Wealth Enhancement Trust Services Inc. Reduces Stock Holdings in Chevron Corporation $CVX

Wealth Enhancement Trust Services Inc. trimmed its stake in Chevron Corporation (NYSE:CVX) by 12.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,540 shares of the oil and gas company’s stock after selling 2,955 shares during the period. Wealth Enhancement Trust Services Inc.’s holdings in Chevron were worth $4,399,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Echo45 Advisors LLC bought a new stake in shares of Chevron in the 3rd quarter valued at about $262,000. Bank & Trust Co grew its holdings in Chevron by 21.6% in the third quarter. Bank & Trust Co now owns 13,246 shares of the oil and gas company’s stock worth $2,850,000 after purchasing an additional 2,355 shares during the last quarter. North Point Portfolio Managers Corp OH lifted its holdings in shares of Chevron by 21.5% during the 3rd quarter. North Point Portfolio Managers Corp OH now owns 2,316 shares of the oil and gas company’s stock valued at $473,000 after purchasing an additional 410 shares during the last quarter. PFW Advisors LLC acquired a new stake in shares of Chevron in the 3rd quarter worth $210,000. Finally, Worth Asset Management LLC grew its stake in Chevron by 358.3% during the 3rd quarter. Worth Asset Management LLC now owns 7,626 shares of the oil and gas company’s stock worth $1,557,000 after buying an additional 5,962 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron News Roundup

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

Analysts Set New Price Targets

CVX has been the topic of a number of research analyst reports. TD Cowen boosted their price target on Chevron from $205.00 to $215.00 and gave the stock a “hold” rating in a research note on Monday, September 28th. Piper Sandler upped their price target on shares of Chevron from $207.00 to $243.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. BNP Paribas Exane lowered their price objective on shares of Chevron from $230.00 to $224.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Mizuho set a $224.00 target price on Chevron in a research report on Monday, August 3rd. Finally, Wells Fargo & Company lifted their price target on Chevron from $226.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.87.

Chevron Stock Performance

CVX stock traded down $2.32 during midday trading on Wednesday, hitting $205.26. 5,731,028 shares of the stock traded hands, compared to its average volume of 10,517,426. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $217.78. 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 stock’s fifty day simple moving average is $203.83 and its 200-day simple moving average is $192.87. The firm has a market cap of $405.55 billion, a P/E ratio of 19.68, a PEG ratio of 0.57 and a beta of 0.53.

Chevron (NYSE:CVX) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same period in the prior year, the company posted $1.77 EPS. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. On average, analysts expect that Chevron Corporation will post 17.47 earnings per share for the current year.

Chevron Announces Dividend

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

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 710,665 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the sale, the director directly owned 363,711 shares in the company, valued at approximately $70,596,305.10. The trade was a 66.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael K. Wirth sold 317,100 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the transaction, the chief executive officer owned 26,308 shares in the company, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,152,582 shares of company stock valued at $225,853,661. 0.56% of the stock is currently owned by company insiders.

Chevron 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.