Advisors Capital Management LLC Has $92.50 Million Stake in Chevron Corporation $CVX

Key Points

• Advisors Capital Management boosted its stake in Chevron by 1.7% to 606,900 shares worth about $92.5 million, representing 1.1% of its portfolio and the firm's 18th largest holding.
• Institutional investors own a large majority of CVX—72.42%—with heavy positions and recent buys from Vanguard (≈183.8M shares, ~$28.5B) and State Street (≈152.6M shares, ~$23.7B), highlighting concentrated institutional exposure.
• Analysts’ consensus is a “Moderate Buy” with an average price target of $198.09, and Chevron recently raised its quarterly dividend to $1.78 (annualized $7.12, ~3.8% yield), supporting income-focused investors.

Advisors Capital Management LLC increased its position in Chevron Corporation (NYSE:CVX - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 606,900 shares of the oil and gas company's stock after purchasing an additional 10,292 shares during the period. Chevron makes up 1.1% of Advisors Capital Management LLC's investment portfolio, making the stock its 18th largest holding. Advisors Capital Management LLC's holdings in Chevron were worth $92,498,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CVX. Vanguard Group Inc. lifted its holdings in shares of Chevron by 17.9% in 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 in the last quarter. State Street Corp lifted its holdings 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 worth $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Primecap Management Co. CA bought a new position in shares of Chevron in the 3rd quarter worth $988,083,000. Bank of New York Mellon Corp lifted its holdings in shares of Chevron by 27.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company's stock worth $3,047,900,000 after purchasing an additional 4,279,918 shares in the last quarter. Finally, Amundi lifted its holdings in shares of Chevron by 41.8% in the 3rd quarter. Amundi now owns 11,760,376 shares of the oil and gas company's stock worth $1,811,333,000 after purchasing an additional 3,464,058 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wheatstone LNG has fully resumed production after cyclone repairs, restoring expected cash flow from the Australian LNG asset and removing a short-term production drag. Chevron resumes full production at Wheatstone LNG after repairs for cyclone damage
• Positive Sentiment: Chevron says it reached an asset-swap agreement that expands its stake in Venezuelan heavy oil operations — a move that could lift reserves and long-term production potential if implemented. Chevron Corporation (CVX) Expands Stakes in Venezuela Oil Operations
• Positive Sentiment: Warren Buffett’s ongoing stake and commentary on Chevron continue to be cited as a vote of confidence for long-term investors, supporting sentiment versus peers. Deepening Growth Pipeline Sustains Warren Buffett’s Confidence In Chevron (CVX)
• Positive Sentiment: Zacks has highlighted Chevron as a Bull of the Day and it's included in lists of high-flying "old economy" stocks with room to run — analyst attention can help prop up demand in a pullback. Chevron and Avis Budget have been highlighted as Zacks Bull and Bear of the Day
• Neutral Sentiment: Chevron is a trending stock with increased retail and analyst attention; that raises liquidity and volatility but is ambivalent for direction without fresh catalysts. Chevron Corporation (CVX) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Venezuelan partner Suelopetrol says it was not informed of Chevron’s reported expansion — a public dispute that raises execution, legal and geopolitical risk around the asset-swap and could delay realization of the announced upside. Suelopetrol says it has not been Informed of Chevron’s (CVX) Expansion at Venezuela Joint Venture
• Negative Sentiment: Zacks preview flags an expected decline in Q1 earnings, which raises the risk of a disappointing release and near-term downside if results or guidance miss. Earnings Preview: Chevron (CVX) Q1 Earnings Expected to Decline
• Negative Sentiment: After a strong YTD rally, articles note a month-long cooldown and profit-taking in big oil names; that broader flow explains part of today’s pullback even without company-specific bad news. Exxon Stock and Chevron Stock Are Up 20%+ YTD – Why the Long Oil Trade Is Stalling Out

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CVX shares. Argus set a $203.00 target price on Chevron in a report on Tuesday, February 3rd. Mizuho increased their target price on Chevron from $206.00 to $217.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. JPMorgan Chase & Co. raised Chevron from a "neutral" rating to an "overweight" rating and set a $176.00 price target for the company in a research report on Tuesday, January 20th. BNP Paribas Exane raised Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price target for the company in a research report on Friday, April 17th. Finally, Wells Fargo & Company increased their price target on Chevron from $204.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Chevron presently has a consensus rating of "Moderate Buy" and an average price target of $198.09.

Insider Activity

In other news, insider Alana K. Knowles sold 2,408 shares of Chevron stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $183.28, for a total transaction of $441,338.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Benjamin Walz sold 11,600 shares of Chevron stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $188.58, for a total value of $2,187,528.00. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 779,407 shares of company stock worth $145,972,971. Company insiders own 0.56% of the company's stock.

Chevron Trading Down 1.3%

Shares of Chevron stock opened at $185.13 on Friday. Chevron Corporation has a 1 year low of $133.77 and a 1 year high of $214.71. The stock has a fifty day moving average price of $192.56 and a 200-day moving average price of $170.16. The firm has a market cap of $368.82 billion, a PE ratio of 27.80, a P/E/G ratio of 0.79 and a beta of 0.60. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.08. The firm had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The company's revenue was down 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.06 EPS. Equities research analysts anticipate that Chevron Corporation will post 12.49 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were given a dividend of $1.78 per share. This is a boost from Chevron's previous quarterly dividend of $1.71. The ex-dividend date was Tuesday, February 17th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. Chevron's dividend payout ratio is 106.91%.

Chevron 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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