Bartlett & CO. Wealth Management LLC Sells 17,566 Shares of Chevron Corporation $CVX

Key Points

• Bartlett & CO. Wealth Management reduced its stake in Chevron by 3.5%, selling 17,566 shares and leaving 478,543 shares valued at $72,935,000, while institutional investors own about 72.42% of the stock.
• Chevron raised its quarterly dividend to $1.78 (annualized $7.12, ~3.8% yield) despite a payout ratio of 106.91%, reported Q4 EPS of $1.52 (vs. $1.44 estimate) with revenue down 10.2% YoY, and announced positive growth catalysts (Bandit discovery, approval of the ~$690M Aseng gas project) offset by risks from Middle East volatility and hedging that could hit Q1 results.
• Insiders have sold 782,607 shares (~$146.5M) over the last 90 days, and analysts hold a mixed view overall with a consensus rating of “Moderate Buy” and a consensus target price of $190.04.

Bartlett & CO. Wealth Management LLC reduced its position in Chevron Corporation (NYSE:CVX - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 478,543 shares of the oil and gas company's stock after selling 17,566 shares during the period. Chevron makes up 1.0% of Bartlett & CO. Wealth Management LLC's investment portfolio, making the stock its 29th largest holding. Bartlett & CO. Wealth Management LLC's holdings in Chevron were worth $72,935,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Perigon Wealth Management LLC lifted its stake in Chevron by 19.3% during the 3rd quarter. Perigon Wealth Management LLC now owns 73,448 shares of the oil and gas company's stock valued at $11,406,000 after acquiring an additional 11,875 shares in the last quarter. Dakota Wealth Management boosted its holdings in shares of Chevron by 14.9% in the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock worth $12,690,000 after buying an additional 10,822 shares during the last quarter. Brooklyn FI LLC purchased a new position in shares of Chevron in the 3rd quarter worth about $431,000. New York State Teachers Retirement System boosted its holdings in shares of Chevron by 15.3% in the 3rd quarter. New York State Teachers Retirement System now owns 1,620,231 shares of the oil and gas company's stock worth $251,606,000 after buying an additional 215,345 shares during the last quarter. Finally, Clear Trail Advisors LLC purchased a new position in shares of Chevron in the 4th quarter worth about $10,167,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CVX shares. Weiss Ratings reissued a "hold (c)" rating on shares of Chevron in a report on Wednesday, January 21st. Scotiabank raised shares of Chevron to a "hold" rating in a report on Friday, March 27th. Wells Fargo & Company boosted their price target on shares of Chevron from $204.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday. Freedom Capital downgraded shares of Chevron from a "hold" rating to a "strong sell" rating in a report on Tuesday, January 6th. Finally, Tudor Pickering upgraded Chevron from a "hold" rating to a "buy" rating and set a $225.00 price objective on the stock in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Chevron presently has an average rating of "Moderate Buy" and a consensus target price of $190.04.

Insiders Place Their Bets

In other news, insider Alana K. Knowles sold 2,408 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $183.28, for a total transaction of $441,338.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Benjamin Walz sold 11,600 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $188.58, for a total value of $2,187,528.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 782,607 shares of company stock valued at $146,510,571 over the last 90 days. Company insiders own 0.21% of the company's stock.

Chevron Stock Down 0.9%

Shares of CVX opened at $188.57 on Friday. The firm has a market cap of $375.68 billion, a P/E ratio of 28.31, a P/E/G ratio of 1.41 and a beta of 0.60. The stock has a 50 day simple moving average of $191.51 and a two-hundred day simple moving average of $167.98. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.08. The business had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.Chevron's revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.06 earnings per share. On average, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were paid a $1.78 dividend. This is an increase from Chevron's previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, February 17th. Chevron's payout ratio is currently 106.91%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Confirmed oil discovery at the Bandit prospect in the Gulf of America bolsters Chevron's deepwater growth optionality and potential future production/tie‑back opportunities. Chevron Confirms Major Oil Discovery in the Gulf of America
• Positive Sentiment: Short interest fell materially in March (down ~14.5% to ~21.0M shares; days‑to‑cover ~1.3), reducing one potential source of near‑term downside pressure.
• Positive Sentiment: Chevron approved the ~$690M Aseng gas project, strengthening its LNG growth profile and future cash‑flow diversification. Chevron Approves $690M Aseng Gas Project to Boost LNG Supply
• Neutral Sentiment: Street estimates are split: some reports forecast a Q1 upstream boost (+$1.6B–$2.2B) from higher oil/gas prices, supporting earnings upside if prices hold. Chevron forecasts up to $2.2 bln boost to upstream earnings from higher prices in Q1
• Neutral Sentiment: Analysts warn Q1 will be "noisy" with offsetting forces (price tailwinds vs hedging/volatility); the report due May 1 is a likely catalyst. Chevron Q1 Earnings Will Be 'Noisy' As Headwinds Reverse To Tailwinds: Analyst
• Negative Sentiment: Chevron warned that Middle East volatility and related effects (including hedging) could hit Q1 earnings and cash flow materially — management cited an adverse impact in the multi‑billion‑dollar range, prompting UBS to cut near‑term forecasts. Chevron flags multi-billion-dollar hit from Middle East volatility
• Negative Sentiment: Public commentary highlights hedging risks and potential earnings drag from geopolitical disruptions, adding downside risk to near‑term prints. Chevron sees Iran war oil boost, warns hedging to weigh
• Negative Sentiment: Wall Street previews suggest EPS could be down double digits in Q1 absent favorable price offsets, increasing the chance of volatile reaction at the report. Chevron's Quarterly Earnings Preview: What You Need to Know

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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