Bank of New York Mellon Corp Buys Shares of 14,346,731 Chevron Corporation $CVX

Bank of New York Mellon Corp purchased a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,346,731 shares of the oil and gas company's stock, valued at approximately $2,378,114,000. Bank of New York Mellon Corp owned approximately 0.72% of Chevron as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. Midwest Capital Advisors LLC purchased a new stake in shares of Chevron in the 1st quarter valued at $25,000. Core Wealth Advisors LLC purchased a new position in Chevron during the 4th quarter valued at about $26,000. Phillip James Consulting Co. acquired a new position in Chevron in the 4th quarter valued at about $26,000. Basso Capital Management L.P. purchased a new stake in Chevron during the fourth quarter worth about $27,000. Finally, Karpus Management Inc. purchased a new stake in Chevron during the fourth quarter worth about $27,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 0.0%

CVX stock opened at $205.85 on Friday. The company's 50 day moving average price is $184.67 and its 200 day moving average price is $187.95. The firm has a market capitalization of $406.71 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 0.63 and a beta of 0.49. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. 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 (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.51. The business had revenue of $67.20 billion during the quarter, compared to analysts' expectations of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company's revenue for the quarter was up 57.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.77 EPS. On average, equities research analysts anticipate that Chevron Corporation will post 15.86 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a $1.78 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.5%. Chevron's dividend payout ratio (DPR) is currently 68.26%.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 317,100 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the transaction, the chief executive officer directly owned 26,308 shares of the company's stock, valued at $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew Benjamin Walz sold 16,800 shares of the company'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 completion of the transaction, the insider directly owned 14 shares of the company's stock, valued at $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,152,582 shares of company stock valued at $225,853,661 over the last quarter. Corporate insiders own 0.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Chevron from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Bank of America raised their price target on shares of Chevron from $210.00 to $227.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Royal Bank Of Canada restated an "outperform" rating and issued a $220.00 price target on shares of Chevron in a research note on Tuesday, May 5th. Jefferies Financial Group reaffirmed a "buy" rating and set a $216.00 price objective on shares of Chevron in a research report on Friday, July 10th. Finally, Weiss Ratings upgraded Chevron from a "hold (c)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $207.48.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron confirmed a sizable oil and gas condensate discovery at the 105-4X well in offshore Angola’s Block 0. The more than 600-meter hydrocarbon column and over 90 meters of net pay could support future production, while a tie-back to existing facilities may reduce development costs. Chevron Angola discovery analysis
• Positive Sentiment: Equinor’s agreement to acquire a 17.4% interest in Chevron-operated offshore Namibia exploration acreage allows CVX to share exploration costs while retaining operatorship, reducing financial exposure ahead of planned 2026 drilling. Equinor enters Namibia with stake in Chevron-operated block
• Positive Sentiment: Options traders purchased unusually large volumes of CVX call options, indicating stronger bullish positioning and potentially adding momentum to the rally.
• Positive Sentiment: Chevron’s shareholder-return profile remains supportive: the company recently declared a $1.78 quarterly dividend, equivalent to $7.12 annually and an approximately 3.5% yield. Its latest quarterly results also exceeded expectations, with adjusted EPS of $6.06 versus $5.55 expected and revenue of $67.2 billion versus $62.72 billion forecast.
• Neutral Sentiment: Analyst sentiment is broadly favorable. Morgan Stanley raised its target to $218 and maintained an overweight rating, while the broader analyst consensus remains “Moderate Buy.” However, the stock’s continued performance is highly sensitive to crude prices and Middle East developments.
• Negative Sentiment: Several insiders sold shares, including CEO Michael Wirth’s sale of 317,100 shares worth about $63.6 million and Andrew Benjamin Walz’s sale of 16,800 shares. These transactions may weigh on sentiment, although they can reflect personal financial planning rather than concerns about Chevron’s fundamentals. Chevron CEO SEC filing

Chevron Company 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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