Eastern Bank Lowers Holdings in Chevron Corporation $CVX

Eastern Bank lessened its holdings in Chevron Corporation (NYSE:CVX) by 14.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,487 shares of the oil and gas company’s stock after selling 9,288 shares during the period. Eastern Bank’s holdings in Chevron were worth $8,609,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CVX. Decker Retirement Planning Inc. acquired a new stake in shares of Chevron during the third quarter valued at about $34,000. Marquette Asset Management LLC acquired a new position in Chevron during the third quarter worth $41,000. Barnes Dennig Private Wealth Management LLC boosted its position in shares of Chevron by 306.1% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company’s stock worth $42,000 after buying an additional 202 shares during the period. Evolution Wealth Management Inc. purchased a new position in shares of Chevron during the second quarter worth $49,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in shares of Chevron in the third quarter valued at $49,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other Chevron news, CFO Eimear P. Bonner sold 32,100 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the completion of the transaction, the chief financial officer directly owned 4,366 shares in the company, valued at approximately $764,093.66. This trade represents a 88.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the transaction, the insider owned 11,337 shares of the company’s stock, valued at approximately $2,130,449.04. The trade was a 92.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,099,397 shares of company stock worth $196,196,468. Corporate insiders own 0.21% of the company’s stock.

Chevron Stock Up 1.7%

CVX stock opened at $211.31 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $185.52 and its 200 day moving average price is $165.21. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $212.46. The company has a market cap of $421.64 billion, a P/E ratio of 31.73, a P/E/G ratio of 1.76 and a beta of 0.67.

Chevron (NYSE:CVX) last issued its earnings results 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. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The company had revenue of $45.79 billion during the quarter, compared to analysts’ expectations of $48.18 billion. During the same period last year, the company posted $2.06 earnings per share. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were paid a dividend of $1.78 per share. This is a boost from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $7.12 annualized dividend and a dividend yield of 3.4%. Chevron’s dividend payout ratio is presently 106.91%.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Australian cyclone knocked out production at major LNG hubs, tightening global gas supply and supporting higher energy prices, a tailwind for Chevron’s commodity-linked cash flow. Cyclone Causes Outages at Australia’s Top LNG Projects
• Positive Sentiment: Morgan Stanley raised its price target to $212 and set an “overweight” rating, signaling buy-side support and helping push CVX higher. Benzinga: Morgan Stanley price target
• Positive Sentiment: Bernstein also lifted its price target on Chevron amid a stronger crude backdrop, reinforcing the narrative that majors benefit from the current oil rally. MSN: Bernstein price target raise
• Positive Sentiment: Erste Group raised FY2026/FY2027 EPS forecasts for Chevron, reflecting better-than-expected earnings power as oil prices stay elevated. MarketBeat: Erste Group EPS revisions
• Positive Sentiment: Market positioning has shifted to defensive, dividend-paying sectors; several market roundups note oil majors including CVX outperforming amid geopolitical risk. Seeking Alpha: Market shifts to defense
• Positive Sentiment: Multiple outlets and analysts praise Chevron’s low breakeven, high-quality asset base and dividend profile, which supports momentum and income-focused buying. Zacks: Chevron momentum
• Neutral Sentiment: Chevron reported production outages at its Australian Gorgon and Wheatstone facilities tied to the cyclone — positive for global price signals but a near-term hit to CVX production, leaving the net impact mixed. Reuters: Chevron outage
• Neutral Sentiment: Consensus brokerage coverage remains around “hold” even as some firms raise targets — suggests upside is recognized but some caution persists. AmericanBankingNews: Consensus hold
• Negative Sentiment: Political/insider optics: a U.S. Representative who publicly backed military action sold Chevron stock at all-time highs, drawing negative headlines and governance/PR risk. Benzinga: Congressman sold Chevron stock
• Negative Sentiment: Analyst commentary raises macro risk scenarios (e.g., high oil in $130–$140 range) that could hurt economic growth and introduce volatility—even if commodity-linked cash flows initially rise. Seeking Alpha: $130-$140 oil risks

Analysts Set New Price Targets

CVX has been the topic of several research reports. Citigroup increased their target price on Chevron from $179.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Mizuho raised their price objective on shares of Chevron from $206.00 to $217.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. UBS Group reaffirmed a “buy” rating and set a $212.00 target price on shares of Chevron in a research note on Monday, February 2nd. Finally, Morgan Stanley increased their target price on shares of Chevron from $174.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday. Fourteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $186.50.

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.