8,815 Shares in Chevron Corporation $CVX Acquired by Leo Wealth LLC

Leo Wealth LLC acquired a new stake in Chevron Corporation (NYSE:CVX) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 8,815 shares of the oil and gas company’s stock, valued at approximately $1,800,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Midwest Capital Advisors LLC purchased a new position in shares of Chevron during the 1st quarter valued at $25,000. Main Street Group LTD purchased a new stake in shares of Chevron during the first quarter worth $28,000. Kilter Group LLC acquired a new stake in Chevron during the second quarter valued at $28,000. Principia Wealth Advisory LLC boosted its position in Chevron by 49.6% during the second quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 60 shares during the last quarter. Finally, Strategic Wealth Advisors LLC purchased a new position in Chevron in the second quarter valued at about $33,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $228.18 on Wednesday. The company has a market capitalization of $450.84 billion, a price-to-earnings ratio of 21.88 and a beta of 0.53. Chevron Corporation has a one year low of $146.49 and a one year high of $234.08. The company’s fifty day moving average price is $211.59 and its two-hundred day moving average price is $192.01.

Chevron (NYSE:CVX) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, beating the consensus estimate of $5.55 by $0.51. The company had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. During the same quarter last year, the business earned $1.77 earnings per share. Chevron’s quarterly revenue was up 57.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Corporation will post 18.20 earnings per share for the current year.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reported a “high-quality” natural-gas discovery offshore Egypt. The find could expand the company’s Egyptian resource base and support future production growth, although commercial development details are not yet available. Chevron makes high-quality gas discovery offshore Egypt
• Positive Sentiment: Chevron Australia agreed to supply South32 with 55 petajoules of natural gas over five years beginning in 2028. The long-term contract provides additional visibility for Chevron’s Australian gas business and supports demand from Worsley Alumina operations. Chevron Australian natural gas agreement
• Positive Sentiment: Chevron outlined a proposed $13.8 billion investment through 2035 to expand its Vaca Muerta operations in Argentina, with a goal of tripling oil production from its assets there. The plan offers a long-term production-growth opportunity, though it also requires substantial capital and carries regional execution risk. Chevron Vaca Muerta expansion
• Positive Sentiment: Exchange-traded funds recorded approximately $50.5 million in net buying of CVX on October 23, indicating continued institutional or passive-investment demand. Chevron ETF buying
• Neutral Sentiment: Analysts expect a sharp year-over-year rebound in third-quarter earnings, supported by stronger energy prices. However, the anticipated improvement may already be reflected in CVX’s valuation following its recent rally. Chevron expected earnings rebound
• Negative Sentiment: Investor commentary suggests that, despite attractive dividends and buybacks, CVX may offer less near-term upside after Brent crude rose above $115 and the shares approached their 12-month high. This backdrop can encourage investors to wait for earnings or lock in gains. Chevron dividend and buyback commentary
• Negative Sentiment: The principal near-term risk is the October 30 earnings report: elevated expectations leave less room for an earnings miss, cautious guidance, or weaker production and refining results to be received positively.

Analyst Upgrades and Downgrades

CVX has been the topic of several research reports. Sanford C. Bernstein upped their target price on Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Argus lifted their price target on Chevron from $206.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. HSBC set a $90.00 price target on Chevron in a research note on Friday, September 25th. Barclays dropped their price objective on Chevron from $216.00 to $208.00 and set an “equal weight” rating on the stock in a report on Monday, August 17th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $241.00 price objective on shares of Chevron in a research report on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned 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, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.96.

Insider Buying and Selling

In related news, insider R. Pate sold 40,700 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total value of $9,224,655.00. Following the completion of the sale, the insider directly owned 8,791 shares in the company, valued at approximately $1,992,480.15. The trade was a 82.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Wirth sold 317,100 shares of the company’s 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 sale, the chief executive officer directly 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 SEC filing for this sale provides additional information. Insiders sold a total of 1,195,682 shares of company stock valued at $235,619,780 over the last 90 days. 0.56% of the stock is currently owned by insiders.

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.