Chevron Corporation $CVX Stock Holdings Lessened by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC cut its holdings in Chevron Corporation (NYSE:CVX) by 17.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 71,186 shares of the oil and gas company’s stock after selling 15,411 shares during the period. HITE Hedge Asset Management LLC’s holdings in Chevron were worth $11,054,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CVX. Vishria Bird Financial Group LLC lifted its holdings in Chevron by 1.2% in the third quarter. Vishria Bird Financial Group LLC now owns 5,285 shares of the oil and gas company’s stock worth $821,000 after acquiring an additional 65 shares during the last quarter. Nexus Investment Management ULC grew its holdings in shares of Chevron by 0.9% during the third quarter. Nexus Investment Management ULC now owns 7,641 shares of the oil and gas company’s stock valued at $1,187,000 after purchasing an additional 65 shares during the last quarter. Scott & Selber Inc. raised its position in shares of Chevron by 0.5% during the 3rd quarter. Scott & Selber Inc. now owns 13,391 shares of the oil and gas company’s stock worth $2,079,000 after purchasing an additional 65 shares during the period. White Knight Strategic Wealth Advisors LLC raised its position in shares of Chevron by 3.0% during the 2nd quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock worth $319,000 after purchasing an additional 65 shares during the period. Finally, William B. Walkup & Associates Inc. lifted its holdings in shares of Chevron by 1.0% in the 3rd quarter. William B. Walkup & Associates Inc. now owns 6,356 shares of the oil and gas company’s stock worth $987,000 after purchasing an additional 66 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CVX shares. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, January 21st. UBS Group reaffirmed a “buy” rating and issued a $212.00 target price on shares of Chevron in a research report on Monday, February 2nd. Argus set a $203.00 target price on Chevron in a research note on Tuesday, February 3rd. Bank of America boosted their price target on shares of Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Finally, Wall Street Zen upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $182.05.

Chevron Stock Up 2.9%

CVX opened at $197.31 on Friday. The stock’s 50 day moving average price is $176.51 and its 200 day moving average price is $161.75. 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 cap of $393.71 billion, a P/E ratio of 29.63, a P/E/G ratio of 1.93 and a beta of 0.67. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $198.88.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The company had revenue of $45.79 billion during 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 firm’s quarterly revenue was down 10.2% on a year-over-year basis. As a group, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

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

Insiders Place Their Bets

In other Chevron news, insider R. Hewitt Pate sold 47,200 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $192.12, for a total transaction of $9,068,064.00. Following the sale, the insider directly owned 8,558 shares in the company, valued at approximately $1,644,162.96. The trade was a 84.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael K. Wirth sold 272,624 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was 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 directly owned 31,266 shares of the company’s stock, valued at approximately $5,920,217.10. This represents a 89.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, 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.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Piper Sandler raised its price target and reiterated an “overweight” stance on CVX, giving institutional investors a fresh bullish valuation reference. Benzinga
• Positive Sentiment: Macro support: oil prices and geopolitical risk in the Middle East have pushed Chevron to new highs this week, lifting sentiment for integrated producers that benefit from higher crude. MarketBeat
• Positive Sentiment: Gulf of Mexico expansion: Chevron increased its footprint in the recent lease sale/auction, signaling continued investment in U.S. deepwater growth. Yahoo Finance
• Positive Sentiment: Project development: Chevron Cyprus has advanced a Cyprus offshore gas project (Worley awarded FEED), indicating future production & gas sales potential in the Eastern Med. TipRanks
• Positive Sentiment: Heavy bullish options flow: an unusual spike in call buying shows short‑term speculative/hedging interest that can amplify upward moves.
• Neutral Sentiment: Gorgon/LNG ownership shifts: MidOcean’s move to increase a stake in Gorgon LNG reflects ongoing portfolio shifts in Australian LNG, where Chevron is a long‑standing partner — monitor implications for JV economics. Offshore‑Technology
• Neutral Sentiment: Venezuela opportunity remains in play: reports that Chevron and Shell are nearing deals to revive Venezuelan production are positive long‑term but remain uncertain and subject to regulatory/geopolitical timing. MSN/Reuters
• Negative Sentiment: Insider selling: an SEC filing shows R. Hewitt Pate sold 47,200 shares recently — while insider sales can be routine, some investors interpret them as a signal to reduce exposure near rally highs. SEC Form 4
• Negative Sentiment: Regulatory hit: Chevron agreed to a DOJ settlement (about $1M penalty and retirement of ~$3.6M in invalid renewable credits) — small financially but a reputational/legal reminder. Benzinga
• Negative Sentiment: Asset sale in Angola: Energean’s acquisition of Chevron stakes in offshore Angolan blocks reduces CVX near‑term production exposure in that region; impact depends on sale price and redeployment of proceeds. Offshore‑Technology

About Chevron

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.