Carnegie Investment Counsel Buys 19,121 Shares of Chevron Corporation $CVX

Key Points

• Carnegie Investment Counsel increased its stake in Chevron (CVX) by 13.5%, purchasing 19,121 shares to hold 161,130 shares worth about $24.56 million.
• Chevron reported quarterly EPS of $1.52, beating estimates by $0.08, while revenue of $45.79 billion missed expectations and declined roughly 10.2% year‑over‑year.
• Chevron raised its quarterly dividend to $1.78 (annualized $7.12, ~3.8% yield), though the payout ratio is high (~106.9%), and insiders sold about 782,607 shares (~$146.5 million) in the past three months.

Carnegie Investment Counsel grew its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 13.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 161,130 shares of the oil and gas company's stock after purchasing an additional 19,121 shares during the period. Carnegie Investment Counsel's holdings in Chevron were worth $24,558,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CVX. Vanguard Group Inc. boosted its stake in shares of 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 valued at $28,540,753,000 after purchasing an additional 27,961,463 shares in the last quarter. State Street Corp boosted its stake in shares of Chevron by 9.1% during 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 bought a new stake in shares of Chevron during the 3rd quarter valued at about $988,083,000. Bank of New York Mellon Corp boosted its stake in shares of Chevron by 27.9% during 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 stake in shares of Chevron by 41.8% during 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.

Chevron Trading Down 0.9%

NYSE:CVX opened at $188.57 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. The firm has a market capitalization of $375.68 billion, a P/E ratio of 28.31, a PEG ratio of 1.41 and a beta of 0.60. Chevron Corporation has a one year low of $132.04 and a one year high of $214.71. The company's 50-day simple moving average is $191.51 and its 200 day simple moving average is $167.98.

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 analysts' expectations of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The business's revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.06 earnings per share. As a group, analysts forecast that Chevron Corporation will post 10.79 EPS 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 issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.8%. This is a boost from Chevron's previous quarterly dividend of $1.71. The ex-dividend date of this dividend was Tuesday, February 17th. Chevron's dividend payout ratio is presently 106.91%.

Analysts Set New Price Targets

Several equities research analysts recently commented on CVX shares. Melius Research raised shares of Chevron from a "hold" rating to a "buy" rating and set a $205.00 price objective on the stock in a research note on Tuesday, February 17th. Scotiabank raised shares of Chevron to a "hold" rating in a research note on Friday, March 27th. HSBC raised shares of Chevron from a "hold" rating to a "buy" rating and set a $215.00 price objective on the stock in a research note on Friday, March 20th. Morgan Stanley boosted their price objective on shares of Chevron from $174.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, March 27th. Finally, Mizuho boosted their price objective on shares of Chevron from $206.00 to $217.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Chevron has a consensus rating of "Moderate Buy" and a consensus target price of $190.04.

Insiders Place Their Bets

In other Chevron news, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value 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 approximately $2,130,449.04. The trade was a 92.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew Benjamin Walz sold 22,200 shares of Chevron stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $176.53, for a total transaction of $3,918,966.00. Following the completion of the transaction, the insider directly owned 666 shares of the company's stock, valued at $117,568.98. This trade represents a 97.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 782,607 shares of company stock valued at $146,510,571. 0.21% of the stock is owned by company insiders.

Key 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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