Capital Advisors Inc. OK increased its holdings in shares of Chevron Corporation (NYSE:CVX – Free Report) by 7.7% during the fourth quarter, Holdings Channel reports. The fund owned 639,556 shares of the oil and gas company’s stock after purchasing an additional 45,453 shares during the period. Chevron makes up about 1.6% of Capital Advisors Inc. OK’s portfolio, making the stock its 12th biggest position. Capital Advisors Inc. OK’s holdings in Chevron were worth $97,475,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of CVX. Vanguard Group Inc. raised its holdings in shares of Chevron by 17.9% in the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after buying an additional 27,961,463 shares during the last quarter. State Street Corp lifted its position in Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after buying an additional 12,789,399 shares in the last quarter. Primecap Management Co. CA bought a new stake in Chevron during the 3rd quarter worth about $988,083,000. Bank of New York Mellon Corp grew its holdings in Chevron by 27.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock worth $3,047,900,000 after acquiring an additional 4,279,918 shares during the last quarter. Finally, Amundi increased its position in Chevron by 41.8% in the 3rd quarter. Amundi now owns 11,760,376 shares of the oil and gas company’s stock valued at $1,811,333,000 after acquiring an additional 3,464,058 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.
Insider Activity
In other news, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the transaction, the insider directly owned 11,337 shares of the company’s stock, valued at $2,130,449.04. This trade represents a 92.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider R. Hewitt Pate sold 58,000 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $188.65, for a total transaction of $10,941,700.00. Following the completion of the transaction, the insider directly owned 8,558 shares of the company’s stock, valued at $1,614,466.70. This trade represents a 87.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,099,397 shares of company stock worth $196,196,468 in the last ninety days. Company insiders own 0.20% of the company’s stock.
Chevron Trading Down 1.9%
Chevron (NYSE:CVX – Get Free Report) last posted its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.08. The company had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.06 EPS. On average, equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.
Chevron Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were issued a dividend of $1.78 per share. This is an increase from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Tuesday, February 17th. Chevron’s dividend payout ratio is presently 106.91%.
Analyst Upgrades and Downgrades
CVX has been the topic of a number of research reports. TD Cowen upped their target price on shares of Chevron from $160.00 to $168.00 and gave the stock a “hold” rating in a research report on Monday, February 2nd. Bank of America raised their price target on shares of Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a report on Monday, March 2nd. BMO Capital Markets restated an “outperform” rating and issued a $190.00 price objective on shares of Chevron in a research report on Monday, February 2nd. Jefferies Financial Group upped their price objective on Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Finally, Melius Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a research report on Tuesday, February 17th. Fourteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $186.50.
Check Out Our Latest Stock Analysis on Chevron
Chevron News Roundup
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Higher oil and gas prices improves near‑term revenue/cash flow potential for integrated producers like Chevron; markets closed March with a historic monthly oil-price surge. Oil Prices Post Biggest Monthly Surge in History
- Positive Sentiment: Chevron announced a partnership with Libya’s National Oil Corporation to assess offshore exploration, which could unlock reserves and future production upside. Chevron Partners With Libya’s NOC to Unlock Offshore Potential
- Positive Sentiment: Microsoft is reportedly in talks with Chevron and Engine No. 1 about a roughly $7 billion Texas power plant project — this signals Chevron’s involvement in large-scale power/energy-transition infrastructure and potential new revenue streams. Microsoft in talks with Chevron, Engine No. 1 about $7B Texas power plant – Bloomberg
- Positive Sentiment: Wall Street interest and analyst support remain; J.P. Morgan and other coverage highlight Chevron’s strong cash‑flow profile (Tengizchevroil ramp-up), and Berkshire Hathaway remains a large shareholder — factors that support investor demand. Chevron: Leveraging Tengizchevroil’s Ramp-Up and Long-Lived Franchise Strength…
- Neutral Sentiment: Chevron announced senior leadership changes framed as operational and safety-focused; these typically matter more for long-term execution than for immediate stock moves. Chevron Announces Senior Leadership Changes
- Neutral Sentiment: There are bullish commentary pieces suggesting momentum and buy-the-dip interest, but these are sentiment/analysis items rather than company-specific catalysts. Oil Prices Are Near Multiyear Highs. Here’s the Best Energy Stock to Buy With $1,000.
- Negative Sentiment: Wheatstone LNG downstream assets in Western Australia suffered extensive cyclone damage; Chevron says the facility will be offline for a number of weeks — lost volumes, repair costs and operational uncertainty are near-term negatives for earnings and cash flow. Chevron’s downstream assets at Wheatstone gas facility suffer extensive damage due to cyclone
- Negative Sentiment: Chevron warned it may be forced to close California gas plants within a decade under current state policy — a regulatory risk that could reduce refining and power assets in a key domestic market. ‘We Won’t Be Able To Make It’ — After 140 Years In California, Chevron May Have To Close Its Gas Plants
About Chevron
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.
See Also
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