Arizona State Retirement System Lowers Stock Holdings in Chevron Corporation $CVX

Key Points

• Arizona State Retirement System trimmed its Chevron stake by 3.9% in Q4, selling 22,552 shares and ending the quarter with 550,056 shares worth about $83.83 million.
• Q4 results and payout: Chevron beat EPS estimates ($1.52 vs. $1.44) but missed revenue expectations and saw revenue down 10.2% year‑over‑year; the company raised its quarterly dividend to $1.78 (annualized $7.12), a ~3.8% yield with a payout ratio of ~107%.
• Insider selling and ownership: CEO Michael Wirth sold 272,624 shares (~$51.6M) and insiders sold 779,407 shares (~$146M) over the past 90 days, while hedge funds and other institutions own roughly 72.4% of CVX stock.

Arizona State Retirement System reduced its position in Chevron Corporation (NYSE:CVX - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 550,056 shares of the oil and gas company's stock after selling 22,552 shares during the quarter. Arizona State Retirement System's holdings in Chevron were worth $83,834,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Barlow Wealth Partners LLC grew its holdings in shares of Chevron by 1.1% in the fourth quarter. Barlow Wealth Partners LLC now owns 5,363 shares of the oil and gas company's stock valued at $869,000 after purchasing an additional 60 shares in the last quarter. Stone House Investment Management LLC lifted its holdings in Chevron by 6.1% during the 4th quarter. Stone House Investment Management LLC now owns 1,065 shares of the oil and gas company's stock worth $162,000 after buying an additional 61 shares in the last quarter. TigerOak Management L.L.C. boosted its position in Chevron by 0.7% in the 4th quarter. TigerOak Management L.L.C. now owns 9,020 shares of the oil and gas company's stock valued at $1,375,000 after buying an additional 62 shares during the period. Heritage Wealth Management Inc. boosted its position in Chevron by 0.3% in the 4th quarter. Heritage Wealth Management Inc. now owns 23,896 shares of the oil and gas company's stock valued at $3,642,000 after buying an additional 62 shares during the period. Finally, Wilkins Miller Wealth Management LLC grew its stake in shares of Chevron by 0.7% in the fourth quarter. Wilkins Miller Wealth Management LLC now owns 8,645 shares of the oil and gas company's stock worth $1,318,000 after acquiring an additional 63 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX stock opened at $187.67 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The firm has a fifty day moving average price of $192.53 and a 200 day moving average price of $169.84. The company has a market cap of $373.90 billion, a P/E ratio of 28.18, a PEG ratio of 0.78 and a beta of 0.60. Chevron Corporation has a 12 month low of $133.77 and a 12 month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly 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 company had revenue of $45.79 billion for the quarter, compared to analysts' expectations of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.Chevron's quarterly revenue was down 10.2% on a year-over-year basis. During the same period last year, the firm earned $2.06 earnings per share. Sell-side analysts predict that Chevron Corporation will post 12.49 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced 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 of this dividend was Tuesday, February 17th. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. Chevron's dividend payout ratio is 106.91%.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wheatstone LNG in Western Australia has returned to full production after repairs for cyclone damage, restoring liquefied natural gas volumes and cash flow that had been offline. Chevron resumes full production at Wheatstone LNG after repairs for cyclone damage
• Positive Sentiment: Energy sector momentum (NYSE Energy Sector Index gain) is providing a tailwind for major integrateds like Chevron, lifting sentiment across the group. Sector Update: Energy Stocks Rise Thursday
• Positive Sentiment: High‑profile investor support: coverage noting Warren Buffett’s continued large stake and Chevron’s growing development pipeline reinforces confidence in Chevron’s capital allocation and dividend/cash‑flow outlook. Deepening Growth Pipeline Sustains Warren Buffett’s Confidence In Chevron (CVX)
• Positive Sentiment: Chevron struck an asset‑swap agreement expanding its stake in Venezuelan heavy‑oil operations, which could boost long‑term upstream volumes if geopolitics and sanctions dynamics allow. Chevron Corporation (CVX) Expands Stakes in Venezuela Oil Operations
• Neutral Sentiment: Analyst and media lists continue to feature Chevron as a top crude/oil pick (BNP Paribas, other outlets), supporting longer‑term investor interest though price targets vary. Analysts Are Bullish on Top Energy Stocks: Chevron (CVX), Antero Resources (AR)
• Neutral Sentiment: Market lists and investment idea pieces (Zacks, InsiderMonkey) continue to include CVX among “old economy” or Buffett‑favored names—good for flows but not an immediate catalyst. Buy 5 High-Flying Old Economy Stocks of 2026 With More Room to Run
• Negative Sentiment: Operational/environmental risk: Chevron reported a crude oil spill at its Pasadena, Texas refinery — a local incident that may generate cleanup costs, potential fines and short‑term regional production disruption. Chevron refinery in Pasadena, Texas reports crude oil spill

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CVX shares. Morgan Stanley upped their price objective on Chevron from $174.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, March 27th. Royal Bank Of Canada lifted their target price on Chevron from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, April 13th. TD Cowen cut their price target on Chevron from $214.00 to $204.00 and set a "hold" rating on the stock in a report on Monday, April 13th. Zacks Research upgraded Chevron from a "hold" rating to a "strong-buy" rating in a report on Friday, April 3rd. Finally, Argus set a $203.00 price target on Chevron in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Chevron has an average rating of "Moderate Buy" and a consensus target price of $198.09.

Insider Activity

In other Chevron news, insider Alana K. Knowles sold 2,408 shares of the firm's stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $183.28, for a total transaction of $441,338.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael K. Wirth sold 272,624 shares of the business's stock in a transaction that occurred 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 of the company's stock, 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 779,407 shares of company stock valued at $145,972,971 over the last 90 days. 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.

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