Vise Technologies Inc. Buys 34,701 Shares of Chevron Corporation $CVX

Key Points

• Vise Technologies increased its Chevron stake by 21.2% in the third quarter, buying 34,701 shares to reach 198,391 shares valued at approximately $40.5 million. Institutional investors and hedge funds collectively own 72.42% of Chevron.
• Chevron reported a strong quarter, with adjusted earnings of $5.28 per share and revenue of $65.24 billion, both exceeding analyst expectations. Refining profits surged, while the company generated about $12 billion in free cash flow and reduced net debt by roughly $7.8 billion.
• Analysts remain broadly positive, with Chevron carrying a “Moderate Buy” consensus rating, but risks include potential fourth-quarter production losses from downtime and the possibility that unusually high refining profits will normalize.

Vise Technologies Inc. boosted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 21.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 198,391 shares of the oil and gas company's stock after purchasing an additional 34,701 shares during the quarter. Vise Technologies Inc.'s holdings in Chevron were worth $40,513,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. State Street Corp increased its holdings in shares of Chevron by 3.9% in the 2nd quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company's stock worth $28,016,651,000 after acquiring an additional 5,998,852 shares during the period. BlackRock Inc. bought a new position in shares of Chevron during the 2nd quarter valued at $25,663,729,000. Bank of America Corp DE increased its stake in shares of 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 period. Amundi grew its holdings in shares of Chevron by 3.0% during 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 in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Chevron in the 2nd quarter valued at $2,378,114,000. Institutional investors and hedge funds own 72.42% of the company's stock.

More Chevron News

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CVX shares. Jefferies Financial Group lifted their price target on shares of Chevron from $216.00 to $233.00 and gave the stock a "buy" rating in a research report on Monday, August 17th. William Blair assumed coverage on Chevron in a research note on Wednesday. They issued an "outperform" rating for the company. Royal Bank Of Canada boosted their target price on shares of Chevron from $220.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday, September 24th. Bank of America boosted their price objective on Chevron from $210.00 to $227.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Finally, Raymond James Financial lowered their price objective on Chevron from $230.00 to $225.00 and set an "outperform" rating for the company in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $213.96.

Insider Activity

In other Chevron news, Director John B. Hess sold 100,000 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the sale, the director owned 178,045 shares of the company's stock, valued at approximately $34,587,021.70. This represents a 35.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Walz sold 16,800 shares of the firm's stock in a transaction dated 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 sale, the insider owned 14 shares of the company's stock, valued at $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,195,682 shares of company stock worth $235,619,780 in the last quarter. Insiders own 0.56% of the company's stock.

Chevron Trading Up 1.8%

CVX opened at $235.62 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. Chevron Corporation has a one year low of $146.49 and a one year high of $236.48. The stock has a market capitalization of $465.53 billion, a PE ratio of 17.24, a P/E/G ratio of 0.56 and a beta of 0.53. The business's 50 day moving average price is $213.16 and its 200 day moving average price is $193.07.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (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 for the quarter, compared to analysts' expectations of $61.82 billion. During the same quarter in the previous year, the firm posted $1.85 EPS. The firm's revenue for the quarter was up 36.3% on a year-over-year basis. As a group, equities research analysts expect that Chevron Corporation will post 18.15 EPS for the current 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.

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.