Chevron Corporation $CVX Shares Bought by AE Wealth Management LLC

AE Wealth Management LLC increased its stake in Chevron Corporation (NYSE:CVX) by 11.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 470,634 shares of the oil and gas company’s stock after acquiring an additional 47,252 shares during the quarter. AE Wealth Management LLC’s holdings in Chevron were worth $73,084,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vishria Bird Financial Group LLC raised its holdings in Chevron by 1.2% during the 3rd quarter. Vishria Bird Financial Group LLC now owns 5,285 shares of the oil and gas company’s stock worth $821,000 after buying an additional 65 shares during the period. Nexus Investment Management ULC boosted its holdings in shares of Chevron by 0.9% in the third quarter. Nexus Investment Management ULC now owns 7,641 shares of the oil and gas company’s stock worth $1,187,000 after buying an additional 65 shares during the period. Scott & Selber Inc. increased its position in shares of Chevron by 0.5% in the third quarter. Scott & Selber Inc. now owns 13,391 shares of the oil and gas company’s stock worth $2,079,000 after acquiring an additional 65 shares in the last quarter. White Knight Strategic Wealth Advisors LLC raised its holdings in shares of Chevron by 3.0% during the second quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock valued at $319,000 after acquiring an additional 65 shares during the period. Finally, William B. Walkup & Associates Inc. raised its holdings in shares of Chevron by 1.0% during the third quarter. William B. Walkup & Associates Inc. now owns 6,356 shares of the oil and gas company’s stock valued at $987,000 after acquiring an additional 66 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, insider Alana K. Knowles sold 3,200 shares of the stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $168.00, for a total transaction of $537,600.00. Following the transaction, the insider directly owned 1,207 shares of the company’s stock, valued at $202,776. This represents a 72.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John B. Hess sold 275,000 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the sale, the director directly owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. This represents a 19.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 635,190 shares of company stock valued at $100,254,408. Company insiders own 0.20% of the company’s stock.

Chevron Trading Up 0.6%

Shares of NYSE CVX opened at $170.02 on Thursday. The business has a 50 day simple moving average of $155.45 and a 200 day simple moving average of $155.13. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $170.42. The stock has a market cap of $342.35 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 11.66 and a beta of 0.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The company’s revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.48 earnings per share. On average, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were issued a $1.71 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.0%. Chevron’s dividend payout ratio is currently 96.20%.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Plans to boost Venezuelan crude exports to the U.S. to ~300,000 bpd in March (up from ~100,000 bpd in December) should lift volumes and near-term cash flow for Chevron. Chevron to boost exports of Venezuelan oil to US in March, sources say
• Positive Sentiment: Multiple brokerages reaffirmed or issued Buy/Outperform ratings (RBC, DBS, BMO), providing analyst support for the stock and backing current targets near the stock’s recent highs. RBC Capital Sticks to Their Buy Rating for Chevron (CVX)
• Positive Sentiment: Chevron added veteran executive Thomas W. Horton to its board and audit committee, which investors often view as a governance positive. Chevron appoints veteran executive Thomas Horton to board
• Positive Sentiment: Chevron signed an MoU with Libya’s national oil company to resume exploration activity after a long absence—an incremental upside if it yields new production or reserves. Chevron Signs MoU With Libya’s NOC to Boost Oil and Gas Exploration
• Neutral Sentiment: Chevron is negotiating with Iraq over better commercial terms before taking over Lukoil’s West Qurna 2 field—this could improve returns if successful but adds timing and execution risk. Exclusive: Chevron seeks better terms from Iraq before taking over Lukoil oilfield, sources say
• Neutral Sentiment: Large institutional managers have been increasing Chevron positions, which supports longer-term demand but is not an immediate catalyst. The Value Stock Big-Money Managers Are Quietly Buying
• Neutral Sentiment: Investors are positioned ahead of Chevron’s upcoming Q4 earnings release — that event could create short-term volatility depending on realized margins and production updates. Here’s How to Play Chevron Stock Before Q4 Earnings Release
• Negative Sentiment: Chevron has underperformed the S&P 500 over the last year, a reminder that relative performance and valuation concerns could temper upside despite operational wins. Do Wall Street Analysts Like Chevron Stock?

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Barclays lifted their price objective on shares of Chevron from $158.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 21st. Piper Sandler decreased their target price on Chevron from $178.00 to $174.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. UBS Group reiterated a “buy” rating on shares of Chevron in a report on Monday, December 1st. Jefferies Financial Group increased their price objective on Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Finally, Bank of America decreased their price objective on Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $170.00.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.