Chevron Corporation $CVX Shares Sold by Commonwealth Retirement Investments LLC

Commonwealth Retirement Investments LLC trimmed its holdings in Chevron Corporation (NYSE:CVX) by 12.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,620 shares of the oil and gas company’s stock after selling 6,561 shares during the quarter. Chevron comprises approximately 2.3% of Commonwealth Retirement Investments LLC’s portfolio, making the stock its 12th biggest position. Commonwealth Retirement Investments LLC’s holdings in Chevron were worth $7,105,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Chevron by 17.9% in the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after purchasing an additional 27,961,463 shares in the last quarter. State Street Corp boosted its holdings in Chevron by 9.1% in the third 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 in the last quarter. Geode Capital Management LLC boosted its holdings in Chevron by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after purchasing an additional 134,890 shares in the last quarter. Norges Bank acquired a new position in Chevron in the fourth quarter valued at approximately $3,727,586,000. Finally, Northern Trust Corp boosted its holdings in Chevron by 15.3% in the third quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company’s stock valued at $3,528,890,000 after purchasing an additional 3,007,403 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Analysts and market commentary are pointing to Chevron as a strong long-term buy, citing its scale, integrated business model, and durable cash generation. Why Chevron (CVX) is a Top Stock for the Long-Term
• Positive Sentiment: Chevron was also highlighted as one of the better energy dividend stocks for income investors, with its payout seen as dependable amid oil-price volatility. Want Income? Buy These 3 Top Energy Dividend Stocks Now
• Positive Sentiment: Recent coverage of Chevron’s first-quarter results emphasized a 24% jump in U.S. production and $6 billion returned to shareholders through dividends and buybacks, reinforcing the company’s cash-return story. Q1 Results Are In: Chevron Boosted U.S. Production 24% and Returned $6 Billion to Shareholders. Is CVX Stock a Buy Now?
• Neutral Sentiment: Chevron was included in a Zacks analyst roundup alongside Micron and Quanta Services as a market idea, but the mention was broad and not tied to a fresh company-specific catalyst. The Zacks Analyst Blog Highlights Micron, Chevron and Quanta Services
• Neutral Sentiment: Other energy-sector pieces discussed oil pricing, LNG disruptions, and peers like Exxon Mobil and Matador, which frame the backdrop for Chevron but do not directly change the company’s outlook. Is XOM Worth Betting on at its Premium Price or Should Investors Wait?

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CVX. Morgan Stanley increased their price objective on Chevron from $212.00 to $214.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Citigroup increased their price objective on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Piper Sandler increased their price objective on Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. Finally, Weiss Ratings downgraded Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.70.

Chevron Price Performance

CVX stock opened at $189.18 on Tuesday. The company has a market capitalization of $376.77 billion, a P/E ratio of 32.79, a PEG ratio of 0.62 and a beta of 0.48. Chevron Corporation has a twelve month low of $139.68 and a twelve month high of $214.71. The business has a 50 day simple moving average of $190.29 and a 200-day simple moving average of $177.22. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.

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 business had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the prior year, the business earned $2.18 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Corporation will post 15.74 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.

Insider Activity at Chevron

In other news, insider R. Hewitt Pate sold 40,200 shares of the company’s stock in a transaction that occurred 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 sale, the insider owned 8,638 shares in the company, valued at $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 615,200 shares of company stock valued at $118,022,760 in the last 90 days. Company insiders own 0.56% of the company’s stock.

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.