Chevron Corporation $CVX Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lessened its stake in Chevron Corporation (NYSE:CVX - Free Report) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 447,972 shares of the oil and gas company's stock after selling 22,783 shares during the period. Chevron comprises approximately 1.1% of Douglas Lane & Associates LLC's investment portfolio, making the stock its 25th largest holding. Douglas Lane & Associates LLC's holdings in Chevron were worth $91,480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Midwest Capital Advisors LLC acquired a new position in shares of Chevron in the first quarter worth $25,000. Main Street Group LTD acquired a new stake in Chevron in the first quarter valued at $28,000. Phillip James Consulting Co. purchased a new position in Chevron in the 4th quarter valued at about $26,000. Kilter Group LLC purchased a new stake in Chevron in the 2nd quarter valued at about $28,000. Finally, Basso Capital Management L.P. acquired a new position in shares of Chevron in the 4th quarter valued at about $27,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices support the stock. Crude oil moved above $92.60 amid concerns about Middle East supply disruptions, helping lift energy shares. UBS also raised its Chevron price target to $235. Why Is Chevron Stock Surging on Thursday?
• Positive Sentiment: Analyst support remains favorable. Piper Sandler maintained its Buy rating, while other recent research has highlighted Chevron’s cash generation, shareholder returns and potential for stronger returns from portfolio changes. Piper Sandler Sticks to Their Buy Rating for Chevron
• Positive Sentiment: The Hess Midstream restructuring could improve Chevron’s cost structure. Chevron is transferring its Hess Midstream interests and DJ Basin assets in exchange for revised Bakken contracts. The transaction is expected to reduce Bakken midstream costs by roughly 50%, eliminate approximately $3.7 billion of associated debt and simplify the portfolio. Chevron's Portfolio Reshaping Strategy to Unlock Stronger Returns
• Neutral Sentiment: Analyst opinions are mixed. Although Piper Sandler remains bullish, broader coverage reflects differing views on Chevron and the energy sector, limiting the impact of any single rating. Analysts’ Opinions Are Mixed on Chevron
• Negative Sentiment: The restructuring carries a sizable near-term charge. Reports estimate Chevron could absorb a $3 billion–$4 billion closing loss, while Hess Midstream’s revised contracts indicate lower future volumes and earnings. Chevron Is Offloading Hess Midstream
• Negative Sentiment: Storm-related shutdowns create temporary operating risk. Chevron shut in four Gulf of Mexico facilities as Tropical Storm Isaias approached. The disruption may reduce near-term production, although tighter fuel markets and higher prices could partly offset the impact. Chevron Shuts In Four Gulf Facilities

Analysts Set New Price Targets

Several research analysts have recently commented on the company. BNP Paribas Exane decreased their target price on Chevron from $230.00 to $224.00 and set an "outperform" rating for the company in a research report on Friday, July 17th. Bank of America lifted their target price on shares of Chevron from $210.00 to $227.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Jefferies Financial Group increased their price target on shares of Chevron from $216.00 to $233.00 and gave the stock a "buy" rating in a research report on Monday, August 17th. Barclays reduced their target price on shares of Chevron from $216.00 to $208.00 and set an "equal weight" rating on the stock in a research report on Monday, August 17th. Finally, The Goldman Sachs Group lowered their price objective on shares of Chevron from $240.00 to $228.00 and set a "buy" rating for the company in a research report on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned 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 presently has a consensus rating of "Moderate Buy" and an average price target of $210.24.

Insider Transactions at Chevron

In other news, insider Andrew Walz sold 16,800 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 14 shares in the company, valued at approximately $2,814.84. This represents a 99.92% decrease in their position. 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 that occurred 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 transaction, the insider directly owned 10,794 shares in the company, valued at approximately $2,213,957.34. This represents a 18.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,152,582 shares of company stock worth $225,853,661. 0.56% of the stock is owned by insiders.

Chevron Stock Up 0.6%

CVX traded up $1.18 during mid-day trading on Friday, reaching $212.73. 2,288,987 shares of the stock were exchanged, compared to its average volume of 10,459,173. The stock has a market capitalization of $420.31 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 0.57 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 company has a 50 day moving average price of $204.21 and a two-hundred day moving average price of $192.94. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $217.78.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. The business had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.Chevron's revenue for the quarter was up 57.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.77 earnings per share. As a group, research analysts anticipate that Chevron Corporation will post 17.47 EPS for the current year.

Chevron Dividend Announcement

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

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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