Chevron Corporation $CVX Stock Sold by Hollow Brook Wealth Management LLC

Hollow Brook Wealth Management LLC lowered its position in shares of Chevron Corporation (NYSE:CVX) by 8.5% in the third quarter, Holdings Channel reports. The institutional investor owned 34,613 shares of the oil and gas company’s stock after selling 3,215 shares during the quarter. Chevron comprises approximately 1.2% of Hollow Brook Wealth Management LLC’s holdings, making the stock its 15th largest position. Hollow Brook Wealth Management LLC’s holdings in Chevron were worth $7,068,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Woodmont Investment Counsel LLC boosted its stake in Chevron by 0.6% during the third quarter. Woodmont Investment Counsel LLC now owns 117,433 shares of the oil and gas company’s stock worth $23,981,000 after buying an additional 670 shares during the period. Traynor Capital Management Inc. increased its position in shares of Chevron by 5.3% during the third quarter. Traynor Capital Management Inc. now owns 27,691 shares of the oil and gas company’s stock valued at $5,655,000 after acquiring an additional 1,386 shares during the last quarter. Walled Lake Planning & Wealth Management LLC purchased a new stake in shares of Chevron in the 3rd quarter valued at approximately $272,000. Pinkerton Wealth LLC raised its stake in shares of Chevron by 2.2% in the 3rd quarter. Pinkerton Wealth LLC now owns 35,743 shares of the oil and gas company’s stock valued at $7,299,000 after acquiring an additional 764 shares during the period. Finally, Corecam AG purchased a new stake in shares of Chevron in the 3rd quarter valued at approximately $244,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 317,100 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were 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 owned 26,308 shares of the company’s stock, valued at $5,273,701.68. This trade represents a 92.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider R. Pate sold 40,700 shares of the firm’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the completion of the transaction, the insider directly owned 8,791 shares of the company’s stock, valued at $1,992,480.15. This represents a 82.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 385,017 shares of company stock valued at $78,253,704 in the last ninety days. Company insiders own 0.56% of the company’s stock.

Trending Headlines about Chevron

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

Chevron Stock Performance

NYSE CVX opened at $235.62 on Monday. The company has a market cap of $465.53 billion, a P/E ratio of 17.24, a P/E/G ratio of 0.56 and a beta of 0.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. The stock has a 50-day moving average of $213.16 and a two-hundred day moving average of $193.07. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $236.48.

Chevron (NYSE:CVX) 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, topping analysts’ consensus estimates of $4.87 by $0.41. The company had revenue of $65.24 billion for the quarter, compared to analyst estimates of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The business’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.85 earnings per share. As a group, analysts anticipate that Chevron Corporation will post 18.15 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be issued a $1.78 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.0%. Chevron’s payout ratio is 68.26%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CVX shares. Wells Fargo & Company restated an “overweight” rating on shares of Chevron in a report on Monday. Zacks Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Bank of America boosted their target price on Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. William Blair assumed coverage on Chevron in a research report on Wednesday. They issued an “outperform” rating on the stock. Finally, Royal Bank Of Canada upped their price target on Chevron from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $213.96.

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.