Chevron Corporation $CVX Stock Bought by Asset Management One Co. Ltd.

Key Points

• Asset Management One increased its Chevron stake by 1.8% in the third quarter, adding 16,352 shares to hold 945,475 shares valued at approximately $193.1 million. Institutional investors collectively own 72.42% of Chevron.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $213.96, although targets range from $208 to $233.
• Chevron shares opened at $231.32, near their 12-month high, while investors await earnings and assess stronger oil prices, cash generation and shareholder returns. Recent insider selling totaled about 1.2 million shares worth $235.6 million over three months.

Asset Management One Co. Ltd. boosted its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 945,475 shares of the oil and gas company's stock after purchasing an additional 16,352 shares during the period. Asset Management One Co. Ltd.'s holdings in Chevron were worth $193,075,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVX. Lynch Investment Planning LLC bought a new position in Chevron during the 3rd quarter valued at approximately $100,000. Latitude Advisors LLC grew its position in shares of Chevron by 16.1% in the 3rd quarter. Latitude Advisors LLC now owns 2,167 shares of the oil and gas company's stock worth $443,000 after buying an additional 301 shares during the last quarter. Balance Wealth Partners LLC purchased a new position in shares of Chevron during the third quarter valued at approximately $154,000. Investment Advisory Services Inc. TX ADV raised its holdings in shares of Chevron by 2.3% during the third quarter. Investment Advisory Services Inc. TX ADV now owns 17,674 shares of the oil and gas company's stock valued at $3,609,000 after acquiring an additional 395 shares in the last quarter. Finally, Insight Inv LLC lifted its stake in Chevron by 11.2% in the third quarter. Insight Inv LLC now owns 19,205 shares of the oil and gas company's stock worth $3,922,000 after acquiring an additional 1,928 shares during the period. Institutional investors own 72.42% of the company's stock.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil and natural-gas prices could support a strong quarterly performance. Analysts expect approximately $4.83 in adjusted EPS and $61.65 billion in revenue, while other previews suggest Chevron may beat estimates. Oil Stocks in Spotlight Friday: Chevron, ExxonMobil, BP Could Show Impact of Higher Gas Prices
• Positive Sentiment: Investors will focus on whether the oil-price surge translated into free cash flow and shareholder returns. Chevron’s strong production, Hess integration benefits and improved cash generation are supporting the bullish case. Chevron Hit a Record High. Friday’s Report Has to Show Where the Oil-Spike Cash Went
• Positive Sentiment: TotalEnergies is acquiring a 25% interest in 26 Chevron-operated offshore exploration leases in the U.S. Gulf. The partnership helps share exploration costs while expanding Chevron’s offshore portfolio. TotalEnergies Expands US Exploration Footprint With 26 Offshore Leases
• Neutral Sentiment: Options activity indicates potential for a post-earnings rally, but the stock is already near a record high, raising the bar for a positive surprise. Investors will also assess dividend sustainability and the outlook for oil prices. Ahead of Chevron Earnings, Here's What Barchart Data Says Comes Next for CVX Stock
• Negative Sentiment: Chevron canceled plans for executives to attend the ADIPEC conference in the United Arab Emirates because of security concerns. The decision is unlikely to materially affect earnings but highlights continuing geopolitical risks to operations and travel. Exxon, Chevron cancel ADIPEC executive trips, sources say

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Argus lifted their price target on shares of Chevron from $206.00 to $211.00 and gave the company 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 for the company. Jefferies Financial Group lifted their target price on shares of Chevron from $216.00 to $233.00 and gave the company a "buy" rating in a research note on Monday, August 17th. Barclays decreased their price target on shares of Chevron from $216.00 to $208.00 and set an "equal weight" rating for the company in a research note on Monday, August 17th. Finally, Wells Fargo & Company lifted their price objective on Chevron from $226.00 to $230.00 and gave the company an "overweight" rating in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $213.96.

Insider Buying and Selling at Chevron

In other news, insider Andrew Walz sold 16,800 shares of Chevron 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 transaction, the insider directly owned 14 shares in the company, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R. Pate sold 40,700 shares of Chevron stock in a transaction that occurred on 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 transaction, the insider owned 8,791 shares of the company's stock, valued at $1,992,480.15. The trade was a 82.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,195,682 shares of company stock worth $235,619,780. Insiders own 0.56% of the company's stock.

Chevron Price Performance

CVX opened at $231.32 on Friday. The stock has a fifty day simple moving average of $212.56 and a two-hundred day simple moving average of $192.70. The company has a market cap of $457.03 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 0.54 and a beta of 0.53. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $234.08.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same period last year, the business earned $1.77 EPS. Chevron's quarterly revenue was up 57.4% compared to the same quarter last year. Research analysts predict that Chevron Corporation will post 18.20 earnings per share for the current fiscal year.

About Chevron

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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