Canandaigua National Bank & Trust Co. Makes New Investment in Chevron Corporation $CVX

Canandaigua National Bank & Trust Co. acquired a new stake in Chevron Corporation (NYSE:CVX) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 47,806 shares of the oil and gas company’s stock, valued at approximately $7,924,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in shares of Chevron during the 4th quarter valued at approximately $3,727,586,000. State Street Corp increased its holdings in Chevron by 9.1% in 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 acquiring an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc raised its position in Chevron by 6.6% during the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after acquiring an additional 8,091,570 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Chevron by 822.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock worth $946,658,000 after acquiring an additional 5,537,580 shares during the period. Finally, Aristotle Capital Management LLC lifted its holdings in Chevron by 653.0% during the first quarter. Aristotle Capital Management LLC now owns 4,526,223 shares of the oil and gas company’s stock valued at $936,492,000 after purchasing an additional 3,925,137 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Tudor Pickering upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price on the stock in a research report on Thursday, April 9th. Bank of America raised their price target on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Wells Fargo & Company lifted their price objective on Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Piper Sandler started coverage on Chevron in a research note on Thursday, July 23rd. They set an “overweight” rating and a $207.00 price objective for the company. Finally, Sanford C. Bernstein increased their target price on Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a report on Monday. Eighteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.26.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reported second-quarter 2026 revenue of $70.06 billion and net income of $12.07 billion, helped by higher production, early cost reductions and elevated refining margins. Adjusted earnings of $6.06 per share exceeded estimates of $5.55, while the company maintained its $1.78 quarterly dividend. Should Chevron’s War-Boosted Margins and Cash Flows Prompt a Portfolio Rethink for CVX Investors?
• Positive Sentiment: Management highlighted cost discipline, lower capital spending, global production growth and repeatable power projects, including a long-term artificial-intelligence power agreement with Microsoft. These initiatives could support cash flow after commodity conditions normalize. CVX Q2 Earnings Call Puts Cost Discipline and Power in Focus
• Positive Sentiment: Barclays raised its price target to $216 from $213, while Bernstein increased its target to $209 from $204. Although both firms retained neutral-style ratings, the revisions indicate improved earnings expectations. Analysts Increase Forecasts on Chevron Following Upbeat Q2 Earnings
• Neutral Sentiment: Chevron is studying a pipeline route through Iraq toward Syria or Turkey to reduce reliance on the Strait of Hormuz. The project could improve supply-chain resilience, but it remains exploratory and carries substantial geopolitical and execution risks. Chevron CEO Evaluates New Pipeline Route Around Strait of Hormuz
• Negative Sentiment: President Donald Trump criticized Chevron and ExxonMobil for allegedly earning excessive profits during the Iran conflict and demanded lower retail gasoline prices. While the immediate regulatory consequences are uncertain, the comments increase political and windfall-tax risk. Trump Demands Lower Gas Prices From Oil Companies
• Negative Sentiment: Reports that U.S.-Iran negotiations could ease supply disruptions triggered a crude-price selloff, pressuring energy shares. Lower oil prices would reduce the value of Chevron’s war-boosted upstream earnings and cash flows. Energy Stocks Drop as Iran Talks Trigger Crude Oil Selloff
• Negative Sentiment: Berkshire Hathaway reduced its Chevron position by 35% under Greg Abel, removing a notable source of investor confidence and adding to selling pressure. Berkshire Hathaway Reduces Chevron Stake

Chevron Trading Down 1.5%

CVX opened at $190.31 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The company’s 50 day simple moving average is $182.09 and its two-hundred day simple moving average is $185.49. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The firm has a market capitalization of $379.02 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 0.60 and a beta of 0.49.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, beating the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.14%. The company’s revenue was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.77 EPS. Analysts expect that Chevron Corporation will post 15.66 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Wednesday, August 19th. Chevron’s payout ratio is currently 68.26%.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.56% of the stock is owned by company insiders.

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.