Chevron Corporation $CVX Shares Purchased by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management increased its Chevron stake by 3.4% in the third quarter, adding 5,054 shares for a total of 153,070 shares valued at approximately $32.4 million. Institutional investors collectively own 72.42% of Chevron.
• Chevron reported quarterly earnings of $6.06 per share, beating estimates, while revenue rose 57.4% year over year to $67.2 billion. The company pays an annualized dividend of $7.12 per share, yielding about 3.3%.
• Chevron shares opened at $214.89, near their 52-week high, with analysts assigning a consensus “Moderate Buy” rating and a $213.08 price target. Meanwhile, insiders sold more than 1.15 million shares worth approximately $225.9 million over the prior 90 days.

NorthCrest Asset Manangement LLC boosted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 153,070 shares of the oil and gas company's stock after acquiring an additional 5,054 shares during the quarter. Chevron accounts for approximately 0.8% of NorthCrest Asset Manangement LLC's investment portfolio, making the stock its 25th biggest position. NorthCrest Asset Manangement LLC's holdings in Chevron were worth $32,382,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in Chevron in the second quarter valued at $25,663,729,000. Bank of New York Mellon Corp purchased a new stake in Chevron during the 2nd quarter worth about $2,378,114,000. Legal & General Group Plc acquired a new stake in Chevron in the 2nd quarter valued at about $1,462,412,000. Berkshire Hathaway Inc raised its position in 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 valued at $19,837,131,000 after purchasing an additional 8,091,570 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Chevron in the 2nd quarter valued at about $1,189,577,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Activity at Chevron

In other news, insider R. Pate sold 2,470 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the completion of the transaction, the insider owned 10,794 shares in the company, valued at approximately $2,213,957.34. This represents a 18.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrew Walz sold 16,800 shares of Chevron 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 sale, the insider owned 14 shares in the company, valued at $2,814.84. This represents a 99.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,152,582 shares of company stock worth $225,853,661 in the last ninety days. Company insiders own 0.56% of the company's stock.

Chevron Trading Up 1.4%

CVX opened at $214.89 on Tuesday. Chevron Corporation has a one year low of $146.49 and a one year high of $217.78. The company has a market cap of $424.57 billion, a P/E ratio of 20.60, a PEG ratio of 0.59 and a beta of 0.53. 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 business's 50-day simple moving average is $204.94 and its 200-day simple moving average is $193.04.

Chevron (NYSE:CVX - Get Free Report) last posted 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. Chevron had a return on equity of 11.09% and a net margin of 9.57%. The firm's revenue was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.77 earnings per share. As a group, equities research analysts expect that Chevron Corporation will post 17.34 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were issued a dividend of $1.78 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.3%. Chevron's dividend payout ratio (DPR) is presently 68.26%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVX. Barclays lowered their price objective on Chevron from $216.00 to $208.00 and set an "equal weight" rating for the company in a research report on Monday, August 17th. Bank of America raised 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. HSBC set a $90.00 price target on shares of Chevron in a research note on Friday, September 25th. JPMorgan Chase & Co. boosted their price target on shares of Chevron from $190.00 to $222.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Finally, Raymond James Financial dropped their price objective on shares of Chevron from $230.00 to $225.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.08.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was added to Zacks’ Rank #1 (Strong Buy) income-stocks list, reinforcing the appeal of its dividend and operating outlook. Best Income Stocks to Buy for October 13th
• Positive Sentiment: TD Cowen raised its Chevron price target from $215 to $225 while maintaining a Hold rating. The higher target reflects potential upside supported by production growth, cost savings and cash flow. Chevron Stock Gets Price Target Increase from TD Cowen
• Positive Sentiment: Chevron and Egypt are advancing discussions surrounding Cyprus’ Aphrodite gas field and pipeline, including commercial agreements, long-lead procurement and a potential final investment decision. Progress could create a longer-term international gas-growth catalyst. Chevron and Egypt Discuss Next Steps for Aphrodite Gas Pipeline
• Positive Sentiment: Analysts continue to cite Chevron’s strong cash flow, expanding production, cost reductions, Hess integration and upbeat 2026 earnings expectations. The stock has outperformed the broader energy industry over recent months. CVX Outpaces Industry in Past 6 Months
• Neutral Sentiment: Chevron’s planned January 2027 leadership changes will make Jeff Gustavson CFO and move current CFO Eimear Bonner to lead Oil, Products & Gas. The restructuring ties New Energies more closely to the core business, but execution risks remain. Chevron CFO Shake-Up
• Negative Sentiment: Hurricane-related shutdowns temporarily disrupted U.S. Gulf oil production, although Chevron and other major producers are restoring output. The interruption could weigh on near-term volumes and earnings. U.S. Gulf Oil Production Restored After Hurricane
• Negative Sentiment: Chevron’s CEO warned that restrictions on diesel and fuel exports could backfire, potentially tightening regional supply and creating unfavorable market distortions. Separately, the average reported price target of $213.08 is slightly below the stock’s opening price, suggesting limited consensus upside. Chevron CEO Warns Against Diesel and Fuel Export Decision

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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