Argent Capital Management LLC lessened its position in Chevron Corporation (NYSE:CVX – Free Report) by 2.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 161,386 shares of the oil and gas company’s stock after selling 3,968 shares during the period. Argent Capital Management LLC’s holdings in Chevron were worth $24,597,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Perigon Wealth Management LLC raised its stake in shares of Chevron by 19.3% during the third quarter. Perigon Wealth Management LLC now owns 73,448 shares of the oil and gas company’s stock worth $11,406,000 after buying an additional 11,875 shares during the last quarter. Brooklyn FI LLC acquired a new position in shares of Chevron during the third quarter worth about $431,000. New York State Teachers Retirement System grew its stake in shares of Chevron by 15.3% during the 3rd quarter. New York State Teachers Retirement System now owns 1,620,231 shares of the oil and gas company’s stock worth $251,606,000 after acquiring an additional 215,345 shares in the last quarter. Finemark National Bank & Trust raised its holdings in Chevron by 40.3% during the third quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock worth $8,779,000 after acquiring an additional 16,243 shares in the last quarter. Finally, Pictet North America Advisors SA bought a new stake in shares of Chevron in the 3rd quarter valued at about $5,662,000. 72.42% of the stock is owned by institutional investors and hedge funds.
Key Stories Impacting Chevron
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Chevron’s market capitalization topped $400 billion for the first time as the crude rally lifted energy peers and investor appetite for large integrated oil names. Chevron (CVX) Stock Breaks Into Elite $400B Club Amid Oil Price Rally
- Positive Sentiment: HSBC upgraded CVX from Hold to Buy and set a $215 target, signaling analyst conviction that the stock has further upside as oil stays elevated. HSBC upgrade to Buy
- Positive Sentiment: Major business press notes Chevron’s rise into the top-20 U.S. companies by market value, reinforcing momentum and institutional interest in the name. Chevron Jumps Into Top 20 Most Valuable U.S. Companies
- Positive Sentiment: Analyst/market commentaries and YTD performance write-ups highlight strong gains (CVX up materially this year) driven by geopolitical support for oil prices and Chevron’s growth projects—these narratives help attract momentum flows. Why the Market Dipped But Chevron (CVX) Gained Today
- Positive Sentiment: Mizuho and other broker notes (coverage upgrades / bullish price forecasts) and inclusion in “best energy stocks” pieces amplify buy-side interest and argue for continued upside if commodity strength persists. Mizuho Forecasts Strong Price Appreciation for Chevron (NYSE:CVX) Stock
- Neutral Sentiment: Comparative analyst pieces (e.g., Zacks on Chevron vs. Suncor) note Chevron’s diversification and Guyana growth but weigh that against peer cost actions—useful context but not an immediate catalyst. Chevron vs. Suncor: Which Energy Stock Wins at 52-Week Highs?
- Neutral Sentiment: Chevron Technology Ventures led a small strategic investment in robotics firm KEWAZO—positioning for operational efficiencies but not a near-term earnings driver. Chevron Technology Ventures Invests in KEWAZO
Chevron Stock Performance
Chevron (NYSE:CVX – Get Free Report) last issued 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 business had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. During the same quarter last year, the company earned $2.06 earnings per share. The company’s quarterly revenue was down 10.2% on a year-over-year basis. As a group, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.
Chevron Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were paid a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This is a positive change from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a dividend yield of 3.5%. Chevron’s payout ratio is 106.91%.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on CVX. Melius Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a report on Tuesday, February 17th. Sanford C. Bernstein boosted their price objective on Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a research note on Monday, January 5th. BMO Capital Markets reissued an “outperform” rating and issued a $190.00 price objective on shares of Chevron in a research note on Monday, February 2nd. Morgan Stanley dropped their target price on shares of Chevron from $180.00 to $174.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Finally, Freedom Capital downgraded shares of Chevron from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 6th. Fourteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $184.77.
Insider Buying and Selling
In related news, CFO Eimear P. Bonner sold 32,100 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $175.01, for a total value of $5,617,821.00. Following the transaction, the chief financial officer owned 4,366 shares of the company’s stock, valued at $764,093.66. This represents a 88.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider R. Hewitt Pate sold 58,000 shares of the 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 transaction, the insider directly owned 8,558 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders have sold 1,099,397 shares of company stock worth $196,196,468. 0.21% of the stock is owned by corporate insiders.
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.
See Also
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