Chevron Corporation $CVX Shares Newly Bought by Sawyer & Company Inc

Key Points

• Sawyer & Company Inc. initiated a Chevron position by purchasing 12,286 shares valued at approximately $2.5 million in the third quarter. Institutional investors and hedge funds collectively own 72.42% of Chevron’s stock.
• Analysts maintain a generally positive view, with Chevron carrying a “Moderate Buy” consensus rating and an average price target of $213.96; individual targets range as high as $252.
• Chevron reported quarterly earnings of $6.06 per share, beating estimates, and continues to pay a $1.78 quarterly dividend, equivalent to a 3.1% yield. However, insiders have sold more than 1.19 million shares worth approximately $235.6 million over the past 90 days.

Sawyer & Company Inc acquired a new position in Chevron Corporation (NYSE:CVX - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,286 shares of the oil and gas company's stock, valued at approximately $2,509,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. City State Bank increased its stake in shares of Chevron by 2.7% in the third quarter. City State Bank now owns 6,512 shares of the oil and gas company's stock worth $1,330,000 after acquiring an additional 172 shares during the period. Atticus Wealth Management LLC raised its holdings in shares of Chevron by 44.5% during the third quarter. Atticus Wealth Management LLC now owns 6,936 shares of the oil and gas company's stock worth $1,416,000 after purchasing an additional 2,137 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Chevron by 1.7% during the third quarter. Quadrant Capital Group LLC now owns 48,187 shares of the oil and gas company's stock valued at $10,492,000 after purchasing an additional 784 shares during the period. Bell Bank lifted its position in Chevron by 0.5% during the third quarter. Bell Bank now owns 84,647 shares of the oil and gas company's stock valued at $17,286,000 after purchasing an additional 380 shares during the period. Finally, Newman Dignan & Sheerar Inc. boosted its holdings in Chevron by 1.2% in the third quarter. Newman Dignan & Sheerar Inc. now owns 15,681 shares of the oil and gas company's stock valued at $3,202,000 after purchasing an additional 192 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analysts Set New Price Targets

CVX has been the topic of several analyst reports. Barclays cut 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. TD Cowen boosted their price objective on Chevron from $215.00 to $225.00 and gave the company a "hold" rating in a report on Monday, October 12th. Raymond James Financial decreased their price objective on Chevron from $230.00 to $225.00 and set an "outperform" rating for the company in a report on Tuesday, July 21st. Morgan Stanley upped their target price on Chevron from $218.00 to $226.00 and gave the stock an "overweight" rating in a research note on Thursday, October 15th. Finally, Wolfe Research raised Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 target price on the stock in a report on Thursday, July 2nd. One 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 given a Sell rating to the company. According to MarketBeat, Chevron currently has an average rating of "Moderate Buy" and an average price target of $213.96.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is considering a sale of approximately $1 billion in mature U.S. Gulf of Mexico oil and gas assets. Divesting older properties could streamline operations, unlock cash and redirect capital toward newer offshore projects and long-term production growth. Chevron Eyes $1B Gulf Asset Sale to Focus on Growth Projects
• Positive Sentiment: Bank of America raised its Chevron price target to $252 from $227, adding support to investor confidence in the company’s earnings and cash-flow potential. Chevron price target raised at BofA
• Positive Sentiment: Analysts highlight CVX as a potential beneficiary of the oil rally, citing production growth, disciplined capital spending, diversified operations and a dividend supported by recurring cash flow. Oil Prices Climb: Energy Stocks Poised to Benefit
• Neutral Sentiment: Chevron’s leadership changes, including a new chief financial officer, and upcoming production and earnings updates give investors additional information to assess execution and whether higher commodity prices are translating into stronger results. Chevron’s new CFO among four executive changes
• Negative Sentiment: Director R. Pate sold 43,100 shares worth roughly $9.8 million. The transactions were made under a pre-arranged Rule 10b5-1 plan, reducing their value as a bearish signal, but the substantial reduction in ownership may weigh modestly on sentiment. Chevron insider trading filing

Chevron Stock Performance

CVX opened at $226.65 on Friday. 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 firm has a fifty day moving average price of $209.95 and a 200 day moving average price of $194.11. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $229.04. The stock has a market cap of $447.80 billion, a P/E ratio of 21.73, a P/E/G ratio of 0.54 and a beta of 0.53.

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 (EPS) for the quarter, topping analysts' consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm's quarterly revenue was up 57.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.77 earnings per share. Equities research analysts anticipate that Chevron Corporation will post 18.12 earnings per share for the current year.

Chevron Announces Dividend

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

Insider Activity

In other news, insider R. Pate sold 40,700 shares of the stock in a transaction dated 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 sale, the insider directly owned 8,791 shares of the company's stock, valued at $1,992,480.15. This represents a 82.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Hess sold 710,665 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the sale, the director directly owned 363,711 shares in the company, valued at approximately $70,596,305.10. The trade was a 66.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,195,682 shares of company stock worth $235,619,780. 0.56% of the stock is currently owned by 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.

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