Banco Santander S.A. Has $38.35 Million Position in Chevron Corporation $CVX

Key Points

• Banco Santander S.A. increased its Chevron stake by 127.7% in the fourth quarter, ending with 251,633 shares worth about $38.35 million.
• Institutional interest in Chevron remains strong, with 72.42% of the stock held by institutions and hedge funds despite some notable insider selling. Director John B. Hess and insider R. Hewitt Pate both sold large blocks of shares last quarter.
• Analysts remain mostly bullish on Chevron, with the stock carrying a “Moderate Buy” rating and an average price target of $205.70. Recent commentary also highlighted higher earnings estimates and potential growth opportunities in places like Argentina and the Middle East.

Banco Santander S.A. lifted its position in Chevron Corporation (NYSE:CVX - Free Report) by 127.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 251,633 shares of the oil and gas company's stock after purchasing an additional 141,103 shares during the quarter. Banco Santander S.A.'s holdings in Chevron were worth $38,351,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Sumitomo Life Insurance Co. raised its stake in shares of Chevron by 0.9% in the fourth quarter. Sumitomo Life Insurance Co. now owns 20,179 shares of the oil and gas company's stock valued at $3,075,000 after purchasing an additional 175 shares in the last quarter. Solstein Capital LLC raised its holdings in shares of Chevron by 34.6% in the 4th quarter. Solstein Capital LLC now owns 3,076 shares of the oil and gas company's stock worth $469,000 after buying an additional 790 shares in the last quarter. Tudor Financial Inc. raised its holdings in shares of Chevron by 2.1% in the 4th quarter. Tudor Financial Inc. now owns 5,291 shares of the oil and gas company's stock worth $806,000 after buying an additional 107 shares in the last quarter. Atalanta Sosnoff Capital LLC raised its holdings in shares of Chevron by 2,978.2% in the 4th quarter. Atalanta Sosnoff Capital LLC now owns 57,500 shares of the oil and gas company's stock worth $8,764,000 after buying an additional 55,632 shares in the last quarter. Finally, Gerber Kawasaki Wealth & Investment Management raised its holdings in shares of Chevron by 11.8% in the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 6,580 shares of the oil and gas company's stock worth $1,003,000 after buying an additional 695 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CVX shares. Piper Sandler increased their target price on Chevron from $179.00 to $242.00 and gave the stock an "overweight" rating in a report on Thursday, March 12th. Mizuho raised their price objective on shares of Chevron from $225.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, May 27th. Morgan Stanley raised their price objective on shares of Chevron from $212.00 to $214.00 and gave the stock an "overweight" rating in a report on Friday, May 22nd. BNP Paribas Exane raised shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price objective for the company in a report on Friday, April 17th. Finally, TD Cowen raised their price objective on shares of Chevron from $204.00 to $205.00 and gave the stock a "hold" rating in a report on Friday, May 8th. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $205.70.

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the company's stock in a transaction that occurred on 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 transaction, the insider owned 8,638 shares of the company's stock, valued at $1,842,485.40. This trade represents a 82.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 615,200 shares of company stock valued at $118,022,760 in the last quarter. Corporate insiders own 0.56% of the company's stock.

Key Stories Impacting Chevron

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

Chevron Price Performance

Shares of CVX stock opened at $186.96 on Friday. Chevron Corporation has a 12-month low of $142.40 and a 12-month high of $214.71. The firm has a market capitalization of $372.34 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 0.61 and a beta of 0.48. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm 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 announced its quarterly earnings results 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 net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the previous year, the business earned $2.18 EPS. The firm's revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Dividend Announcement

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

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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