Cane Capital Partners LLC Trims Stake in Chevron Corporation $CVX

Key Points

• Cane Capital Partners cut its Chevron stake by 67.2% in the first quarter, selling 7,467 shares and leaving it with 3,643 shares valued at about $754,000.
• Chevron drew mixed institutional and insider activity: hedge funds still own 72.42% of the stock, while director John B. Hess sold 380,000 shares in May, reducing his position by 57.75%.
• The stock remains supported by positive catalysts such as a Wolfe Research upgrade to Outperform and Chevron’s 20-year Microsoft power deal for an AI data center, but weaker oil prices and a lower Morgan Stanley price target add near-term pressure.

Cane Capital Partners LLC reduced its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 67.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,643 shares of the oil and gas company's stock after selling 7,467 shares during the period. Cane Capital Partners LLC's holdings in Chevron were worth $754,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Core Wealth Advisors LLC bought a new position in shares of Chevron during the fourth quarter valued at about $26,000. Phillip James Consulting Co. purchased a new stake in Chevron in the fourth quarter worth $26,000. Basso Capital Management L.P. bought a new stake in shares of Chevron during the 4th quarter valued at about $27,000. Karpus Management Inc. purchased a new position in shares of Chevron during the 4th quarter worth approximately $27,000. Finally, Quattro Advisors LLC bought a new position in Chevron in the fourth quarter worth $27,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 380,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company's stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wolfe Research upgraded Chevron to Outperform, saying the recent pullback has made the shares more attractive and that improving long-term free cash flow is not fully reflected in the stock price. Wolfe Research upgrades Chevron to Outperform on strong cash flow outlook
• Positive Sentiment: Chevron signed a 20-year deal with Microsoft to supply electricity for an AI-focused Texas data center, and it is reviewing additional U.S. data-center power projects, highlighting a new growth avenue beyond traditional oil and gas. Chevron (CVX) Just Signed A 20 Year Microsoft AI Data Center Power Deal
• Positive Sentiment: Investors are also being reminded of Chevron’s dividend appeal and long record of shareholder payouts, which may help cushion sentiment during energy-sector volatility. Chevron Yields 4.2% Because Oil Prices Make Everyone Nervous. Here’s Why That Thinking Is Outdated
• Neutral Sentiment: Chevron announced its 2Q 2026 earnings conference call and webcast for July 31, which is routine but keeps investors focused on upcoming results. Advisory: Chevron Corporation's 2Q 2026 Earnings Conference Call and Webcast
• Neutral Sentiment: Several commentary pieces continue to frame Chevron as a high-yield, value-oriented energy stock, but these are mostly reiterations rather than new company-specific catalysts. Should You Buy Chevron While It's Below $180 or Wait for a Bigger Dip?
• Negative Sentiment: Oil prices have fallen to a four-month low, which is a headwind for Chevron’s upstream earnings and helps explain why the stock has been trading lower despite positive long-term announcements. Oil's 4-month low hands Exxon, Chevron a fresh problem
• Negative Sentiment: Morgan Stanley reportedly lowered its price target on Chevron, adding to concern that near-term energy prices may not support earlier valuation expectations. Chevron (CVX) Price Target Lowered at Morgan Stanley. Here is Why

Chevron Trading Up 2.0%

CVX opened at $169.06 on Friday. The firm has a market cap of $336.71 billion, a P/E ratio of 29.30, a P/E/G ratio of 0.55 and a beta of 0.50. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average of $183.65 and a 200 day moving average of $180.48. Chevron Corporation has a 12 month low of $145.58 and a 12 month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business's revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.18 earnings per share. As a group, research analysts forecast that Chevron Corporation will post 15.52 EPS for the current year.

Chevron Announces Dividend

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. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Tuesday, May 19th. Chevron's dividend payout ratio (DPR) is currently 123.40%.

Analysts Set New Price Targets

CVX has been the topic of several analyst reports. Scotiabank boosted their target price on Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Weiss Ratings lowered shares of Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 2nd. Sanford C. Bernstein dropped their price objective on shares of Chevron from $216.00 to $204.00 and set a "market perform" rating on the stock in a report on Monday, May 11th. Mizuho upped their price target on Chevron from $225.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. Finally, Wolfe Research upgraded shares of Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 target price on the stock in a research note on Thursday. Nineteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $205.71.

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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