Kimelman & Baird LLC Buys 2,993 Shares of Chevron Corporation $CVX

Kimelman & Baird LLC increased its stake in Chevron Corporation (NYSE:CVX) by 7.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,653 shares of the oil and gas company’s stock after acquiring an additional 2,993 shares during the quarter. Kimelman & Baird LLC’s holdings in Chevron were worth $6,313,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Chevron by 17.9% during the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after purchasing an additional 27,961,463 shares during the last quarter. State Street Corp boosted its stake in shares of 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 boosted its stake in shares of Chevron by 2.9% in the 2nd quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock valued at $17,478,458,000 after purchasing an additional 3,454,258 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Chevron by 4.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock worth $4,979,255,000 after buying an additional 1,342,723 shares during the period. Finally, Northern Trust Corp raised its stake in Chevron by 15.3% during the third quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company’s stock worth $3,528,890,000 after buying an additional 3,007,403 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CVX has been the topic of a number of research analyst reports. Piper Sandler upped their price target on shares of Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Zacks Research raised Chevron from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 23rd. Melius Research raised Chevron from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a research note on Tuesday, February 17th. Wells Fargo & Company raised their target price on Chevron from $196.00 to $204.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Finally, Morgan Stanley lowered their target price on Chevron from $180.00 to $174.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Chevron has a consensus rating of “Hold” and a consensus target price of $183.18.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Progress on new upstream opportunities — Chevron is reported to be pursuing a deal in Venezuela that could meaningfully expand production if completed; this would be a long‑term growth lever for CVX. Could an Oil Deal in Venezuela Boost Chevron’s Stock?
• Positive Sentiment: Downstream expansion in Brazil — CVX is in advanced talks to buy a ~30% stake in Ultrapar’s Ipiranga retail unit, which would boost retail and refining exposure in a fast‑growing market. Chevron in Advanced Negotiations to Buy 30% Stake in Ipiranga
• Positive Sentiment: Analyst support and price-target lifts — Mizuho raised its target and flagged an outperform view; Barclays also published a bullish forecast, both supporting upside to the shares. Mizuho price-target raise / Benzinga Barclays Forecasts Strong Price Appreciation for Chevron
• Positive Sentiment: Dividend durability and fund inclusion — Chevron extended its long dividend-growth streak and remains a core holding in high‑yield/dividend funds, supporting investor demand for the stock. Is Chevron Balancing Dividend Strength With Rising Geopolitical Risk?
• Neutral Sentiment: Macro/commodity attention — Retail and analyst interest has CVX trending; Zacks and other outlets summarized fundamentals and positioning but offered no new catalyst beyond market interest. Chevron Is a Trending Stock (Zacks)
• Neutral Sentiment: Oil-price drivers — Rising WTI/Brent on Strait of Hormuz shipping uncertainty supports oil majors generally but also raises volatility risk; this is a market tailwind for CVX earnings but not company‑specific. Oil jumps over 2% as doubts linger over U.S.-backed plan to protect Strait of Hormuz shipping
• Negative Sentiment: Reputational/regulatory risk — WSJ reporting about past dealings involving an ex‑Chevron executive with U.S. intelligence raises governance and reputational questions that could attract regulatory or political scrutiny. Takeaways From WSJ Reporting on the CIA’s Dealings With an Ex-Chevron Executive
• Negative Sentiment: Compliance settlement — Chevron recently agreed to a settlement related to invalid renewable fuel credits; while not huge on the numbers, such items add headline risk and could affect ESG-focused investors. Is Chevron Balancing Dividend Strength With Rising Geopolitical Risk?

Chevron Trading Up 0.3%

CVX opened at $198.54 on Thursday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $200.73. 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 company has a market cap of $396.16 billion, a P/E ratio of 29.81, a price-to-earnings-growth ratio of 1.83 and a beta of 0.67. The company has a fifty day moving average price of $179.68 and a two-hundred day moving average price of $162.85.

Chevron (NYSE:CVX) last released its quarterly earnings data 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. The company had revenue of $45.79 billion for the quarter, compared to analysts’ expectations of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The business’s revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.06 EPS. Analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. Chevron’s dividend payout ratio (DPR) is currently 106.91%.

Insider Transactions at Chevron

In other Chevron news, 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 owned 8,558 shares in the company, valued at approximately $1,614,466.70. This represents a 87.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael K. Wirth sold 320,700 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $162.99, for a total value of $52,270,893.00. Following the completion of the sale, the chief executive officer directly owned 14,450 shares of the company’s stock, valued at $2,355,205.50. This trade represents a 95.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,099,397 shares of company stock valued at $196,196,468 in the last 90 days. Corporate insiders own 0.21% of the company’s stock.

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.