ACT Capital Management LLC Buys New Stake in Chevron Corporation $CVX

Key Points

• ACT Capital Management opened a new position in Chevron, buying 78,500 shares valued at about $12.0 million. The stake makes Chevron the fund’s second-largest holding and roughly 9.7% of its portfolio.
• Institutional interest remains strong, with 72.42% of Chevron’s shares owned by institutional investors and hedge funds. Several large firms, including Norges Bank and State Street, also added to their holdings recently.
• Chevron’s stock has drawn mixed signals from Wall Street: analysts currently rate it a consensus “Moderate Buy” with a $205.70 price target, while insiders have sold shares in recent months. The stock last traded at $177.44, and Chevron also paid a quarterly dividend of $1.78 per share, yielding about 4.0%.

ACT Capital Management LLC bought a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 78,500 shares of the oil and gas company's stock, valued at approximately $11,964,000. Chevron accounts for about 9.7% of ACT Capital Management LLC's investment portfolio, making the stock its 2nd largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Chevron in the fourth quarter valued at $3,727,586,000. State Street Corp increased 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 buying an additional 12,789,399 shares in the last quarter. Primecap Management Co. CA purchased a new position in Chevron in the third quarter valued at $988,083,000. Northwestern Mutual Wealth Management Co. increased its holdings in Chevron by 822.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company's stock valued at $946,658,000 after buying an additional 5,537,580 shares in the last quarter. Finally, Amundi increased its holdings in Chevron by 41.8% in the third quarter. Amundi now owns 11,760,376 shares of the oil and gas company's stock valued at $1,811,333,000 after buying an additional 3,464,058 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider R. Hewitt Pate sold 40,200 shares of the company's stock in a transaction dated Monday, March 30th. The shares were 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 of the company's stock, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hess sold 380,000 shares of the company's stock in a transaction dated 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 directly owned 278,045 shares of the company's stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 615,200 shares of company stock valued at $118,022,760. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CVX shares. Bank of America lifted their price objective on shares of Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Piper Sandler lifted their price objective on shares of Chevron from $179.00 to $242.00 and gave the company an "overweight" rating in a report on Thursday, March 12th. Weiss Ratings cut shares of Chevron from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 2nd. Scotiabank lifted their price objective on shares of Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Finally, Sanford C. Bernstein cut their price objective on shares of Chevron from $216.00 to $204.00 and set a "market perform" rating for the company in a report on Monday, May 11th. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $205.70.

Chevron Stock Down 1.5%

CVX stock opened at $177.44 on Thursday. The stock has a market capitalization of $353.40 billion, a P/E ratio of 30.75, a P/E/G ratio of 0.59 and a beta of 0.48. The firm has a 50-day simple moving average of $187.58 and a 200-day simple moving average of $178.90. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 52 week low of $142.40 and a 52 week high of $214.71.

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

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron's dividend payout ratio is currently 123.40%.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron received a Buy rating from Jefferies, which supports the stock’s longer-term outlook and suggests analysts still see value in the shares. Article Title
• Positive Sentiment: Chevron secured a strategic entry into Greece’s Offshore Block 10, expanding its exploration footprint in the Eastern Mediterranean and adding a potential growth avenue. Article Title
• Neutral Sentiment: Chevron’s CEO reiterated that the investment case is not just about oil prices, pointing investors toward dividends, cash flow, and portfolio strength rather than only near-term crude moves. Article Title
• Neutral Sentiment: Several articles noted Chevron is in a wait-and-see zone after a strong run, with investors watching cash flow and dividend durability as the stock trades below its recent peak. Article Title
• Negative Sentiment: Chevron is being hit by a fall in crude prices tied to easing Middle East supply tensions, which can reduce upstream earnings expectations for an integrated oil major. Article Title
• Negative Sentiment: Market commentary also points to a broader rotation out of Big Oil and into consumer stocks as fuel costs decline, adding near-term pressure on Chevron shares. Article Title
• Negative Sentiment: Recent coverage on California refiners showed profit margins expanding sharply, which could keep attention on the refining segment but also highlights volatile industry economics rather than a clear tailwind for CVX. Article Title

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.

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