Chevron Corporation $CVX Stock Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lifted its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 24.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 85,440 shares of the oil and gas company's stock after purchasing an additional 16,527 shares during the period. Citizens Financial Group Inc. RI's holdings in Chevron were worth $17,448,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Blue Capital Inc. bought a new position in Chevron during the second quarter valued at approximately $786,000. OneAscent Wealth Management LLC purchased a new stake in Chevron in the second quarter worth approximately $973,000. Global Retirement Partners LLC bought a new stake in Chevron in the 2nd quarter worth approximately $14,276,000. Greg Jennings LLC bought a new stake in Chevron in the 3rd quarter worth approximately $1,314,000. Finally, Ferguson Wellman Capital Management Inc. grew its position in Chevron by 0.6% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company's stock worth $186,182,000 after purchasing an additional 5,787 shares during the period. Institutional investors own 72.42% of the company's stock.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 710,665 shares of the business's 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 completion of the sale, the director owned 363,711 shares of the company's stock, valued at approximately $70,596,305.10. The trade was a 66.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Andrew Walz sold 16,800 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the sale, the insider owned 14 shares of the company's stock, valued at approximately $2,814.84. The trade was a 99.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,195,682 shares of company stock valued at $235,619,780 in the last 90 days. 0.56% of the stock is owned by company insiders.

Chevron Stock Down 0.6%

CVX opened at $231.75 on Tuesday. 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 1-year low of $146.49 and a 1-year high of $234.08. The company has a market capitalization of $457.88 billion, a PE ratio of 22.22, a PEG ratio of 0.55 and a beta of 0.53. The firm's 50 day simple moving average is $210.44 and its two-hundred day simple moving average is $191.27.

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 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 business had revenue of $67.20 billion for the quarter, compared to analysts' expectations of $62.72 billion. During the same quarter last year, the company posted $1.77 EPS. The company's revenue was up 57.4% compared to the same quarter last year. As a group, equities analysts forecast that Chevron Corporation will post 18.20 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, August 19th. Chevron's dividend payout ratio (DPR) is currently 68.26%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVX. Royal Bank Of Canada boosted their target price on shares of Chevron from $220.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, September 24th. BMO Capital Markets raised their target price on Chevron from $210.00 to $235.00 and gave the stock an "outperform" rating in a research report on Thursday, September 3rd. Raymond James Financial dropped their target price on Chevron from $230.00 to $225.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 21st. Jefferies Financial Group boosted their price target on Chevron from $216.00 to $233.00 and gave the company a "buy" rating in a research note on Monday, August 17th. Finally, Mizuho set a $234.00 price target on shares of Chevron in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.96.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron proposed investing $13.8 billion through 2035 to expand its Vaca Muerta shale operations in Argentina, with a goal of tripling oil production from its assets in the region. The plan could provide a significant long-term production and reserve-growth opportunity. Chevron Vaca Muerta expansion
• Positive Sentiment: Analysts and financial publications continue to highlight CVX’s earnings growth, price strength and momentum characteristics, supporting the view that Chevron remains attractive to momentum and income-oriented investors. Chevron earnings growth and price strength
• Positive Sentiment: Erste Group Bank reportedly increased its earnings forecast for Chevron, while unusually high call-option activity suggests some traders are positioning for further upside. Erste Group earnings forecast
• Neutral Sentiment: Chevron’s Nargis-2 well in Egypt confirmed additional gas-bearing zones, expanding offshore exploration potential, although commercial viability and production timing remain uncertain. Chevron Nargis-2 results
• Negative Sentiment: Chevron is scheduled to report third-quarter results on October 30. Analysts expect roughly a 150% year-over-year EPS increase, but the stock’s substantial year-to-date advance raises concern that strong results may already be reflected in the valuation. Chevron third-quarter earnings outlook

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.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.