Bank of America Corp DE Sells 424,770 Shares of Chevron Corporation $CVX

Bank of America Corp DE cut its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,205,457 shares of the oil and gas company's stock after selling 424,770 shares during the quarter. Bank of America Corp DE owned approximately 1.38% of Chevron worth $4,509,577,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CVX. BlackRock Inc. bought a new position in Chevron during the second quarter valued at $25,663,729,000. Berkshire Hathaway Inc lifted its stake in shares of Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock valued at $19,837,131,000 after buying an additional 8,091,570 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Chevron by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company's stock valued at $6,620,187,000 after buying an additional 134,890 shares in the last quarter. Norges Bank bought a new stake in Chevron during the 4th quarter valued at $3,727,586,000. Finally, Fisher Asset Management LLC lifted its position in shares of Chevron by 1.5% during the fourth quarter. Fisher Asset Management LLC now owns 21,471,919 shares of the oil and gas company's stock worth $3,272,535,000 after acquiring an additional 319,859 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on CVX. Wells Fargo & Company raised their target price on Chevron from $226.00 to $230.00 and gave the stock an "overweight" rating in a research note on Thursday, September 3rd. UBS Group reiterated a "buy" rating on shares of Chevron in a research report on Tuesday, June 23rd. TD Cowen raised their price target on shares of Chevron from $200.00 to $205.00 and gave the company a "hold" rating in a report on Wednesday, August 5th. Morgan Stanley upped their price target on shares of Chevron from $210.00 to $218.00 and gave the stock an "overweight" rating in a report on Wednesday, August 19th. Finally, Sanford C. Bernstein increased their price objective on Chevron from $204.00 to $209.00 and gave the stock a "market perform" rating in a research report on Monday, August 3rd. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $211.35.

Chevron Price Performance

Shares of Chevron stock opened at $211.93 on Tuesday. The stock has a market capitalization of $418.72 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 0.63 and a beta of 0.50. The company has a fifty day moving average of $196.40 and a 200-day moving average of $191.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $217.65.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company had revenue of $67.20 billion during the quarter, compared to analysts' expectations of $62.72 billion. During the same period in the prior year, the business posted $1.77 EPS. Chevron's quarterly revenue was up 57.4% compared to the same quarter last year. Equities research analysts expect that Chevron Corporation will post 16.51 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Wednesday, August 19th. Chevron's dividend payout ratio is currently 68.26%.

Insider Activity

In other news, Director John Hess sold 100,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the completion of the sale, the director directly owned 178,045 shares in the company, valued at approximately $34,587,021.70. This represents a 35.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew Walz sold 16,800 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider directly owned 14 shares in the company, valued at $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,152,582 shares of company stock worth $225,853,661. 0.56% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Global LNG expansion: Chevron is evaluating gas and LNG opportunities across Argentina, the Mediterranean, Africa and Australia, aiming to diversify supply and benefit from rising demand for secure energy supplies. The company also announced an LNG-related deal with an Indian buyer. Chevron eyes Argentina, Mediterranean for global LNG growth, deal with India
• Positive Sentiment: Higher oil-price outlook: Analysts point to tightening global oil buffers, Chevron’s record production, strong cash flow and improving earnings estimates as factors that could support additional upside if crude prices remain elevated. Chevron Sees Higher Oil Prices Ahead: Is It Set for More Upside?
• Positive Sentiment: Iraq growth option: Chevron signed a technical consultancy agreement for Iraq’s large West Qurna-2 oil field. Although the agreement does not immediately represent a full development contract, it could position Chevron for future upstream participation in a major producing asset. Chevron signs technical consultancy deal for Iraq’s huge West Qurna-2 oil field
• Neutral Sentiment: Dividend appeal: Commentary continues to highlight Chevron’s dividend and strong 2026 share performance, supporting its appeal to income-oriented investors, though it does not represent a new company announcement. Blue-Chip Stocks Are Looking Anything But Boring With Dividends and Big 2026 Gains
• Negative Sentiment: Venezuela uncertainty: Investors still lack clear results regarding Chevron’s Venezuela operations, leaving regulatory, political and execution risks unresolved. Chevron: Still Waiting For Clear Results From Venezuela

Chevron Profile

Chevron Corporation is an integrated energy company engaged in the exploration, production, transportation and sale of crude oil and natural gas. The company also manufactures and markets transportation fuels, lubricants, petrochemicals and additives through operations and brands that include Chevron, Texaco and Caltex.

Chevron's upstream activities include oil and natural gas exploration and production, while its downstream business includes refining, fuel marketing, transportation and related energy services.

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