Meyer Handelman Co. Trims Stake in Chevron Corporation $CVX

Meyer Handelman Co. decreased its stake in shares of Chevron Corporation (NYSE:CVX) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 207,023 shares of the oil and gas company’s stock after selling 3,347 shares during the period. Chevron accounts for 1.3% of Meyer Handelman Co.’s investment portfolio, making the stock its 23rd biggest position. Meyer Handelman Co.’s holdings in Chevron were worth $42,833,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. State Street Corp raised its stake in Chevron by 9.1% in the 3rd 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 purchasing an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc lifted its holdings in Chevron by 6.6% in the 4th 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 purchasing an additional 8,091,570 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Chevron by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock worth $6,620,187,000 after purchasing an additional 134,890 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 buying an additional 961,341 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Chevron during the fourth quarter worth about $3,727,586,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. The trade was a 57.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the transaction, the insider owned 8,638 shares in the company, valued at $1,842,485.40. This represents a 82.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 615,200 shares of company stock valued at $118,022,760. Company insiders own 0.56% of the company’s stock.

Chevron Trading Down 0.9%

NYSE:CVX opened at $170.67 on Friday. The business’s 50-day moving average is $185.10 and its two-hundred day moving average is $179.78. The firm has a market capitalization of $339.91 billion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 0.56 and a beta of 0.48. Chevron Corporation has a 12 month low of $142.40 and a 12 month high of $214.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same period in the previous year, the company posted $2.18 EPS. Chevron’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts predict that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CVX shares. Mizuho upped their price objective on shares of Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Bank of America boosted their price target on Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Morgan Stanley increased their price target on Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Zacks Research cut Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a research report on Tuesday, May 5th. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.70.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron expanded its upstream footprint by agreeing to take a majority stake and operatorship in Greece’s Southern Ionian Sea Block 10, a move that could add long-term exploration upside and strengthen its Eastern Mediterranean presence. Chevron (CVX) Expands Into Greece Block 10 While Venezuela Operations Stay Running
• Positive Sentiment: The company also announced a 20-year deal to supply natural gas to a Microsoft data center in West Texas, signaling a new avenue for stable, long-duration demand and potential growth from energy infrastructure tied to AI. Chevron, Microsoft deal fuels West Texas data center expansion
• Positive Sentiment: Chevron confirmed that its Venezuela operations remain safe and fully operational after the earthquakes, reducing near-term disruption risk while the company supports relief efforts. Chevron Confirms Safe Venezuela Operations After Major Earthquakes
• Neutral Sentiment: Chevron committed $1 million to earthquake relief in Venezuela, a humanitarian move that is unlikely to materially affect earnings but may support its reputation. Chevron Commits $1 Million to Support Earthquake Relief in Venezuela
• Neutral Sentiment: Reuters reported Chevron is exploring additional deals to power U.S. data centers, which suggests optionality and diversification, but no immediate financial impact was disclosed. Chevron eyes more deals to power US data centers
• Negative Sentiment: Investor caution rose after reports that the Trump administration ordered a DOJ probe into gasoline pricing at Chevron and other major oil companies, creating headline risk and possible regulatory overhang. Trump Orders DOJ Investigation Into Exxon (XOM) and Chevron (CVX) Over Gas Pump Pricing
• Negative Sentiment: Chevron’s CFO said gasoline prices should decline, but only with a lag, reinforcing concerns that near-term pricing and margins may remain uncertain if crude prices keep falling. Chevron CFO says gas prices will normalize after Trump presses Big Oil

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.