CIBC Bancorp USA Inc. Buys New Shares in Chevron Corporation $CVX

CIBC Bancorp USA Inc. bought a new position in Chevron Corporation (NYSE:CVX) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 278,675 shares of the oil and gas company’s stock, valued at approximately $43,275,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 last quarter. Norges Bank purchased a new stake in Chevron in the second quarter valued at approximately $2,721,477,000. State Street Corp boosted its position in Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after buying an additional 12,789,399 shares during the last quarter. Primecap Management Co. CA acquired a new position in Chevron in the 3rd quarter worth approximately $988,083,000. Finally, Bank of New York Mellon Corp raised its position in 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 worth $3,047,900,000 after buying an additional 4,279,918 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, insider Alana K. Knowles sold 2,408 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $183.28, for a total transaction of $441,338.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael K. Wirth sold 272,624 shares of Chevron stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $189.35, for a total value of $51,621,354.40. Following the completion of the transaction, the chief executive officer owned 31,266 shares of the company’s stock, valued at approximately $5,920,217.10. This represents a 89.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,099,397 shares of company stock worth $196,196,468. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVX. Wells Fargo & Company lifted their price objective on shares of Chevron from $196.00 to $204.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. JPMorgan Chase & Co. raised shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 target price for the company in a report on Tuesday, January 20th. Argus set a $203.00 target price on shares of Chevron in a research report on Tuesday, February 3rd. Scotiabank reaffirmed a “sector perform” rating and issued a $168.00 price target on shares of Chevron in a report on Friday, January 16th. Finally, Barclays increased their price target on Chevron from $172.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Monday. Thirteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $183.18.

Chevron Price Performance

Shares of NYSE CVX opened at $198.54 on Thursday. 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 stock has a market capitalization of $396.16 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 1.83 and a beta of 0.67. The firm’s 50 day simple moving average is $179.68 and its 200-day simple moving average is $162.85. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $200.73.

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

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date was Tuesday, February 17th. Chevron’s payout ratio is currently 106.91%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Progress on new upstream opportunities — Chevron is reported to be pursuing a deal in Venezuela that could meaningfully expand production if completed; this would be a long‑term growth lever for CVX. Could an Oil Deal in Venezuela Boost Chevron’s Stock?
• Positive Sentiment: Downstream expansion in Brazil — CVX is in advanced talks to buy a ~30% stake in Ultrapar’s Ipiranga retail unit, which would boost retail and refining exposure in a fast‑growing market. Chevron in Advanced Negotiations to Buy 30% Stake in Ipiranga
• Positive Sentiment: Analyst support and price-target lifts — Mizuho raised its target and flagged an outperform view; Barclays also published a bullish forecast, both supporting upside to the shares. Mizuho price-target raise / Benzinga Barclays Forecasts Strong Price Appreciation for Chevron
• Positive Sentiment: Dividend durability and fund inclusion — Chevron extended its long dividend-growth streak and remains a core holding in high‑yield/dividend funds, supporting investor demand for the stock. Is Chevron Balancing Dividend Strength With Rising Geopolitical Risk?
• Neutral Sentiment: Macro/commodity attention — Retail and analyst interest has CVX trending; Zacks and other outlets summarized fundamentals and positioning but offered no new catalyst beyond market interest. Chevron Is a Trending Stock (Zacks)
• Neutral Sentiment: Oil-price drivers — Rising WTI/Brent on Strait of Hormuz shipping uncertainty supports oil majors generally but also raises volatility risk; this is a market tailwind for CVX earnings but not company‑specific. Oil jumps over 2% as doubts linger over U.S.-backed plan to protect Strait of Hormuz shipping
• Negative Sentiment: Reputational/regulatory risk — WSJ reporting about past dealings involving an ex‑Chevron executive with U.S. intelligence raises governance and reputational questions that could attract regulatory or political scrutiny. Takeaways From WSJ Reporting on the CIA’s Dealings With an Ex-Chevron Executive
• Negative Sentiment: Compliance settlement — Chevron recently agreed to a settlement related to invalid renewable fuel credits; while not huge on the numbers, such items add headline risk and could affect ESG-focused investors. Is Chevron Balancing Dividend Strength With Rising Geopolitical Risk?

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.