Chevron Corporation $CVX Stock Holdings Increased by Bernardo Wealth Planning LLC

Key Points

• Bernardo Wealth Planning LLC more than doubled its Chevron stake in the third quarter, increasing holdings by 111.5% to 9,206 shares valued at approximately $1.88 million. Institutional investors collectively own 72.42% of Chevron.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $213.96. Chevron recently reported better-than-expected quarterly earnings and maintains a $7.12 annualized dividend, yielding about 3.1%.
• Chevron shares opened at $231.75, near their 52-week high, while insiders—including CEO Michael Wirth—made substantial stock sales in the latest quarter, signaling a potential cautionary factor for investors.

Bernardo Wealth Planning LLC raised its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 111.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,206 shares of the oil and gas company's stock after buying an additional 4,854 shares during the quarter. Bernardo Wealth Planning LLC's holdings in Chevron were worth $1,880,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. State Street Corp raised its holdings in shares of Chevron by 3.9% during the second quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company's stock valued at $28,016,651,000 after purchasing an additional 5,998,852 shares during the last quarter. BlackRock Inc. purchased a new stake in Chevron in the second quarter worth approximately $25,663,729,000. Bank of America Corp DE boosted its holdings in Chevron by 5.1% in the first quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company's stock worth $5,716,694,000 after purchasing an additional 1,334,976 shares during the last quarter. Amundi grew its position in Chevron by 3.0% in the 1st quarter. Amundi now owns 12,185,436 shares of the oil and gas company's stock worth $2,521,166,000 after purchasing an additional 349,416 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Chevron in the 2nd quarter worth approximately $2,378,114,000. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. BMO Capital Markets upped their price target on shares of Chevron from $210.00 to $235.00 and gave the company an "outperform" rating in a research report on Thursday, September 3rd. The Goldman Sachs Group reissued a "buy" rating and issued a $241.00 price objective on shares of Chevron in a report on Tuesday, October 20th. Wall Street Zen upgraded shares of Chevron from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Piper Sandler boosted their target price on shares of Chevron from $207.00 to $243.00 and gave the company an "overweight" rating in a research report on Thursday, September 3rd. Finally, Morgan Stanley upped their target price on shares of Chevron from $218.00 to $226.00 and gave the company an "overweight" rating in a report on Thursday, October 15th. One equities 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $213.96.

Chevron Price Performance

Shares of NYSE:CVX opened at $231.75 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. 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 P/E ratio of 21.51, a P/E/G 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 posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping analysts' consensus estimates of $5.55 by $0.51. The business had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company's revenue was up 57.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.77 earnings per share. Research analysts expect that Chevron Corporation will post 18.20 EPS for the current fiscal year.

Chevron Announces Dividend

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

Key Headlines Impacting 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

Insider Activity

In other Chevron news, insider Andrew Walz sold 16,800 shares of the stock in a transaction on 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 in the company, valued at approximately $2,814.84. This represents a 99.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the sale, the chief executive officer owned 26,308 shares of the company's stock, valued at $5,273,701.68. The trade was a 92.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,195,682 shares of company stock worth $235,619,780 in the last quarter. Corporate insiders own 0.56% of the company's stock.

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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