Chevron Corporation $CVX Stock Purchased by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. raised its stake in Chevron Corporation (NYSE:CVX) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 272,206 shares of the oil and gas company’s stock after purchasing an additional 10,053 shares during the period. Chevron accounts for approximately 1.6% of ZWJ Investment Counsel Inc.’s investment portfolio, making the stock its 21st biggest position. ZWJ Investment Counsel Inc.’s holdings in Chevron were worth $55,587,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Blue Capital Inc. acquired a new stake in shares of Chevron during the second quarter worth $786,000. OneAscent Wealth Management LLC acquired a new position in shares of Chevron in the second quarter valued at about $973,000. Global Retirement Partners LLC acquired a new position in shares of Chevron in the second quarter valued at about $14,276,000. Ferguson Wellman Capital Management Inc. grew its stake in shares of Chevron by 0.6% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company’s stock valued at $186,182,000 after acquiring an additional 5,787 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Chevron by 6.8% in the first quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock valued at $258,853,000 after acquiring an additional 79,439 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

CVX stock opened at $222.05 on Thursday. The company’s 50-day moving average price is $206.20 and its two-hundred day moving average price is $193.23. The firm has a market cap of $438.71 billion, a P/E ratio of 21.29, a P/E/G ratio of 0.60 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 Corporation has a 12 month low of $146.49 and a 12 month high of $222.55.

Chevron (NYSE:CVX) 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 analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $62.72 billion. During the same quarter in the prior year, the firm posted $1.77 EPS. The firm’s quarterly revenue was up 57.4% on a year-over-year basis. On average, analysts anticipate that Chevron Corporation will post 17.59 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is 68.26%.

Insider Activity

In other Chevron news, insider R. Pate sold 2,470 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total transaction of $506,621.70. Following the completion of the transaction, the insider directly owned 10,794 shares in the company, valued at $2,213,957.34. The trade was a 18.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Hess sold 710,665 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total value of $137,940,076.50. Following the sale, the director owned 363,711 shares of the company’s stock, valued at $70,596,305.10. The trade was a 66.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,152,582 shares of company stock valued at $225,853,661 in the last three months. Company insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CVX. Mizuho set a $234.00 price target on shares of Chevron in a research report on Monday. HSBC set a $90.00 price objective on shares of Chevron in a report on Friday, September 25th. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research report on Thursday, July 2nd. Piper Sandler raised their target price on shares of Chevron from $207.00 to $243.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Finally, Argus lifted their price target on shares of Chevron from $206.00 to $211.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $213.08.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: An analyst upgrade helped push CVX to a new one-year high, reinforcing investor confidence in Chevron’s earnings outlook. Chevron Sets New 1-Year High on Analyst Upgrade
• Positive Sentiment: Chevron CEO Mike Wirth said commercial inventories, emergency reserves and previously sanctioned oil supplies have been heavily drawn down following the Iran-related disruption. Tighter global buffers could support crude and diesel prices, potentially benefiting Chevron’s upstream cash flow, although they also increase market and geopolitical risk. Chevron CEO Warns Oil Buffers Have Been Drained
• Positive Sentiment: Chevron is among the companies investing in Venezuela’s oil revival as the United States seeks alternative supply sources amid Strait of Hormuz disruptions. Successful development could create longer-term production and cash-flow growth. Venezuela’s Oil Revival
• Positive Sentiment: Chevron and Shell are restoring U.S. Gulf production after Hurricane Isaias, with facilities reportedly avoiding storm damage. A rapid restart limits operational losses and supports near-term production. Chevron and Shell Lead Gulf Oil Recovery
• Positive Sentiment: Chevron’s technical expertise helped deliver first commercial gas from Australia’s Beetaloo Basin, potentially adding to future LNG supply and expanding its growth platform. Chevron and Australia’s Beetaloo Gas
• Neutral Sentiment: Commentary highlights Chevron’s integrated model, which can support dividends when oil prices weaken because refining and chemicals may offset upstream pressure. However, the stock’s strong multiyear rally has left investors questioning how much future cash flow is already reflected in the price. Chevron Stock Looks Reasonable With Cash Flow Value Above Price
• Negative Sentiment: Chevron agreed to take a one-time loss of approximately $3 billion to $4 billion, which could weigh on reported results and raise concerns about asset quality despite recent strong earnings. Chevron Is Cleaning House Before Earnings Peak Fades

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.