R. Hewitt Pate Sells 58,000 Shares of Chevron (NYSE:CVX) Stock

Chevron Corporation (NYSE:CVX) insider R. Hewitt Pate sold 58,000 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $188.65, for a total transaction of $10,941,700.00. Following the transaction, the insider owned 8,558 shares of the company’s stock, valued at $1,614,466.70. This trade represents a 87.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

R. Hewitt Pate also recently made the following trade(s):

• On Friday, February 27th, R. Hewitt Pate sold 35,475 shares of Chevron stock. The shares were sold at an average price of $186.06, for a total value of $6,600,478.50.
• On Friday, January 30th, R. Hewitt Pate sold 41,134 shares of Chevron stock. The stock was sold at an average price of $176.40, for a total value of $7,256,037.60.

Chevron Price Performance

Shares of CVX opened at $186.09 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 stock has a market cap of $371.32 billion, a PE ratio of 27.94, a PEG ratio of 1.90 and a beta of 0.67. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $191.56. The business has a 50-day simple moving average of $171.79 and a two-hundred day simple moving average of $160.28.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.08. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The company had revenue of $45.79 billion for the quarter, compared to analysts’ expectations of $48.18 billion. During the same period in the previous year, the business posted $2.06 earnings per share. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. Analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Chevron’s previous quarterly dividend of $1.71. Chevron’s payout ratio is presently 106.91%.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Geopolitical tension in the Middle East has pushed crude and natural-gas futures higher, creating a tailwind for integrated majors like Chevron by supporting margins and cash flow expectations. Read More.
• Positive Sentiment: Major brokerages and Wall Street research have been upbeat recently (upgraded price targets and bullish notes), reinforcing investor confidence in Chevron’s cash returns and long-term outlook. Read More.
• Positive Sentiment: Longer-term positioning by large investors (including increased exposure reported in recent institutional filings) and commentary highlighting Chevron’s scale and dividend profile support the stock’s medium-term appeal. Read More.
• Neutral Sentiment: Heightened retail and analyst attention has increased trading activity and headline sensitivity; that can amplify moves in either direction but doesn’t change fundamentals immediately. Read More.
• Negative Sentiment: Chevron halted production and declared force majeure at the Leviathan gas field after Israeli security orders tied to regional hostilities — an immediate operational disruption that creates uncertainty around near-term gas volumes and local cash flow. Read More.
• Negative Sentiment: Significant insider selling by R. Hewitt Pate (multiple large blocks disclosed in SEC filings) has likely contributed to near-term selling pressure and investor caution. Read More.
• Negative Sentiment: Broader geopolitical headlines (reports of Iranian contacts with U.S. counterparts and threats in the Strait of Hormuz) have increased market volatility and raised the risk premium on energy names despite higher commodity prices. Read More.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CVX shares. Sanford C. Bernstein lifted their price target on shares of Chevron from $170.00 to $172.00 and gave the stock a “market perform” rating in a report on Monday, January 5th. JPMorgan Chase & Co. raised Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 target price for the company in a research report on Tuesday, January 20th. Morgan Stanley cut their target price on Chevron from $180.00 to $174.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Melius Research raised Chevron from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a research note on Tuesday, February 17th. Finally, Jefferies Financial Group raised their price objective on Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $178.95.

Institutional Trading of Chevron

A number of large investors have recently bought and sold shares of CVX. D.B. Root & Company LLC increased its holdings in Chevron by 1.0% in the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock worth $846,000 after purchasing an additional 57 shares in the last quarter. Fox Hill Wealth Management grew its position in shares of Chevron by 1.7% during the 4th quarter. Fox Hill Wealth Management now owns 3,443 shares of the oil and gas company’s stock worth $525,000 after buying an additional 57 shares during the period. Cornerstone Planning Group LLC increased its stake in shares of Chevron by 6.8% in the 4th quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company’s stock valued at $142,000 after acquiring an additional 59 shares in the last quarter. MMA Asset Management LLC lifted its position in shares of Chevron by 3.4% during the 4th quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company’s stock valued at $277,000 after acquiring an additional 59 shares during the period. Finally, EWA LLC boosted its stake in Chevron by 2.8% during the fourth quarter. EWA LLC now owns 2,182 shares of the oil and gas company’s stock worth $333,000 after acquiring an additional 59 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.