First Nebraska Trust Co Acquires 95,670 Shares of Chevron Corporation $CVX

by · The Markets Daily

First Nebraska Trust Co bought a new position in shares of Chevron Corporation (NYSE:CVX – Free Report) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 95,670 shares of the oil and gas company’s stock, valued at approximately $19,537,000. Chevron makes up approximately 1.6% of First Nebraska Trust Co’s portfolio, making the stock its 13th largest position.

A number of other institutional investors have also added to or reduced their stakes in the business. Aware Super Pty Ltd as trustee of Aware Super lifted its holdings in shares of Chevron by 12.0% during the 3rd quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 165,724 shares of the oil and gas company’s stock worth $33,842,000 after acquiring an additional 17,740 shares during the last quarter. Tucker Asset Management LLC grew its position in Chevron by 16.2% in the third quarter. Tucker Asset Management LLC now owns 3,426 shares of the oil and gas company’s stock worth $700,000 after acquiring an additional 477 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management increased its stake in Chevron by 8.5% in the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 7,395 shares of the oil and gas company’s stock valued at $1,510,000 after acquiring an additional 578 shares during the last quarter. Torren Management LLC increased its stake in Chevron by 404.2% in the third quarter. Torren Management LLC now owns 479 shares of the oil and gas company’s stock valued at $98,000 after acquiring an additional 384 shares during the last quarter. Finally, Next Level Wealth Planning LLC bought a new position in Chevron in the third quarter valued at $111,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

CVX stock opened at $225.58 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $236.48. The firm’s fifty day moving average is $214.06 and its 200 day moving average is $193.68. The firm has a market cap of $445.70 billion, a P/E ratio of 16.50, a P/E/G ratio of 0.54 and a beta of 0.47.

Chevron (NYSE:CVX – Get Free Report) last posted its quarterly earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.87 by $0.41. The business had revenue of $65.24 billion during the quarter, compared to the consensus estimate of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The firm’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 earnings per share. Research analysts predict that Chevron Corporation will post 18.20 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders 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 annualized dividend and a dividend yield of 3.2%. Chevron’s payout ratio is currently 52.08%.

Insider Transactions at Chevron

In related news, insider R. Pate sold 40,700 shares of the stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the completion of the sale, the insider directly owned 8,791 shares in the company, valued at $1,992,480.15. This represents a 82.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction, the insider owned 14 shares in the company, valued at approximately $2,814.84. The trade was a 99.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 379,470 shares of company stock worth $77,216,415. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their price target on Chevron from $226.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday. The Goldman Sachs Group reiterated a “buy” rating and issued a $241.00 price objective on shares of Chevron in a report on Tuesday, October 20th. TD Cowen increased their price objective on Chevron from $215.00 to $225.00 and gave the company a “hold” rating in a research report on Monday, October 12th. HSBC set a $90.00 price objective on Chevron in a report on Friday, September 25th. Finally, Sanford C. Bernstein boosted 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. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.04.

Check Out Our Latest Report on CVX

More Chevron News

Here are the key news stories impacting Chevron this week:

  • Positive Sentiment: Chevron reported adjusted third-quarter earnings of $5.28 per share, topping expectations, with record U.S. refinery throughput and strong refining margins contributing to results. UBS raised its price target to $265 and retained a Buy rating after the results. Q3 results deep dive
  • Positive Sentiment: Chevron says it remains on track to supply power to a Microsoft West Texas data center in 2028 through Project Kilby, despite permitting uncertainty—an update supporting its efforts to build data-center energy demand into a growth opportunity. Chevron data-center power target
  • Neutral Sentiment: Oil-market sentiment is volatile: Brent fell about 8% after signals that Iran may be open to peace talks, but reports of U.S. strikes in Iran complicate the outlook. A sustained easing of conflict could pressure crude prices, while renewed escalation could reverse the move. Oil-market reaction to Iran news
  • Negative Sentiment: Lower crude prices pose a potential headwind for Chevron’s upstream earnings, and the shares may also be vulnerable to profit-taking after a substantial rally. ETF flows were mixed, with reports of net sales on Oct. 30. ETF sales of Chevron shares
  • Negative Sentiment: DZ Bank lowered its rating from Buy to Hold, adding a cautious analyst view even as its $240 target remains above the quoted share price. DZ Bank rating action

Chevron Profile

(Free Report)

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.

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