First Merchants Corp Trims Stock Position in Chevron Corporation $CVX

First Merchants Corp lessened its stake in Chevron Corporation (NYSE:CVX) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,009 shares of the oil and gas company’s stock after selling 4,038 shares during the period. First Merchants Corp’s holdings in Chevron were worth $5,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CVX. United Bank grew its stake in Chevron by 7.7% during the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after buying an additional 796 shares during the last quarter. Schnieders Capital Management LLC. lifted its stake in Chevron by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock valued at $7,280,000 after buying an additional 4,214 shares during the last quarter. Richmond Investment Services LLC purchased a new stake in Chevron in the second quarter valued at approximately $266,000. Maia Wealth LLC boosted its holdings in shares of Chevron by 49.5% in the second quarter. Maia Wealth LLC now owns 5,892 shares of the oil and gas company’s stock valued at $844,000 after acquiring an additional 1,950 shares during the period. Finally, Te Ahumairangi Investment Management Ltd boosted its holdings in shares of Chevron by 14.9% in the second quarter. Te Ahumairangi Investment Management Ltd now owns 17,929 shares of the oil and gas company’s stock valued at $2,567,000 after acquiring an additional 2,330 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $207.81 on Friday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $209.79. 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 business has a 50 day simple moving average of $184.62 and a 200-day simple moving average of $164.74. The stock has a market capitalization of $414.67 billion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 1.90 and a beta of 0.67.

Chevron (NYSE:CVX) 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. The firm had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The company’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period last year, the company earned $2.06 earnings per share. Equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

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

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Analyst bullishness — Bernstein raised its price target on Chevron citing a stronger crude backdrop, supporting higher upside expectations for CVX. Chevron (CVX) price target raised by Bernstein on stronger crude backdrop
• Positive Sentiment: Commodity tailwinds — Multiple outlets note oil has spiked (near $100/bbl), which benefits Chevron given its low breakeven cost structure and strong cash flow generation. This supports dividend safety and capital returns. Oil Just Hit $100 a Barrel. Here’s the 1 Energy Stock Built to Win Whether Prices Stay High or Crash.
• Positive Sentiment: Analyst estimates lifted — Erste Group raised FY2027 EPS estimates for Chevron, reinforcing expectations for stronger earnings if elevated oil prices persist. Erste Group raises FY2027 EPS estimate for Chevron
• Neutral Sentiment: Strategic moves — Chevron’s crude offtake deal with Sable Offshore increases West Coast supply exposure; useful for refining feed but introduces localized logistics and environmental considerations. Chevron’s Sable Offshore Deal Adds West Coast Supply And Risk Considerations
• Neutral Sentiment: Corporate governance update — Board bylaws were updated post‑Hess acquisition; routine but worth watching for any governance changes that could affect investor rights. Chevron Updates Board Bylaws Following Hess Acquisition
• Negative Sentiment: Operational hit — Chevron reported production outages at its Gorgon and Wheatstone gas facilities in Australia due to Tropical Cyclone Narelle; this could trim near‑term volumes and revenues until production is restored. Chevron reports outage at Australian gas facilities due to cyclone
• Negative Sentiment: Regulatory risk — A proposed “Big Oil Windfall Profits Tax” (S.4111) would target large producers (including CVX) and could materially raise tax burdens if enacted, adding policy risk to the upside in commodity prices. New Bill: Senator Sheldon Whitehouse introduces S. 4111: Big Oil Windfall Profits Tax Act
• Negative Sentiment: Regional supply concerns — Chevron warns of a potential California fuel crisis as imports slow and refining constraints persist; such supply stresses can spur political scrutiny and local price volatility. Chevron Raises Alarm Over California Energy Crisis as Imports Slow

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CVX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a report on Wednesday, January 21st. Argus set a $203.00 price target on shares of Chevron in a research note on Tuesday, February 3rd. UBS Group reissued a “buy” rating and set a $212.00 price objective on shares of Chevron in a research report on Monday, February 2nd. Citigroup lifted their price objective on shares of Chevron from $179.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, Mizuho upped their target price on shares of Chevron from $206.00 to $217.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Fourteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $184.77.

Insiders Place Their Bets

In related news, insider Alana K. Knowles sold 2,408 shares of the stock in a transaction dated Wednesday, February 18th. The shares were 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 Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael K. Wirth sold 272,624 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the completion of the sale, the chief executive officer owned 31,266 shares of the company’s stock, valued at approximately $5,920,217.10. The trade was a 89.71% decrease in their position. 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 valued at $196,196,468. Corporate insiders own 0.21% of the company’s stock.

Chevron 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.