Chevron Corporation $CVX Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 10.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 205,219 shares of the oil and gas company’s stock after purchasing an additional 19,292 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Chevron were worth $41,908,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Midwest Capital Advisors LLC purchased a new stake in Chevron during the first quarter valued at approximately $25,000. Main Street Group LTD bought a new position in Chevron in the first quarter worth approximately $28,000. Kilter Group LLC bought a new position in Chevron in the second quarter worth approximately $28,000. Principia Wealth Advisory LLC boosted its stake in shares of Chevron by 49.6% during the 2nd quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 60 shares during the last quarter. Finally, Strategic Wealth Advisors LLC purchased a new position in shares of Chevron during the 2nd quarter worth $33,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $228.88 on Thursday. The firm has a fifty day moving average price of $212.05 and a 200-day moving average price of $192.35. 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 has a market cap of $452.22 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 0.55 and a beta of 0.53. Chevron Corporation has a 1 year low of $146.49 and a 1 year high of $234.08.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. During the same period last year, the firm earned $1.77 EPS. The company’s revenue was up 57.4% on a year-over-year basis. Equities analysts anticipate that Chevron Corporation will post 18.20 earnings per share for the current fiscal year.

Insider Activity

In other Chevron news, insider R. Pate sold 40,700 shares of the firm’s 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 sale, the insider directly owned 8,791 shares of the company’s stock, valued at $1,992,480.15. This trade represents a 82.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael K. Wirth sold 317,100 shares of the business’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 transaction, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. The trade was a 92.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,195,682 shares of company stock worth $235,619,780. 0.56% of the stock is currently owned by corporate insiders.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices and potential earnings beat: Crude prices have strengthened Chevron’s earnings outlook, with analysts expecting the company to outperform third-quarter estimates when it reports on October 30. Investors will focus on production growth, cash flow, dividends and buybacks. 3 Energy Stocks Poised to Outshine Earnings Estimates in Q3
• Positive Sentiment: Production and Hess synergies are supporting cash flow: Ariel Investments highlighted Chevron’s strong production, benefits from its Hess acquisition and improving cash generation as reasons for the stock’s gains. The comments reinforce the view that Chevron’s scale and integration efforts can improve shareholder returns. Chevron Corporation Gains on Strong Production, Hess Synergies, and Higher Cash Flow
• Positive Sentiment: Expansion of offshore and international opportunities: TotalEnergies agreed to acquire a 25% interest in 26 Chevron-operated U.S. offshore exploration leases, while Chevron will take a 75% operated interest in two adjacent leases. Chevron also reportedly made a high-quality offshore gas discovery in Egypt and is positioned to participate in a 2027 Indian LPG supply tender. These developments could expand its long-term production portfolio. TotalEnergies Enters Chevron-Operated Offshore Exploration Blocks
• Neutral Sentiment: Long-term gas contract adds revenue visibility: Chevron Australia will supply South32 with 55 petajoules of natural gas over five years beginning in 2028, supporting a more predictable future revenue stream, though the financial benefit is several years away. Chevron’s Australian Business Signs Long-Term Natural Gas Deal
• Negative Sentiment: Valuation and oil-price risk are rising: After a roughly 145% five-year advance and a strong recent run, valuation analyses question whether Chevron’s current market value assumes persistently high oil prices. A disappointment in crude prices or earnings could therefore trigger profit-taking. Chevron Earnings Preview

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent research reports. HSBC set a $90.00 price objective on shares of Chevron in a research report on Friday, September 25th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $241.00 target price on shares of Chevron in a report on Tuesday, October 20th. Zacks Research upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Mizuho set a $234.00 target price on Chevron in a research report on Monday, October 12th. Finally, Bank of America boosted their price target on Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $213.96.

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.