Novem Group Sells 6,645 Shares of Chevron Corporation $CVX

Novem Group reduced its holdings in shares of Chevron Corporation (NYSE:CVX) by 74.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,243 shares of the oil and gas company’s stock after selling 6,645 shares during the quarter. Novem Group’s holdings in Chevron were worth $342,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Chevron by 17.9% during the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after acquiring an additional 27,961,463 shares during the period. State Street Corp boosted its holdings in shares of Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after acquiring an additional 12,789,399 shares during the period. Northern Trust Corp boosted its holdings in shares of Chevron by 15.3% during the third quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company’s stock worth $3,528,890,000 after acquiring an additional 3,007,403 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Chevron by 1.6% during the third quarter. Fisher Asset Management LLC now owns 21,152,060 shares of the oil and gas company’s stock worth $3,284,704,000 after acquiring an additional 325,255 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Chevron by 27.9% during the third 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 period. 72.42% of the stock is currently owned by institutional investors.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Multiple broker and media pieces highlight bullish analyst views and upgrades on Chevron, arguing that tighter global inventories and conflict-driven supply disruptions could support higher oil prices and lift integrated majors like CVX. Read More.
• Positive Sentiment: BNP Paribas upgraded Chevron to Outperform (mid-April) and other lists (Warren Buffett picks, dividend stock roundups) continue to flag CVX as a core, income-generating energy holding — supportive for longer-term investor demand. Read More.
• Positive Sentiment: Scotiabank raised its price target to $187 (from $168) — a modest upward revision that reinforces near-term analyst support for the stock. Read More.
• Neutral Sentiment: Geopolitical developments — U.S. moves affecting Venezuela and Iran’s disruption of the Strait of Hormuz — are reshaping risk/valuation for global producers. This increases the strategic value of Chevron’s non-Middle East assets and could boost realized prices, but also raises volatility. Read More.
• Neutral Sentiment: Sector news and peer earnings (Range Resources, Halliburton) show mixed operational results and stronger gas realizations in places — helpful for sector sentiment but not CVX-specific. Read More.
• Neutral Sentiment: Industry events and trade press (summits, energy transition projects) keep broader investor focus on energy supply dynamics and transition risks; useful context but indirect for immediate CVX moves. Read More.
• Negative Sentiment: Chevron reported a crude oil spill at its Pasadena, Texas refinery — an operational and reputational risk that can trigger cleanup costs, regulatory scrutiny and short-term investor concern. This is a near-term negative that could pressure sentiment until impact and remediation are clarified. Read More.

Insider Buying and Selling at Chevron

In related news, insider R. Hewitt Pate sold 40,200 shares of the company’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the sale, the insider owned 8,638 shares of the company’s stock, valued at $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael K. Wirth sold 272,624 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the sale, the chief executive officer directly owned 31,266 shares of the company’s stock, valued at $5,920,217.10. This represents a 89.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 779,407 shares of company stock valued at $145,972,971 over the last three months. 0.56% of the stock is owned by insiders.

Chevron Stock Performance

NYSE CVX opened at $186.28 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $371.13 billion, a P/E ratio of 27.97, a P/E/G ratio of 0.78 and a beta of 0.60. Chevron Corporation has a 12-month low of $133.77 and a 12-month high of $214.71. The firm has a 50-day moving average price of $192.43 and a two-hundred day moving average price of $169.71.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. The firm had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.06 EPS. Analysts anticipate that Chevron Corporation will post 12.49 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 given a dividend of $1.78 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, February 17th. Chevron’s dividend payout ratio (DPR) is currently 106.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Bank of America boosted their price objective on Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Mizuho boosted their price objective on Chevron from $206.00 to $217.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. JPMorgan Chase & Co. upgraded Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price objective for the company in a report on Tuesday, January 20th. Royal Bank Of Canada boosted their price objective on Chevron from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Finally, BMO Capital Markets restated an “outperform” rating and set a $190.00 price objective on shares of Chevron in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.09.

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.