Chevron Corporation $CVX Stock: Sumitomo Mitsui Trust Group Inc. Decreases Position

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Chevron Corporation (NYSE:CVX) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,245,375 shares of the oil and gas company’s stock after selling 64,199 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Chevron were worth $866,948,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Chevron during the third quarter valued at about $276,022,000. ARQ Wealth Advisors LLC lifted its holdings in shares of Chevron by 4.8% during the 3rd quarter. ARQ Wealth Advisors LLC now owns 2,069 shares of the oil and gas company’s stock worth $423,000 after acquiring an additional 94 shares during the last quarter. Stevens Capital Partners boosted its holdings in shares of Chevron by 35.3% in the 3rd quarter. Stevens Capital Partners now owns 2,359 shares of the oil and gas company’s stock worth $482,000 after purchasing an additional 615 shares in the last quarter. Profund Advisors LLC boosted its stake in Chevron by 2.2% in the third quarter. Profund Advisors LLC now owns 74,110 shares of the oil and gas company’s stock worth $15,134,000 after buying an additional 1,564 shares in the last quarter. Finally, Vise Technologies Inc. boosted its stake in Chevron by 21.2% in the third quarter. Vise Technologies Inc. now owns 198,391 shares of the oil and gas company’s stock worth $40,513,000 after buying an additional 34,701 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

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 Price Performance

Shares of NYSE CVX opened at $235.62 on Monday. The company has a 50 day simple moving average of $213.16 and a two-hundred day simple moving average of $193.07. The company has a market capitalization of $465.53 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 0.56 and a beta of 0.47. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $236.48. 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 (NYSE:CVX) last released its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.87 by $0.41. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The business had revenue of $65.24 billion during the quarter, compared to analyst estimates of $61.82 billion. During the same period last year, the business earned $1.85 EPS. Chevron’s revenue was up 36.3% compared to the same quarter last year. Analysts expect that Chevron Corporation will post 18.15 EPS for the current fiscal 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 given a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $7.12 annualized dividend and a dividend yield of 3.0%. Chevron’s dividend payout ratio (DPR) is 68.26%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CVX. Wall Street Zen raised shares of Chevron from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Morgan Stanley raised their price objective on Chevron from $218.00 to $226.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Wells Fargo & Company reiterated an “overweight” rating and issued a $268.00 price objective on shares of Chevron in a report on Monday. Mizuho set a $234.00 price target on Chevron in a research report on Monday, October 12th. Finally, UBS Group lifted their price target on Chevron from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.54.

Insider Activity at Chevron

In related news, insider Andrew Walz sold 16,800 shares of Chevron stock in a transaction dated 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 completion of the sale, the insider directly owned 14 shares in the company, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R. Pate sold 40,700 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total value 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 approximately $1,992,480.15. This trade 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 385,017 shares of company stock valued at $78,253,704 over the last ninety days. 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.