Chevron Corporation $CVX Holdings Lessened by CENTRAL TRUST Co

CENTRAL TRUST Co decreased its position in shares of Chevron Corporation (NYSE:CVX) by 1.9% in the third quarter, HoldingsChannel reports. The firm owned 155,660 shares of the oil and gas company’s stock after selling 2,982 shares during the quarter. CENTRAL TRUST Co’s holdings in Chevron were worth $31,787,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Chevron during the 2nd quarter worth approximately $25,663,729,000. Bank of New York Mellon Corp acquired a new stake in Chevron during the 2nd quarter valued at approximately $2,378,114,000. Legal & General Group Plc purchased a new stake in shares of Chevron in the 2nd quarter valued at $1,462,412,000. Deutsche Bank AG purchased a new stake in shares of Chevron in the 2nd quarter valued at $1,189,577,000. Finally, State Street Corp boosted 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 valued at $28,016,651,000 after acquiring an additional 5,998,852 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of a number of research reports. Barclays increased their price objective on shares of Chevron from $208.00 to $244.00 and gave the stock an “equal weight” rating in a research note on Monday, November 2nd. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $240.00 target price for the company. in a research report on Tuesday, November 3rd. Mizuho set a $234.00 price target on shares of Chevron in a report on Monday, October 12th. William Blair initiated coverage on shares of Chevron in a report on Wednesday, October 28th. They issued an “outperform” rating on the stock. Finally, Piper Sandler increased their price target on Chevron from $207.00 to $243.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average target price of $221.88.

Key Stories Impacting Chevron

Investors following CVX have been watching these stories:

• Positive Sentiment: Chevron’s recent third-quarter results reportedly strengthened the earnings outlook, and the company reaffirmed its quarterly dividend. One valuation analysis argues the shares could be substantially undervalued, though that estimate depends on the model’s assumptions. Chevron Could Be 76% Below Fair Value As Q3 Earnings Reset Valuation
• Neutral Sentiment: Dividend coverage highlights Chevron’s long record of annual increases—39 consecutive years—and its reaffirmed payout. That history may appeal to income investors, though comparisons with other dividend stocks do not by themselves indicate near-term earnings or share-price direction. Exxon vs. Chevron: Which Oil Dividend Wins the Next Decade?
• Negative Sentiment: Oil futures fell to their lowest level since August after comments that the Iran conflict was effectively over. Lower crude prices can weigh on energy-sector earnings expectations, although the report notes there was no confirmed deal and Iran denied talks. Oil Prices Just Fell to Their Lowest Since August

Chevron Trading Up 0.9%

CVX stock opened at $213.21 on Thursday. The company’s 50-day simple moving average is $215.23 and its 200-day simple moving average is $195.08. The company has a quick ratio of 1.07, a current ratio of 1.34 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $236.48. The firm has a market cap of $419.05 billion, a P/E ratio of 15.60, a PEG ratio of 0.49 and a beta of 0.47.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.87 by $0.41. Chevron had a return on equity of 14.49% and a net margin of 11.56%. The firm had revenue of $65.24 billion for the quarter, compared to analysts’ expectations of $61.82 billion. During the same period last year, the firm earned $1.85 EPS. The company’s quarterly revenue was up 36.3% on a year-over-year basis. As a group, equities analysts forecast that Chevron Corporation will post 18.64 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be given a dividend of $1.78 per share. The ex-dividend date is Wednesday, November 18th. This represents a $7.12 dividend on an annualized basis and a yield of 3.3%. Chevron’s dividend payout ratio is currently 52.08%.

Insider Buying and Selling at Chevron

In other Chevron news, insider Andrew Walz sold 16,800 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the sale, the insider directly owned 14 shares of the company’s stock, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R. Pate sold 40,700 shares of the business’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 value of $9,224,655.00. Following the completion of the sale, the insider owned 8,791 shares of the company’s stock, valued at $1,992,480.15. This trade represents a 82.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 379,470 shares of company stock valued at $77,216,415. Company insiders own 0.56% of the company’s stock.

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.