Atalanta Sosnoff Capital LLC Purchases 55,632 Shares of Chevron Corporation $CVX

Atalanta Sosnoff Capital LLC grew its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 2,978.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 57,500 shares of the oil and gas company's stock after acquiring an additional 55,632 shares during the quarter. Atalanta Sosnoff Capital LLC's holdings in Chevron were worth $8,764,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. United Bank increased its holdings in Chevron by 7.7% in the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company's stock worth $1,586,000 after purchasing an additional 796 shares in the last quarter. Schnieders Capital Management LLC. increased its holdings in Chevron by 9.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company's stock worth $7,280,000 after purchasing an additional 4,214 shares in the last quarter. BNP Paribas increased its holdings in Chevron by 76.4% in the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company's stock worth $63,000 after purchasing an additional 191 shares in the last quarter. Osterweis Capital Management Inc. increased its stake in shares of Chevron by 678.9% in the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company's stock valued at $195,000 after buying an additional 1,188 shares during the period. Finally, Main Street Financial Solutions LLC boosted its position in Chevron by 3.6% during the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company's stock valued at $2,299,000 after acquiring an additional 553 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron News Roundup

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Zacks Research cut Chevron from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. The Goldman Sachs Group reiterated a "buy" rating and issued a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Citigroup increased their price target on Chevron from $210.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. Finally, UBS Group raised their target price on Chevron from $218.00 to $220.00 and gave the company a "buy" rating in a report on Monday, May 4th. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $205.70.

Chevron Price Performance

Shares of NYSE CVX opened at $186.96 on Friday. The stock 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. Chevron Corporation has a fifty-two week low of $142.40 and a fifty-two week high of $214.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The stock has a fifty day moving average of $188.75 and a 200-day moving average of $178.06.

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

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron's payout ratio is 123.40%.

Insider Transactions at Chevron

In related news, insider R. Hewitt Pate sold 40,200 shares of the company's stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the sale, the insider owned 8,638 shares in the company, valued at $1,842,485.40. This represents a 82.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 380,000 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 615,200 shares of company stock worth $118,022,760. 0.56% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX - Free Report).

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.