Chevron Corporation $CVX Shares Bought by Cannell & Spears LLC

Key Points

• Cannell & Spears LLC boosted its position in Chevron (NYSE: CVX) by 13.7% in Q3, adding 24,261 shares to hold 201,996 shares valued at about $31.37 million.
• Chevron increased its quarterly dividend to $1.78 (annualized $7.12) for a ~3.6% yield, though the dividend payout ratio is elevated at roughly 106.9%.
• Company insiders sold sizable stakes this quarter — including CEO Michael Wirth and CFO Eimear Bonner — with total insider dispositions of about 1,099,397 shares worth roughly $196.2 million.

Cannell & Spears LLC grew its position in Chevron Corporation (NYSE:CVX - Free Report) by 13.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 201,996 shares of the oil and gas company's stock after acquiring an additional 24,261 shares during the period. Cannell & Spears LLC's holdings in Chevron were worth $31,368,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Decker Retirement Planning Inc. purchased a new position in shares of Chevron during the 3rd quarter worth approximately $34,000. Vermillion & White Wealth Management Group LLC grew its stake in shares of Chevron by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company's stock worth $37,000 after purchasing an additional 118 shares during the period. Marquette Asset Management LLC acquired a new position in shares of Chevron during the 3rd quarter worth $41,000. Barnes Dennig Private Wealth Management LLC lifted its stake in shares of Chevron by 306.1% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company's stock valued at $42,000 after purchasing an additional 202 shares during the period. Finally, Traub Capital Management LLC acquired a new stake in shares of Chevron in the second quarter valued at about $46,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. TD Cowen raised their price objective on shares of Chevron from $160.00 to $168.00 and gave the company a "hold" rating in a research note on Monday, February 2nd. Wall Street Zen raised Chevron from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. Melius Research raised Chevron from a "hold" rating to a "buy" rating and set a $205.00 price objective for the company in a report on Tuesday, February 17th. Scotiabank reiterated a "sector perform" rating and set a $168.00 target price on shares of Chevron in a research report on Friday, January 16th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Chevron in a report on Wednesday, January 21st. Thirteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Chevron currently has an average rating of "Hold" and a consensus target price of $182.05.

Chevron Price Performance

CVX stock opened at $196.95 on Friday. The stock has a market capitalization of $393.00 billion, a price-to-earnings ratio of 29.57, a price-to-earnings-growth ratio of 1.98 and a beta of 0.67. 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 52-week low of $132.04 and a 52-week high of $198.88. The stock's fifty day simple moving average is $177.33 and its 200-day simple moving average is $162.05.

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

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were paid a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Chevron's previous quarterly dividend of $1.71. Chevron's dividend payout ratio is currently 106.91%.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Geopolitical-driven oil rally is lifting energy names like Chevron as investors position for tighter supply; this is a primary driver behind recent upside in CVX. Wall Street Roundup: War, Oil, Airlines, Energy, AI, Private Credit
• Positive Sentiment: Piper Sandler raised its price target to $242 and moved to an "overweight" rating, signaling notable analyst upside that can support further buying interest. Piper Sandler price target raise
• Positive Sentiment: Chevron expanded its U.S. deepwater exposure via recent Gulf of Mexico lease activity, reinforcing confidence in long-term upstream growth and reserves development. Chevron Expands Gulf of Mexico Presence With Latest Lease Sale
• Positive Sentiment: Unusual options flow showed heavy call buying (111,021 calls), indicating speculative/bullish positioning that can amplify near-term upside.
• Neutral Sentiment: Chevron agreed to sell its stakes in Angola Blocks 14/14K to Energean for about $260M — a small portfolio divestment that trims international exposure but provides cash for reallocation; impact is strategic rather than material to earnings. Energean to acquire Chevron’s stakes in offshore Angola blocks
• Neutral Sentiment: Worley won a FEED contract for Chevron’s Aphrodite gas field (Cyprus), confirming project progress; it's a positive operational step but the contract award mainly benefits the supplier and signals Chevron advancing development plans. Worley secures contract from Chevron for Aphrodite gas field FEED
• Neutral Sentiment: Analyst and media coverage is debating valuation as CVX approaches $200 after a ~30% run in 2026; some see upside if oil holds, others warn the rally could be stretched. Chevron Near $200 While Oil Tops $100: Does CVX Merit a Buy?
• Negative Sentiment: Chevron faces a DOJ settlement: a $1M penalty and retirement of $3.6M in invalid renewable fuel credits — reputational and compliance negative, though the financial hit is modest. Chevron Hit With $1 Million Penalty Over Invalid Clean Fuel Credits
• Negative Sentiment: MarketBeat and technical indicators note momentum warnings (MACD/RSI weakening) and the IEA's coordinated reserve releases could cap oil — if oil eases, Chevron's rally could reverse quickly. Chevron Hits New Highs Due to Oil's Rally, But Is It Sustainable?

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 320,700 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the transaction, the chief executive officer directly owned 14,450 shares in the company, valued at $2,355,205.50. This represents a 95.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Eimear P. Bonner sold 32,100 shares of the firm's stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the completion of the sale, the chief financial officer directly owned 4,366 shares in the company, valued at $764,093.66. This represents a 88.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,099,397 shares of company stock worth $196,196,468. 0.21% of the stock is owned by insiders.

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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