Bank of Nova Scotia Boosts Stock Position in Chevron Corporation $CVX

Bank of Nova Scotia increased its position in Chevron Corporation (NYSE:CVX) by 81.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 493,045 shares of the oil and gas company’s stock after acquiring an additional 221,602 shares during the quarter. Bank of Nova Scotia’s holdings in Chevron were worth $76,565,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position 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 worth $28,540,753,000 after purchasing an additional 27,961,463 shares during the period. Norges Bank bought a new stake in shares of Chevron during the 2nd quarter valued at $2,721,477,000. Primecap Management Co. CA bought a new stake in shares of Chevron during the 3rd quarter valued at $988,083,000. Bank of New York Mellon Corp lifted its stake in shares of 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 valued at $3,047,900,000 after buying an additional 4,279,918 shares in the last quarter. Finally, Laurel Wealth Advisors LLC lifted its stake in shares of Chevron by 14,194.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock valued at $532,984,000 after buying an additional 3,696,177 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Mizuho boosted their price objective on Chevron from $204.00 to $206.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $190.00 price objective on shares of Chevron in a research note on Monday, February 2nd. Bank of America increased their target price on Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Finally, Wells Fargo & Company lifted their target price on Chevron from $196.00 to $204.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Thirteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of “Hold” and a consensus price target of $182.05.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Geopolitical-driven oil rally is lifting energy names like Chevron as investors position for tighter supply; this is a primary driver behind recent upside in CVX. Wall Street Roundup: War, Oil, Airlines, Energy, AI, Private Credit
• Positive Sentiment: Piper Sandler raised its price target to $242 and moved to an “overweight” rating, signaling notable analyst upside that can support further buying interest. Piper Sandler price target raise
• Positive Sentiment: Chevron expanded its U.S. deepwater exposure via recent Gulf of Mexico lease activity, reinforcing confidence in long-term upstream growth and reserves development. Chevron Expands Gulf of Mexico Presence With Latest Lease Sale
• Positive Sentiment: Unusual options flow showed heavy call buying (111,021 calls), indicating speculative/bullish positioning that can amplify near-term upside.
• Neutral Sentiment: Chevron agreed to sell its stakes in Angola Blocks 14/14K to Energean for about $260M — a small portfolio divestment that trims international exposure but provides cash for reallocation; impact is strategic rather than material to earnings. Energean to acquire Chevron’s stakes in offshore Angola blocks
• Neutral Sentiment: Worley won a FEED contract for Chevron’s Aphrodite gas field (Cyprus), confirming project progress; it’s a positive operational step but the contract award mainly benefits the supplier and signals Chevron advancing development plans. Worley secures contract from Chevron for Aphrodite gas field FEED
• Neutral Sentiment: Analyst and media coverage is debating valuation as CVX approaches $200 after a ~30% run in 2026; some see upside if oil holds, others warn the rally could be stretched. Chevron Near $200 While Oil Tops $100: Does CVX Merit a Buy?
• Negative Sentiment: Chevron faces a DOJ settlement: a $1M penalty and retirement of $3.6M in invalid renewable fuel credits — reputational and compliance negative, though the financial hit is modest. Chevron Hit With $1 Million Penalty Over Invalid Clean Fuel Credits
• Negative Sentiment: MarketBeat and technical indicators note momentum warnings (MACD/RSI weakening) and the IEA’s coordinated reserve releases could cap oil — if oil eases, Chevron’s rally could reverse quickly. Chevron Hits New Highs Due to Oil’s Rally, But Is It Sustainable?

Chevron Stock Performance

CVX opened at $196.95 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15. The stock has a market capitalization of $393.00 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 1.82 and a beta of 0.67. The company has a fifty day moving average of $177.33 and a 200 day moving average of $162.07. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $198.88.

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

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were given a $1.78 dividend. 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 dividend yield of 3.6%. The ex-dividend date was Tuesday, February 17th. Chevron’s dividend payout ratio (DPR) is presently 106.91%.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 320,700 shares of Chevron stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $162.99, for a total value of $52,270,893.00. Following the sale, the chief executive officer owned 14,450 shares of the company’s stock, valued at $2,355,205.50. The trade was a 95.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider R. Hewitt Pate sold 58,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $188.65, for a total value of $10,941,700.00. Following the sale, the insider directly owned 8,558 shares in the company, valued at $1,614,466.70. This trade represents a 87.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,099,397 shares of company stock valued at $196,196,468 in the last ninety days. Corporate insiders own 0.20% of the company’s stock.

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.