Wagner Wealth Management Corp Makes New Investment in Chevron Corporation $CVX

Wagner Wealth Management Corp bought a new stake in Chevron Corporation (NYSE:CVX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,332 shares of the oil and gas company’s stock, valued at approximately $680,000.

Several other large investors have also recently bought and sold shares of the business. Zullo Investment Group Inc. boosted its holdings in shares of Chevron by 1.9% in the 3rd quarter. Zullo Investment Group Inc. now owns 6,177 shares of the oil and gas company’s stock valued at $1,262,000 after buying an additional 117 shares in the last quarter. Lakeshore Capital Group Inc. grew its position in shares of Chevron by 6.2% in the 3rd quarter. Lakeshore Capital Group Inc. now owns 5,810 shares of the oil and gas company’s stock valued at $1,187,000 after buying an additional 338 shares during the last quarter. Revisor Wealth Management LLC raised its stake in Chevron by 4.0% during the 3rd quarter. Revisor Wealth Management LLC now owns 4,342 shares of the oil and gas company’s stock worth $968,000 after acquiring an additional 165 shares in the last quarter. Briaud Financial Planning Inc acquired a new stake in Chevron during the 3rd quarter worth $243,000. Finally, West Branch Capital LLC lifted its position in Chevron by 1.3% in the third quarter. West Branch Capital LLC now owns 23,737 shares of the oil and gas company’s stock valued at $4,847,000 after acquiring an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Bank of America raised its Chevron price target to $252 from $227, signaling greater confidence in the company’s earnings and cash-flow outlook. Chevron price target raised to $252 from $227 at BofA
• Positive Sentiment: Chevron is reportedly selling older Gulf of Mexico assets to sharpen its focus on higher-priority U.S. Gulf operations. Asset sales could streamline the portfolio, improve capital efficiency and support cash flow, although proceeds and transaction terms remain important. Chevron to sharpen US Gulf focus with sale of older assets
• Positive Sentiment: Elevated oil prices, with Brent crude pushed above $110 by Iran-related supply concerns, have helped Chevron and other integrated oil companies reach 52-week highs by improving the potential value of production and cash generation. Chevron, ExxonMobil Stocks Hit 52-Week Highs
• Positive Sentiment: Investors are watching Chevron’s Venezuela investment for potential production growth toward roughly 600,000 barrels per day. If achieved, the project could add substantial revenue, while relatively low production costs may support long-term profitability. Chevron Is Pouring Billions Into Venezuela
• Neutral Sentiment: Chevron’s production update and upcoming earnings are drawing attention because investors will assess whether higher oil prices and recent operational changes are translating into stronger results. Why Is Chevron in Focus?
• Negative Sentiment: Director R. Pate sold 43,100 Chevron shares for approximately $9.8 million across two transactions. The trades were made under a pre-arranged Rule 10b5-1 plan, reducing their significance as a discretionary bearish signal, but the large reduction in ownership could still weigh modestly on sentiment. Chevron insider trading filing

Chevron Stock Performance

Shares of CVX opened at $226.81 on Thursday. The company’s 50 day simple moving average is $209.37 and its 200-day simple moving average is $193.91. The firm has a market cap of $448.13 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 0.62 and a beta of 0.53. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $228.48. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. Chevron’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.77 EPS. As a group, equities analysts predict that Chevron Corporation will post 17.71 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were paid a $1.78 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.1%. Chevron’s payout ratio is currently 68.26%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CVX. HSBC set a $90.00 price objective on shares of Chevron in a research note on Friday, September 25th. UBS Group raised their price objective on Chevron from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, October 8th. BNP Paribas Exane cut their target price on Chevron from $230.00 to $224.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Zacks Research raised Chevron from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $241.00 target price on shares of Chevron in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.96.

Insider Buying and Selling at Chevron

In other news, CEO Michael Wirth sold 317,100 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Hess sold 710,665 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were 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 of the company’s stock, valued at $70,596,305.10. The trade was a 66.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,195,682 shares of company stock valued at $235,619,780. 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.