Rockland Trust Co. Lowers Stock Holdings in Chevron Corporation $CVX

Rockland Trust Co. lowered its position in shares of Chevron Corporation (NYSE:CVX) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,529 shares of the oil and gas company’s stock after selling 2,701 shares during the period. Rockland Trust Co.’s holdings in Chevron were worth $7,244,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Perigon Wealth Management LLC increased its stake in shares of Chevron by 19.3% in 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 period. Dakota Wealth Management boosted its position in Chevron by 14.9% during the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock valued at $12,690,000 after buying an additional 10,822 shares during the period. Brooklyn FI LLC purchased a new stake in Chevron during the 3rd quarter valued at $431,000. New York State Teachers Retirement System grew its holdings in Chevron by 15.3% in 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 during the last quarter. Finally, Clear Trail Advisors LLC bought a new stake in Chevron in the 4th quarter worth $10,167,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In related news, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction that occurred on 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 sale, the insider directly owned 11,337 shares in the company, valued at $2,130,449.04. The trade was a 92.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 272,624 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the completion of the sale, the chief executive officer directly owned 31,266 shares in the company, valued at approximately $5,920,217.10. The trade was a 89.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,099,397 shares of company stock worth $196,196,468. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. Bank of America upped their price objective on shares of Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Citigroup raised 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. Mizuho boosted their price target on Chevron from $206.00 to $217.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. JPMorgan Chase & Co. raised Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price target for the company in a research report on Tuesday, January 20th. Finally, Barclays increased their price objective on Chevron from $172.00 to $180.00 and gave the stock an “equal weight” rating in a report on Monday, March 16th. Fourteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and an average target price of $186.50.

Chevron Stock Down 1.9%

Shares of NYSE CVX opened at $206.81 on Wednesday. The firm has a fifty day simple moving average of $187.24 and a two-hundred day simple moving average of $165.98. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $214.71. 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 firm has a market capitalization of $412.67 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 1.67 and a beta of 0.67.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share 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 firm had revenue of $45.79 billion for the quarter, compared to analyst estimates of $48.18 billion. During the same quarter in the previous year, the firm posted $2.06 EPS. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. Equities analysts expect that Chevron Corporation will post 10.79 earnings per share 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 dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.4%. 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. Chevron’s payout ratio is presently 106.91%.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil and gas prices improves near‑term revenue/cash flow potential for integrated producers like Chevron; markets closed March with a historic monthly oil-price surge. Oil Prices Post Biggest Monthly Surge in History
• Positive Sentiment: Chevron announced a partnership with Libya’s National Oil Corporation to assess offshore exploration, which could unlock reserves and future production upside. Chevron Partners With Libya’s NOC to Unlock Offshore Potential
• Positive Sentiment: Microsoft is reportedly in talks with Chevron and Engine No. 1 about a roughly $7 billion Texas power plant project — this signals Chevron’s involvement in large-scale power/energy-transition infrastructure and potential new revenue streams. Microsoft in talks with Chevron, Engine No. 1 about $7B Texas power plant – Bloomberg
• Positive Sentiment: Wall Street interest and analyst support remain; J.P. Morgan and other coverage highlight Chevron’s strong cash‑flow profile (Tengizchevroil ramp-up), and Berkshire Hathaway remains a large shareholder — factors that support investor demand. Chevron: Leveraging Tengizchevroil’s Ramp-Up and Long-Lived Franchise Strength…
• Neutral Sentiment: Chevron announced senior leadership changes framed as operational and safety-focused; these typically matter more for long-term execution than for immediate stock moves. Chevron Announces Senior Leadership Changes
• Neutral Sentiment: There are bullish commentary pieces suggesting momentum and buy-the-dip interest, but these are sentiment/analysis items rather than company-specific catalysts. Oil Prices Are Near Multiyear Highs. Here’s the Best Energy Stock to Buy With $1,000.
• Negative Sentiment: Wheatstone LNG downstream assets in Western Australia suffered extensive cyclone damage; Chevron says the facility will be offline for a number of weeks — lost volumes, repair costs and operational uncertainty are near-term negatives for earnings and cash flow. Chevron’s downstream assets at Wheatstone gas facility suffer extensive damage due to cyclone
• Negative Sentiment: Chevron warned it may be forced to close California gas plants within a decade under current state policy — a regulatory risk that could reduce refining and power assets in a key domestic market. ‘We Won’t Be Able To Make It’ — After 140 Years In California, Chevron May Have To Close Its Gas Plants

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.