AE Wealth Management LLC Purchases 47,252 Shares of Chevron Corporation $CVX

AE Wealth Management LLC increased its position in Chevron Corporation (NYSE:CVX) by 11.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 470,634 shares of the oil and gas company’s stock after buying an additional 47,252 shares during the period. AE Wealth Management LLC’s holdings in Chevron were worth $73,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CVX. Quaker Wealth Management LLC lifted its position in shares of Chevron by 197.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares during the last quarter. Decker Retirement Planning Inc. acquired a new stake in Chevron in the 3rd quarter valued at approximately $34,000. Vermillion & White Wealth Management Group LLC increased its position in Chevron by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after buying an additional 118 shares during the period. IMG Wealth Management Inc. lifted its holdings in shares of Chevron by 52.3% during the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after buying an additional 91 shares during the last quarter. Finally, Marquette Asset Management LLC acquired a new position in shares of Chevron during the third quarter worth approximately $41,000. 72.42% of the stock is currently owned by institutional investors.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Plans to boost Venezuelan crude exports to the U.S. to ~300,000 bpd in March (up from ~100,000 bpd in December) should lift volumes and near-term cash flow for Chevron. Chevron to boost exports of Venezuelan oil to US in March, sources say
• Positive Sentiment: Multiple brokerages reaffirmed or issued Buy/Outperform ratings (RBC, DBS, BMO), providing analyst support for the stock and backing current targets near the stock’s recent highs. RBC Capital Sticks to Their Buy Rating for Chevron (CVX)
• Positive Sentiment: Chevron added veteran executive Thomas W. Horton to its board and audit committee, which investors often view as a governance positive. Chevron appoints veteran executive Thomas Horton to board
• Positive Sentiment: Chevron signed an MoU with Libya’s national oil company to resume exploration activity after a long absence—an incremental upside if it yields new production or reserves. Chevron Signs MoU With Libya’s NOC to Boost Oil and Gas Exploration
• Neutral Sentiment: Chevron is negotiating with Iraq over better commercial terms before taking over Lukoil’s West Qurna 2 field—this could improve returns if successful but adds timing and execution risk. Exclusive: Chevron seeks better terms from Iraq before taking over Lukoil oilfield, sources say
• Neutral Sentiment: Large institutional managers have been increasing Chevron positions, which supports longer-term demand but is not an immediate catalyst. The Value Stock Big-Money Managers Are Quietly Buying
• Neutral Sentiment: Investors are positioned ahead of Chevron’s upcoming Q4 earnings release — that event could create short-term volatility depending on realized margins and production updates. Here’s How to Play Chevron Stock Before Q4 Earnings Release
• Negative Sentiment: Chevron has underperformed the S&P 500 over the last year, a reminder that relative performance and valuation concerns could temper upside despite operational wins. Do Wall Street Analysts Like Chevron Stock?

Insider Activity

In related news, CFO Eimear P. Bonner sold 28,334 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $165.05, for a total transaction of $4,676,526.70. Following the completion of the sale, the chief financial officer owned 4,366 shares in the company, valued at $720,608.30. This trade represents a 86.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael K. Wirth sold 320,700 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the completion of the transaction, the chief executive officer owned 14,450 shares in the company, valued at approximately $2,355,205.50. This trade represents a 95.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 635,190 shares of company stock worth $100,254,408 in the last quarter. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on CVX. Morgan Stanley lowered their price objective on shares of Chevron from $180.00 to $174.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Citigroup reduced their price target on shares of Chevron from $185.00 to $179.00 and set a “buy” rating for the company in a report on Monday, January 5th. Jefferies Financial Group raised their price target on shares of Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Wall Street Zen lowered shares of Chevron from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $168.00 target price on shares of Chevron in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average target price of $170.00.

Chevron Trading Up 0.6%

CVX stock opened at $170.02 on Thursday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $170.42. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $155.45 and its 200-day moving average is $155.13. The firm has a market cap of $342.35 billion, a P/E ratio of 23.91, a P/E/G ratio of 11.66 and a beta of 0.70.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The business had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter last year, the company earned $2.48 EPS. Chevron’s revenue was down 1.9% on a year-over-year basis. Equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Tuesday, November 18th. Chevron’s payout ratio is currently 96.20%.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.