ABN Amro Investment Solutions Acquires New Holdings in Chevron Corporation $CVX

Key Points

• ABN Amro Investment Solutions bought a new Chevron stake in the fourth quarter, acquiring 72,799 shares valued at about $11.1 million.
• Chevron saw heavy institutional activity overall, with major holders like Vanguard, State Street, and Northern Trust increasing positions; institutions now own 72.42% of the company.
• Despite strong recent earnings and a $1.78 quarterly dividend yielding about 3.7%, Chevron shares were down around 3% and insider selling remained notable, including large sales by the CEO and vice chairman.

ABN Amro Investment Solutions acquired a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 72,799 shares of the oil and gas company's stock, valued at approximately $11,095,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Chevron by 17.9% during 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 acquiring an additional 27,961,463 shares in the last quarter. State Street Corp raised its position in Chevron by 9.1% during 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 acquiring an additional 12,789,399 shares in the last quarter. Northern Trust Corp raised its position 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 valued at $3,528,890,000 after acquiring an additional 3,007,403 shares in the last quarter. Fisher Asset Management LLC raised its position in Chevron by 1.6% during the third quarter. Fisher Asset Management LLC now owns 21,152,060 shares of the oil and gas company's stock valued at $3,284,704,000 after acquiring an additional 325,255 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Chevron by 27.9% during the third quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company's stock valued at $3,047,900,000 after acquiring an additional 4,279,918 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

In other Chevron news, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the sale, the insider 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael K. Wirth sold 272,624 shares of Chevron stock in a transaction 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 sale, the chief executive officer owned 31,266 shares in the company, valued at $5,920,217.10. This represents a 89.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 799,699 shares of company stock valued at $151,259,517 in the last three months. 0.56% of the stock is owned by insiders.

Chevron Trading Down 3.0%

Shares of CVX stock opened at $191.39 on Thursday. Chevron Corporation has a 1 year low of $133.77 and a 1 year high of $214.71. The firm's fifty day simple moving average is $193.45 and its 200 day simple moving average is $174.25. The firm has a market capitalization of $381.18 billion, a P/E ratio of 33.17, a price-to-earnings-growth ratio of 0.66 and a beta of 0.51. 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 - Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the previous year, the firm posted $2.18 earnings per share. Chevron's revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that Chevron Corporation will post 15.43 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be given a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. Chevron's payout ratio is 123.40%.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Oil prices remain elevated, and Zacks said WTI above $100 keeps Chevron and other Permian-focused energy names in the spotlight, supporting cash flow and investor interest. Article Title
• Positive Sentiment: Barrons argued Chevron can keep rising as oil prices increase, reinforcing the view that the company still has upside despite recent gains. Article Title
• Positive Sentiment: Bernstein analyst Bob Brackett said energy stocks like Chevron may be undervalued relative to Treasuries, framing CVX as an attractive income and total-return play. Article Title
• Positive Sentiment: Several recent pieces highlighted Chevron as a long-term, blue-chip energy holding, and Zacks noted rising earnings estimates for CVX, which can support the stock. Article Title
• Neutral Sentiment: Comparisons with Shell and ExxonMobil mainly keep Chevron in the investment conversation without adding a clear new catalyst. Article Title
• Negative Sentiment: The biggest overhang is Berkshire Hathaway’s latest stake reduction in Chevron, which can weigh on sentiment even though Berkshire still holds a meaningful position. Article Title

Wall Street Analyst Weigh In

CVX has been the topic of several recent research reports. Piper Sandler raised their price objective 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 shares of Chevron from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 3rd. Royal Bank Of Canada reissued an "outperform" rating and issued a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. BMO Capital Markets reissued an "outperform" rating and issued a $190.00 price target on shares of Chevron in a research report on Monday, February 2nd. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $216.00 price target on shares of Chevron in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $204.13.

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.

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