Chevron Corporation $CVX Stock: New York Life Investment Management LLC Grows Holdings

New York Life Investment Management LLC grew its holdings in shares of Chevron Corporation (NYSE:CVX) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 274,543 shares of the oil and gas company’s stock after buying an additional 13,785 shares during the quarter. New York Life Investment Management LLC’s holdings in Chevron were worth $56,064,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CVX. State Street Corp boosted its stake in Chevron by 3.9% during the 2nd quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock valued at $28,016,651,000 after purchasing an additional 5,998,852 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Chevron in the second quarter worth approximately $25,663,729,000. Bank of America Corp DE raised its stake in shares of Chevron by 5.1% in the first quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock worth $5,716,694,000 after purchasing an additional 1,334,976 shares during the last quarter. Amundi lifted its holdings in shares of Chevron by 3.0% in the first quarter. Amundi now owns 12,185,436 shares of the oil and gas company’s stock valued at $2,521,166,000 after purchasing an additional 349,416 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Chevron in the second quarter valued at approximately $2,378,114,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In related news, insider Andrew Walz sold 16,800 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider owned 14 shares in the company, valued at approximately $2,814.84. This represents a 99.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael K. Wirth sold 317,100 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 379,470 shares of company stock worth $77,216,415 in the last quarter. Insiders own 0.56% of the company’s stock.

Chevron Price Performance

CVX opened at $211.15 on Wednesday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $236.48. The firm has a 50-day moving average of $215.19 and a 200 day moving average of $194.85. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.07 and a current ratio of 1.34. The firm has a market cap of $414.99 billion, a P/E ratio of 15.45, a PEG ratio of 0.49 and a beta of 0.47.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, topping the consensus estimate of $4.87 by $0.41. The business had revenue of $65.24 billion for the quarter, compared to analyst estimates of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.49%. The company’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 earnings per share. On average, research analysts expect that Chevron Corporation will post 18.56 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be paid a dividend of $1.78 per share. The ex-dividend date is Wednesday, November 18th. This represents a $7.12 annualized dividend and a dividend yield of 3.4%. Chevron’s dividend payout ratio (DPR) is presently 52.08%.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is selling QatarEnergy a 25% stake in its PEL82 offshore exploration license in Namibia. The deal shares exploration costs while Chevron retains control and exposure to potential discoveries. Chevron Expands Namibia Ties With QatarEnergy Offshore Stake Deal
• Positive Sentiment: Chevron is pursuing a $13.8 billion expansion in Argentina’s Vaca Muerta shale formation, aiming to triple its output there by 2035. Applying Permian expertise could support growth, though the plan faces high costs and pipeline constraints. Can Chevron’s $13.8B Vaca Muerta Bet Fuel Long-Term Growth?
• Neutral Sentiment: Chevron plans to double production in Venezuela, offering potential volume growth but exposing the company to political and investment risks. The article notes ExxonMobil’s reluctance to return after past asset seizures and flags uncertainty around long-term oil demand. Chevron Is Doubling Venezuela Production. ExxonMobil Says It’s Not in a Rush.
• Negative Sentiment: Oil prices fell to their lowest since August after President Trump said the Iran war was effectively over. Lower crude prices can weigh on Chevron’s earnings outlook; however, the report says there was no signed deal and Iran denied talks, leaving the situation uncertain. Oil Prices Just Fell to Their Lowest Since August

Analysts Set New Price Targets

Several brokerages recently issued reports on CVX. Jefferies Financial Group lifted their target price on Chevron from $216.00 to $233.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Royal Bank Of Canada increased their price target on Chevron from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, September 24th. JPMorgan Chase & Co. raised their price objective on Chevron from $190.00 to $222.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $240.00 price objective on the stock. in a report on Tuesday, November 3rd. Finally, Freedom Broker raised shares of Chevron from a “sell” rating to a “hold” rating and set a $218.00 price objective on the stock in a report on Thursday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $221.88.

About Chevron

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.