue rose 57.4% year over year to $67.2 billion. The company also maintains a $1.78 quarterly dividend, equivalent to a 3.4% annualized yield.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $210.24 average price target; UBS recently raised its target to $235. Higher oil prices support the outlook, though storm-related disruptions, policy risks and substantial insider selling remain concerns.

Castle Rock Wealth Management LLC lifted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 10.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,199 shares of the oil and gas company's stock after buying an additional 9,073 shares during the period. Chevron makes up approximately 3.8% of Castle Rock Wealth Management LLC's holdings, making the stock its 5th largest holding. Castle Rock Wealth Management LLC's holdings in Chevron were worth $19,969,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp raised its stake in shares of Chevron by 3.9% during the second quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company's stock valued at $28,016,651,000 after acquiring an additional 5,998,852 shares during the last quarter. BlackRock Inc. bought a new position in Chevron in the 2nd quarter worth $25,663,729,000. Berkshire Hathaway Inc lifted its position in shares of Chevron by 6.6% in the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock worth $19,837,131,000 after purchasing an additional 8,091,570 shares during the period. Bank of America Corp DE lifted its holdings in Chevron by 5.1% in the first quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company's stock worth $5,716,694,000 after buying an additional 1,334,976 shares during the period. Finally, Invesco Ltd. raised its position in shares of Chevron by 1.5% in the 4th quarter. Invesco Ltd. now owns 17,119,575 shares of the oil and gas company's stock worth $2,609,194,000 after acquiring an additional 254,323 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices support earnings: Crude’s rise, driven by geopolitical supply concerns, has strengthened the investment case for Chevron and helped lift the broader energy sector. UBS reportedly raised its Chevron price target to $235. Why Is Chevron Stock Surging on Thursday?
• Positive Sentiment: Analyst and research support: Piper Sandler maintained its Buy rating, while Zacks highlighted Chevron as its Bull of the Day. Commentary also points to strong cash generation, rising estimates and shareholder returns as reasons to remain constructive. Piper Sandler Sticks to Their Buy Rating for Chevron
• Positive Sentiment: Portfolio optimization: Chevron agreed to sell Hess Midstream and DJ Basin assets to Hess Midstream for revised Bakken contracts and approximately $200 million in cash. The transaction is intended to reduce costs and streamline the portfolio, with reports citing potential cost reductions of about 50%. Hess Midstream Acquires Chevron DJ Basin Assets, Restructures
• Neutral Sentiment: Gulf storm response: Chevron has evacuated workers and shut in production at four Gulf facilities as Hurricane Isaias approaches. Temporary supply reductions could support fuel and crude prices, but the storm also creates risks of operational delays, refinery disruptions and higher logistics costs. Shell, Chevron, BP Pull Crews as Hurricane Isaias Barrels Toward Gulf Coast Refineries
• Negative Sentiment: Mixed analyst views and policy risk: Some analysts remain cautious, and CEO Mike Wirth warned against a diesel-export ban, arguing that restricting exports could distort fuel markets and harm supply. The Hess Midstream deal also reduces near-term earnings expectations for that partner, underscoring execution and valuation uncertainty. Chevron CEO Warns White House Against Diesel Export Ban

Chevron Price Performance

CVX opened at $211.87 on Friday. The company's 50-day simple moving average is $204.50 and its two-hundred day simple moving average is $193.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The stock has a market capitalization of $418.60 billion, a P/E ratio of 20.31, a P/E/G ratio of 0.59 and a beta of 0.53. Chevron Corporation has a 52-week low of $146.49 and a 52-week 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 EPS for the quarter, topping analysts' consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion during 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 for the quarter was up 57.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.77 earnings per share. As a group, analysts predict that Chevron Corporation will post 17.47 EPS for the current year.

Chevron Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CVX. TD Cowen upped their price target on Chevron from $205.00 to $215.00 and gave the stock a "hold" rating in a research note on Monday, September 28th. Mizuho set a $224.00 price objective on Chevron in a research report on Monday, August 3rd. Bank of America boosted their target price on shares of Chevron from $210.00 to $227.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Morgan Stanley lifted their price target on shares of Chevron from $210.00 to $218.00 and gave the company an "overweight" rating in a research report on Wednesday, August 19th. Finally, UBS Group boosted their price objective on shares of Chevron from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Thursday. One 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.24.

Insider Transactions at Chevron

In related news, insider Andrew Walz sold 16,800 shares of the company's stock in a transaction on 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 sale, the insider owned 14 shares in the company, valued at approximately $2,814.84. This represents a 99.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R. Pate sold 2,470 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the sale, the insider owned 10,794 shares of the company's stock, valued at approximately $2,213,957.34. This represents a 18.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,152,582 shares of company stock valued at $225,853,661 over the last 90 days. 0.56% of the stock is owned by corporate insiders.

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.

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