Aigen Investment Management LP Takes Position in Chevron Corporation $CVX

Key Points

• Aigen Investment Management LP opened a new position in Chevron in the fourth quarter, buying 7,509 shares valued at about $1.14 million.
• Several other hedge funds also boosted or added to Chevron stakes, and institutional investors now own 72.42% of the company’s shares.
• Wall Street remains broadly constructive on Chevron, with 18 Buy ratings versus 6 Holds and 1 Sell, and a consensus price target of $205.70.

Aigen Investment Management LP bought a new stake in Chevron Corporation (NYSE:CVX - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,509 shares of the oil and gas company's stock, valued at approximately $1,144,000.

A number of other hedge funds have also recently modified their holdings of the company. Atlas Capital Advisors Inc. purchased a new stake in shares of Chevron in the fourth quarter valued at about $230,000. Aptus Capital Advisors LLC grew its holdings in shares of Chevron by 8.1% in the fourth quarter. Aptus Capital Advisors LLC now owns 63,812 shares of the oil and gas company's stock valued at $9,726,000 after purchasing an additional 4,804 shares during the period. Arete Wealth Advisors LLC grew its holdings in shares of Chevron by 1.6% in the fourth quarter. Arete Wealth Advisors LLC now owns 22,361 shares of the oil and gas company's stock valued at $3,409,000 after purchasing an additional 351 shares during the period. FORA Capital LLC grew its holdings in shares of Chevron by 927.8% in the fourth quarter. FORA Capital LLC now owns 71,115 shares of the oil and gas company's stock valued at $10,839,000 after purchasing an additional 64,196 shares during the period. Finally, Burton Enright Welch purchased a new stake in shares of Chevron in the fourth quarter valued at about $12,599,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CVX shares. Citigroup upped their price objective on shares of Chevron from $210.00 to $235.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. Weiss Ratings lowered shares of Chevron from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 2nd. HSBC raised shares of Chevron from a "hold" rating to a "buy" rating and set a $215.00 price objective for the company in a report on Friday, March 20th. Bank of America upped 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. Finally, UBS Group upped their price objective on shares of Chevron from $218.00 to $220.00 and gave the company a "buy" rating in a report on Monday, May 4th. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $205.70.

Insider Activity

In other news, insider R. Hewitt Pate sold 40,200 shares of the 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hess sold 380,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was 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 in the company, valued at $53,718,294. This 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 worth $118,022,760 in the last three months. Corporate insiders own 0.56% of the company's stock.

Chevron Trading Up 0.6%

Shares of CVX stock opened at $186.96 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The firm has a market cap of $372.34 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 0.61 and a beta of 0.48. The company has a 50-day moving average of $188.75 and a two-hundred day moving average of $178.06. Chevron Corporation has a 1-year low of $142.40 and a 1-year high of $214.71.

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 for the quarter, topping the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron's revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.18 earnings per share. On average, analysts predict that Chevron Corporation will post 15.88 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given 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 of this dividend was Tuesday, May 19th. Chevron's dividend payout ratio is currently 123.40%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reportedly joined YPF and Pluspetrol in backing TGS’s $3 billion Argentina NGL project, improving the odds of a final investment decision and signaling another potential growth avenue for Chevron outside its core assets. Chevron and Partners to Support TGS-Led Argentina NGL Project
• Positive Sentiment: CEO Mike Wirth said Chevron is still looking at new opportunities in the Middle East and could expand its regional exposure, reinforcing the company’s growth optionality in a strategic energy market. Chevron continues to look at new opportunities in Middle East, CEO says
• Positive Sentiment: Analyst commentary remained constructive, with Erste Group raising FY2026 and FY2027 earnings estimates for Chevron, suggesting expectations for solid profitability remain intact.
• Positive Sentiment: Multiple articles highlighted Chevron as a high-yield, value-oriented energy name, which may be supporting demand from income and valuation-focused investors.
• Neutral Sentiment: Chevron’s CEO pushed back on claims about Persian Gulf oil flow volumes, while U.S. crude inventories continue to decline; this adds uncertainty but does not clearly change Chevron’s fundamental outlook. U.S. energy secretary says 7 million barrels of oil exiting Persian Gulf daily, but Chevron CEO rebuts the claim
• Neutral Sentiment: Separate commentary on Chevron’s valuation and broader energy-sector strength points to ongoing momentum, but these pieces are more supportive of the stock’s longer-term case than a direct near-term catalyst. Assessing Chevron (CVX) Valuation After Recent Gains And Mixed Undervaluation Signals
• Negative Sentiment: Oil prices fell to their lowest level since early March as markets priced in potentially higher Strait of Hormuz flows and progress toward an interim peace deal, which can pressure Chevron’s upstream earnings expectations. Oil Hits Lowest Since Early March on Potential Hormuz Reopening

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.