Chevron Corporation $CVX Stock: Choreo LLC Grows Position

Key Points

• Choreo LLC increased its Chevron position by 3.0% in the third quarter, bringing its holdings to 144,112 shares valued at approximately $29.4 million. Institutional investors and hedge funds collectively own 72.42% of Chevron.
• Chevron delivered a strong quarter, reporting $5.28 in earnings per share and $65.24 billion in revenue, both above analyst expectations. Refining profits surged, while the company generated roughly $12 billion in free cash flow and reduced net debt by about $7.8 billion.
• Despite bullish analyst sentiment and a “Moderate Buy” consensus, risks remain: insiders sold roughly $235.6 million of shares over the past 90 days, potential downtime could reduce fourth-quarter production, and refining margins may weaken as geopolitical disruptions ease.

Choreo LLC lifted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 3.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,112 shares of the oil and gas company's stock after buying an additional 4,254 shares during the period. Choreo LLC's holdings in Chevron were worth $29,429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVX. Gemmer Asset Management LLC grew its holdings in Chevron by 1.1% in the 3rd quarter. Gemmer Asset Management LLC now owns 4,254 shares of the oil and gas company's stock valued at $869,000 after buying an additional 47 shares in the last quarter. Livet Wealth LLC grew its stake in shares of Chevron by 4.0% in the third quarter. Livet Wealth LLC now owns 1,268 shares of the oil and gas company's stock valued at $259,000 after buying an additional 49 shares in the last quarter. First PREMIER Bank raised its holdings in shares of Chevron by 0.8% in the 2nd quarter. First PREMIER Bank now owns 6,450 shares of the oil and gas company's stock valued at $1,070,000 after buying an additional 50 shares during the period. Vanguard Capital Wealth Advisors grew its holdings in shares of Chevron by 1.8% in the second quarter. Vanguard Capital Wealth Advisors now owns 2,818 shares of the oil and gas company's stock valued at $467,000 after purchasing an additional 50 shares in the last quarter. Finally, Nautilus Advisors LLC grew its holdings in shares of Chevron by 2.8% in the third quarter. Nautilus Advisors LLC now owns 1,859 shares of the oil and gas company's stock valued at $380,000 after purchasing an additional 50 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 1.8%

CVX opened at $235.62 on Friday. The business's fifty day simple moving average is $213.16 and its 200 day simple moving average is $193.07. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $236.48. The firm has a market cap of $465.53 billion, a P/E ratio of 22.59, a PEG ratio of 0.55 and a beta of 0.53. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.87 by $0.41. Chevron had a return on equity of 11.09% and a net margin of 9.57%. The firm had revenue of $65.24 billion during the quarter, compared to analyst estimates of $61.82 billion. During the same period in the prior year, the firm posted $1.85 earnings per share. The business's quarterly revenue was up 36.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron Corporation will post 18.20 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Andrew Walz sold 16,800 shares of the business's 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 transaction, the insider directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Hess sold 100,000 shares of Chevron stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the sale, the director directly owned 178,045 shares in the company, valued at $34,587,021.70. This trade represents a 35.97% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,195,682 shares of company stock valued at $235,619,780. Corporate insiders own 0.56% of the company's stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Quarterly earnings exceeded expectations. Chevron reported adjusted earnings of $5.28 per share, above the roughly $4.87-$4.89 analyst consensus, while revenue reached $65.24 billion versus estimates of $61.82 billion. Adjusted earnings of approximately $10.4 billion nearly tripled from a year earlier. Chevron tops Q3 expectations on higher downstream profit
• Positive Sentiment: Refining was the standout business. Downstream earnings climbed to nearly $4.9 billion from about $1.1 billion a year earlier as refinery outages and conflicts involving Iran and Russia reduced fuel supplies and lifted margins. Chevron beats earnings expectations as refining profits soar
• Positive Sentiment: Cash generation and the balance sheet improved. Chevron generated roughly $12 billion of free cash flow and $16 billion of operating cash flow, while reducing net debt by about $7.8 billion. This supports dividends, potential buybacks and future investment. Chevron's profit nearly tripled from a year ago
• Neutral Sentiment: Analyst sentiment has become more constructive. One valuation estimate increased from $227.71 to $232.50, with higher oil-price assumptions, strong refining results and possible Venezuela-related upside supporting revised targets. However, the stock’s rally has reduced its dividend yield for new investors. Chevron stock fair value edges higher
• Negative Sentiment: Investors face risks beyond the strong quarter. Chevron warned that downtime could reduce fourth-quarter production by approximately 225,000 barrels of oil equivalent per day. In addition, refining profits may normalize if geopolitical disruptions ease, while the stock’s elevated valuation and lingering questions about buybacks could limit further upside. Chevron says downtime could hit Q4 output

Analyst Ratings Changes

CVX has been the topic of several analyst reports. HSBC set a $90.00 target price on shares of Chevron in a report on Friday, September 25th. Morgan Stanley lifted their price target on Chevron from $218.00 to $226.00 and gave the stock an "overweight" rating in a report on Thursday, October 15th. Mizuho set a $234.00 price objective on shares of Chevron in a report on Monday, October 12th. Wall Street Zen upgraded shares of Chevron from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Zacks Research upgraded Chevron from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $213.96.

Chevron 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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