Bingham Private Wealth LLC Makes New Investment in Chevron Corporation $CVX

Key Points

• Bingham Private Wealth LLC opened a new position in Chevron (NYSE:CVX) in Q4, acquiring 6,926 shares worth about $1.06 million, joining large institutional holders that now own roughly 72.42% of the stock.
• Several analysts have upgraded CVX and raised price targets, leaving a MarketBeat consensus rating of Moderate Buy with a consensus target price of $195.09.
• Chevron's Q4 results beat on EPS ($1.52 vs. $1.44) but revenue fell 10.2% year‑over‑year; the company raised its quarterly dividend to $1.78 (3.8% yield) amid recent large insider stock sales.

Bingham Private Wealth LLC acquired a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,926 shares of the oil and gas company's stock, valued at approximately $1,056,000.

A number of other hedge funds have also recently added to or reduced their stakes in CVX. Vanguard Group Inc. increased its stake in Chevron by 17.9% during the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company's stock worth $28,540,753,000 after acquiring an additional 27,961,463 shares during the period. State Street Corp boosted its holdings in shares of Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Primecap Management Co. CA acquired a new stake in shares of Chevron in the 3rd quarter valued at $988,083,000. Bank of New York Mellon Corp boosted its holdings in shares of Chevron by 27.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company's stock valued at $3,047,900,000 after purchasing an additional 4,279,918 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Chevron by 41.8% in the 3rd quarter. Amundi now owns 11,760,376 shares of the oil and gas company's stock valued at $1,811,333,000 after purchasing an additional 3,464,058 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CVX shares. Tudor Pickering raised Chevron from a "hold" rating to a "buy" rating and set a $225.00 target price on the stock in a report on Thursday, April 9th. Jefferies Financial Group raised their target price on Chevron from $174.00 to $189.00 and gave the company a "buy" rating in a report on Wednesday, January 14th. Citigroup raised their target price on Chevron from $210.00 to $235.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. Zacks Research raised Chevron from a "hold" rating to a "strong-buy" rating in a report on Friday, April 3rd. Finally, Morgan Stanley raised their target price on Chevron from $174.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $195.09.

Chevron Trading Down 2.5%

NYSE CVX opened at $186.95 on Wednesday. The company has a market cap of $372.46 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 1.42 and a beta of 0.60. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21. Chevron Corporation has a twelve month low of $132.33 and a twelve month high of $214.71. The business's fifty day moving average is $192.03 and its 200 day moving average is $168.52.

Chevron (NYSE:CVX - Get Free Report) last announced 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% compared to the same quarter last year. During the same period last year, the company earned $2.06 EPS. As a group, sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

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

Insider Buying and Selling at Chevron

In related news, Vice Chairman Mark A. Nelson sold 139,600 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the transaction, the insider directly owned 11,337 shares of the company's stock, valued at $2,130,449.04. This trade represents a 92.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael K. Wirth sold 272,624 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the transaction, the chief executive officer directly owned 31,266 shares of the company's stock, valued at approximately $5,920,217.10. This represents a 89.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 779,407 shares of company stock worth $145,972,971 over the last 90 days. Company insiders own 0.20% of the company's stock.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron announced an asset swap that raises its Petroindependencia stake to ~49% and secures Orinoco heavy‑oil development rights — a long‑term boost to heavy crude exposure and valuation. Read More.
• Positive Sentiment: Royal Bank of Canada lifted its price target and other outlets report analyst upgrades tied to recent discoveries and stronger oil fundamentals — supportive for upside expectations. Read More.
• Positive Sentiment: Large institutional interest — Berkshire Hathaway added to its Chevron stake, a credible long‑term vote of confidence that can attract other investors. Read More.
• Positive Sentiment: High‑visibility endorsements (Jim Cramer recommending Chevron for offshore exposure) and reports of a Gulf discovery are driving retail and momentum flows into the stock. Read More. Read More.
• Neutral Sentiment: Q4 results were mixed — EPS beat but revenue missed and year‑over‑year sales declined, leaving near‑term earnings visibility somewhat uncertain despite strong operating cash flow. Read More.
• Neutral Sentiment: Management expects higher Q1 profits given current geopolitical oil dynamics, which supports forward earnings estimates but depends on sustained oil prices and stable operations. Read More.
• Negative Sentiment: Execution/regulatory risk in Venezuela: Suelopetrol says it has not been notified of Chevron’s expansion in the joint venture — introduces uncertainty about timing/approval of the asset swap and could delay or alter expected benefits. Read More.
• Negative Sentiment: Some analyst caution persists — a recent TD Cowen adjustment to a lower price target/hold view and notes about near‑term earnings headwinds temper upside momentum. Read More.

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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