Chevron Corporation $CVX Stock Bought by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. increased its position in shares of Chevron Corporation (NYSE:CVX) by 97.6% during the third quarter, HoldingsChannel.com reports. The fund owned 329,175 shares of the oil and gas company’s stock after acquiring an additional 162,562 shares during the period. TD Waterhouse Canada Inc.’s holdings in Chevron were worth $67,221,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. IFC & Insurance Marketing Inc. purchased a new stake in Chevron in the 3rd quarter worth approximately $464,000. Safir Wealth Advisors LLC bought a new position in Chevron in the 3rd quarter valued at $237,000. Stronghold Wealth Management L.L.C. purchased a new position in shares of Chevron during the 3rd quarter valued at $213,000. Peddock Capital Advisors LLC grew its position in shares of Chevron by 1.2% during the 3rd quarter. Peddock Capital Advisors LLC now owns 16,537 shares of the oil and gas company’s stock valued at $3,377,000 after purchasing an additional 201 shares in the last quarter. Finally, KFG Wealth Management LLC grew its position in shares of Chevron by 4.3% during the 3rd quarter. KFG Wealth Management LLC now owns 1,803 shares of the oil and gas company’s stock valued at $368,000 after purchasing an additional 75 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Morgan Stanley raised its Chevron price target to $226 from $218 and assigned an “overweight” rating, while Wells Fargo reportedly initiated or reiterated a “buy” recommendation. These upgrades reinforce bullish sentiment, although Morgan Stanley’s revised target implies limited additional upside from current levels. Morgan Stanley raises Chevron price target
• Positive Sentiment: Chevron was selected as a relative-strength stock by Zacks, reflecting strong recent price performance and improving earnings estimates. The company is also receiving attention as a long-term and dividend-oriented investment, which may attract additional income-focused investors. Zacks relative strength stock picks
• Positive Sentiment: Wall Street expects a sharp year-over-year increase in Chevron’s third-quarter earnings, with results due by the end of October. Anticipation of stronger profits is helping sustain interest ahead of the report. Chevron earnings expectations
• Neutral Sentiment: Diamond Hill Capital highlighted Chevron in its third-quarter investor letter after its large-cap strategy outperformed the Russell 1000 Value Index. The item indicates institutional interest but does not represent a new company announcement or change in fundamentals. Diamond Hill Chevron investment discussion
• Negative Sentiment: CEO Mike Wirth warned that commercial inventories, emergency reserves and previously sanctioned oil supplies have been depleted following the Iran-related shock. While tighter supply could support crude prices and Chevron’s upstream revenue, it also raises geopolitical, refining and diesel-price risks. Chevron CEO warns oil buffers are depleted

Insider Activity at Chevron

In other news, insider Andrew Walz sold 16,800 shares of the firm’s stock in a transaction on 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 sale, the insider owned 14 shares in the company, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider R. Pate sold 2,470 shares of Chevron stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total transaction of $506,621.70. Following the sale, the insider directly owned 10,794 shares of the company’s stock, valued at $2,213,957.34. This represents a 18.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,152,582 shares of company stock worth $225,853,661 over the last quarter. 0.56% of the stock is currently owned by corporate insiders.

Chevron Stock Up 2.6%

CVX stock opened at $225.00 on Friday. The company’s 50 day moving average is $207.58 and its 200 day moving average is $193.51. The stock has a market cap of $444.55 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 0.61 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 1-year low of $146.49 and a 1-year high of $225.31.

Chevron (NYSE:CVX) last announced its 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 business had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same period in the previous year, the business posted $1.77 earnings per share. Chevron’s revenue for the quarter was up 57.4% on a year-over-year basis. Sell-side analysts predict that Chevron Corporation will post 17.71 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CVX shares. The Goldman Sachs Group decreased their price target on shares of Chevron from $240.00 to $228.00 and set a “buy” rating on the stock in a report on Tuesday, September 22nd. Zacks Research raised Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Wells Fargo & Company lifted their price objective on Chevron from $226.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. HSBC set a $90.00 target price on Chevron in a research report on Friday, September 25th. Finally, Piper Sandler boosted their target price on Chevron from $207.00 to $243.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $213.42.

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.