R. Hewitt Pate Sells 35,475 Shares of Chevron (NYSE:CVX) Stock

Chevron Corporation (NYSE:CVX) insider R. Hewitt Pate sold 35,475 shares of the stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $186.06, for a total transaction of $6,600,478.50. Following the completion of the transaction, the insider directly owned 8,558 shares of the company’s stock, valued at $1,592,301.48. This trade represents a 80.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, March 2nd, R. Hewitt Pate sold 58,000 shares of Chevron stock. The shares were sold at an average price of $188.65, for a total value of $10,941,700.00.
• 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 stock opened at $186.09 on Thursday. The stock’s fifty day simple moving average is $171.79 and its 200 day simple moving average is $160.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. The firm has a market cap of $371.32 billion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 1.90 and a beta of 0.67. Chevron Corporation has a one year low of $132.04 and a one year high of $191.56.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) 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 firm had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. During the same period in the prior year, the company posted $2.06 earnings per share. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. On average, analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on CVX shares. UBS Group reissued a “buy” rating and issued a $212.00 target price on shares of Chevron in a report on Monday, February 2nd. Piper Sandler cut their price objective on Chevron from $178.00 to $174.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. Scotiabank restated a “sector perform” rating and set a $168.00 target price on shares of Chevron in a report on Friday, January 16th. TD Cowen raised their target price on Chevron from $160.00 to $168.00 and gave the company a “hold” rating in a research note on Monday, February 2nd. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $190.00 price target on shares of Chevron in a research report on Monday, February 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $178.95.

Hedge Funds Weigh In On Chevron

Several large investors have recently made changes to their positions in CVX. Vanguard Group Inc. increased its holdings in Chevron by 17.9% in the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after buying an additional 27,961,463 shares during the period. State Street Corp boosted its position in shares of Chevron by 9.1% during 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 increased its stake in Chevron by 6.6% in the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after acquiring an additional 8,091,570 shares during the last quarter. Geode Capital Management LLC raised its position in Chevron by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after purchasing an additional 134,890 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Chevron by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock worth $5,492,377,000 after purchasing an additional 961,341 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron News Roundup

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.

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.