Perpetual Ltd Sells 21,205 Shares of Chevron Corporation $CVX

Key Points

• Perpetual Ltd reduced its Chevron stake by 5.8%, selling 21,205 shares in the third quarter and retaining 343,895 shares worth approximately $70.2 million. Institutional investors collectively own 72.42% of Chevron.
• Analyst sentiment remains favorable, with Chevron holding a “Moderate Buy” consensus rating and an average price target of $213.08, supported by multiple buy or overweight recommendations.
• Chevron reported quarterly revenue of $67.2 billion and EPS of $6.06, both ahead of expectations, while maintaining a quarterly dividend of $1.78, equivalent to a 3.3% annualized yield.

Perpetual Ltd decreased its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 5.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 343,895 shares of the oil and gas company's stock after selling 21,205 shares during the period. Chevron makes up about 1.1% of Perpetual Ltd's holdings, making the stock its 26th biggest holding. Perpetual Ltd's holdings in Chevron were worth $70,227,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Midwest Capital Advisors LLC bought a new stake in Chevron in the first quarter worth $25,000. Phillip James Consulting Co. purchased a new stake in Chevron during the fourth quarter valued at about $26,000. Basso Capital Management L.P. bought a new position in shares of Chevron during the fourth quarter valued at about $27,000. Main Street Group LTD bought a new position in shares of Chevron during the first quarter valued at about $28,000. Finally, Kilter Group LLC bought a new position in shares of Chevron during the second quarter valued at about $28,000. Institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

CVX has been the topic of several analyst reports. The Goldman Sachs Group decreased their price objective on Chevron from $240.00 to $228.00 and set a "buy" rating on the stock in a report on Tuesday, September 22nd. HSBC set a $90.00 target price on Chevron in a report on Friday, September 25th. Zacks Research upgraded Chevron from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 5th. BNP Paribas Exane reduced their price target on Chevron from $230.00 to $224.00 and set an "outperform" rating on the stock in a research report on Friday, July 17th. Finally, Piper Sandler lifted their price target on Chevron from $207.00 to $243.00 and gave the stock an "overweight" rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $213.08.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: TD Cowen raised its price target to $225 from $215, while maintaining a “hold” rating. The new target implies additional upside and signals that the firm sees Chevron’s valuation and operating outlook as somewhat stronger than previously expected. Chevron Stock Gets Price Target Increase from TD Cowen
• Positive Sentiment: Chevron and Egypt are advancing the Aphrodite gas pipeline project. Progress toward commercial agreements, long-lead equipment purchases and a final investment decision could support Chevron’s longer-term production and international gas growth. Chevron and Egypt Discuss Next Steps for Aphrodite Gas Pipeline
• Positive Sentiment: Chevron is outperforming the broader energy sector. Analysts point to strong cash flow, expanding production, cost savings and constructive 2026 earnings expectations as reasons to remain bullish on CVX. CVX Outpaces Industry in Past 6 Months
• Positive Sentiment: U.S. Gulf oil production is being restored after the hurricane. The restart by Chevron and other major producers should reduce the duration of the output disruption and limit its impact on operating results. BP, Shell and Chevron Restoring U.S. Gulf Oil Production
• Neutral Sentiment: Chevron’s planned January 2027 leadership changes link New Energies more closely with its core oil and gas operations. The CFO transition and expanded operating responsibilities could improve strategic integration, although investors may wait for evidence that the changes produce better returns. Chevron CFO Shake-Up and New Energies Strategy
• Negative Sentiment: Hurricane shutdowns temporarily interrupted Gulf of Mexico output. Although production is restarting, the disruption may weigh on near-term volumes and earnings. Chevron Could Be Undervalued After Hurricane Disruptions
• Negative Sentiment: Chevron’s CEO criticized potential diesel and fuel-export restrictions, warning that the policy could backfire by tightening supply and increasing market volatility. Such restrictions could also complicate refining and trading operations. Chevron CEO Says Fuel Export Decision Is Unwise

Insider Transactions at Chevron

In other Chevron news, insider Andrew Walz sold 16,800 shares of the company'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 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 is accessible through the SEC website. Also, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 26,308 shares of the company's stock, valued at $5,273,701.68. This represents a 92.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,152,582 shares of company stock valued at $225,853,661. Insiders own 0.56% of the company's stock.

Chevron Trading Up 1.4%

NYSE:CVX opened at $214.89 on Tuesday. The company has a 50-day moving average price of $204.94 and a 200-day moving average price of $193.04. The stock has a market cap of $424.57 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 0.59 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 $217.78.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $62.72 billion. During the same quarter in the previous year, the company earned $1.77 earnings per share. Chevron's quarterly revenue was up 57.4% on a year-over-year basis. Equities analysts predict that Chevron Corporation will post 17.34 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were issued a $1.78 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $7.12 annualized dividend and a yield of 3.3%. Chevron's dividend payout ratio (DPR) is 68.26%.

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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