7,345 Shares of Chevron Corporation $CVX Acquired by Canandaigua National Trust Co of Florida

Canandaigua National Trust Co of Florida purchased a new stake in Chevron Corporation (NYSE:CVX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,345 shares of the oil and gas company’s stock, valued at approximately $1,500,000. Chevron accounts for about 0.8% of Canandaigua National Trust Co of Florida’s holdings, making the stock its 25th largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Midwest Capital Advisors LLC acquired a new stake in Chevron during the 1st quarter valued at approximately $25,000. Phillip James Consulting Co. acquired a new position in shares of Chevron in the 4th quarter worth approximately $26,000. Basso Capital Management L.P. bought a new stake in shares of Chevron in the 4th quarter valued at $27,000. Main Street Group LTD bought a new stake in shares of Chevron in the 1st quarter valued at $28,000. Finally, Kilter Group LLC acquired a new stake in shares of Chevron during the second quarter worth $28,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 1.1%

Shares of CVX stock traded down $2.32 on Wednesday, reaching $205.26. 5,731,028 shares of the company were exchanged, compared to its average volume of 10,517,426. 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 company has a 50-day moving average of $203.56 and a 200-day moving average of $192.84. The company has a market cap of $405.55 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 0.57 and a beta of 0.53. Chevron Corporation has a one year low of $146.49 and a one year high of $217.78.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion during the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.77 earnings per share. Analysts anticipate that Chevron Corporation will post 17.47 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Wednesday, August 19th. Chevron’s payout ratio is 68.26%.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is transferring its Hess Midstream ownership interests and DJ Basin midstream assets to simplify its portfolio and reduce Bakken midstream costs by approximately 50%. The revised contracts extend through 2045, which could improve future earnings, cash flow visibility and return on capital. Chevron to Divest its Ownership Interests in Hess Midstream and DJ Basin Crude Midstream Assets
• Positive Sentiment: The deal should strengthen Chevron’s Bakken economics by reducing transportation and processing expenses, eliminating roughly $3.7 billion of associated debt from its financial profile and allowing the company to focus on its core upstream operations. Chevron’s Portfolio Reshaping Strategy to Unlock Stronger Returns
• Positive Sentiment: Zacks upgraded Chevron to “Strong Buy,” while tighter global oil and fuel inventories and elevated crude prices provide a supportive backdrop for the integrated energy company. Chevron is also increasing its position in Namibia ahead of a potential exploration well, adding longer-term growth optionality. Chevron Upgraded to Strong-Buy at Zacks Research
• Neutral Sentiment: CEO Mike Wirth warned that a U.S. diesel-export ban could restrict global supply and raise domestic prices. The comments highlight potential fuel-market tightness but also expose Chevron to policy and geopolitical uncertainty. Chevron CEO Warns Against Unwise Diesel Export Ban
• Negative Sentiment: Investors are reacting to the restructuring charge and the possibility of lower Bakken production volumes as Chevron reduces its rig count. Chevron also evacuated non-essential workers from Gulf of Mexico platforms ahead of a possible storm, creating a temporary operational risk. Chevron Evacuates Some Workers From Gulf of Mexico Platforms

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Argus lifted their target price on shares of Chevron from $206.00 to $211.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. upped their price target on shares of Chevron from $190.00 to $222.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Zacks Research upgraded Chevron from a “hold” rating to a “strong-buy” rating in a report on Monday. Sanford C. Bernstein lifted their price objective on Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Finally, Bank of America boosted their price objective on Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. One research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $210.87.

Insider Buying and Selling at Chevron

In other Chevron news, Director John Hess sold 100,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the transaction, the director owned 178,045 shares in the company, valued at approximately $34,587,021.70. This represents a 35.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Wirth sold 317,100 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the completion of the transaction, the chief executive officer directly owned 26,308 shares in the company, valued at $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,152,582 shares of company stock worth $225,853,661. Company insiders own 0.56% of the company’s stock.

About Chevron

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.