Chevron Corporation $CVX Shares Purchased by Legal & General Group Plc

Key Points

• Legal & General Group Plc boosted its Chevron stake by 20% in Q3 to 10,892,936 shares (about 0.54% ownership), valued at roughly $1.69 billion per its latest 13F filing.
• Insiders have been net sellers — notably R. Hewitt Pate sold 58,000 shares for about $10.94 million — with insiders offloading 1,052,197 shares (~$187.13 million) over the past three months and now owning just 0.20% of the company.
• Chevron raised its quarterly dividend to $1.78 (annualized $7.12), yielding about 3.8%, while the payout ratio is an elevated ~106.9%.

Legal & General Group Plc boosted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 20.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,892,936 shares of the oil and gas company's stock after acquiring an additional 1,818,012 shares during the quarter. Legal & General Group Plc owned about 0.54% of Chevron worth $1,691,564,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CVX. Decker Retirement Planning Inc. purchased a new position in shares of Chevron in the 3rd quarter valued at about $34,000. Vermillion & White Wealth Management Group LLC grew its holdings in shares of Chevron by 86.1% in 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 acquiring an additional 118 shares during the period. Marquette Asset Management LLC acquired a new stake in shares of Chevron in the 3rd quarter worth approximately $41,000. Barnes Dennig Private Wealth Management LLC increased its stake in Chevron by 306.1% in the 3rd 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 in the last quarter. Finally, Traub Capital Management LLC purchased a new position in Chevron in the 2nd quarter valued at approximately $46,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Geopolitical supply shocks have driven crude sharply higher (WTI/Brent > $100), which boosts Chevron's upstream margins and cash flow outlook. Higher oil is a primary tailwind for CVX today. Wall Street Is Pointing to the 1990 Gulf War Playbook
• Positive Sentiment: Bank of America’s bullish $206 price target and related coverage helped lift sentiment and option activity in CVX, supporting near-term upside expectations. Blockonomi: BofA Upgrade
• Positive Sentiment: Chevron is reported to be in talks to buy ~30% of Brazil’s Ipiranga via Ultrapar’s potential stake sale — a move that would expand downstream retail exposure in Latin America and diversify cash flows. Reuters: Ultrapar Taps BTG; Chevron Interest
• Positive Sentiment: Operational growth and portfolio moves (Hess closing/Guyana exposure and exclusive talks for Iraq’s West Qurna 2) are framing a longer-term growth story beyond cyclical oil moves. Yahoo: Hess Deal & West Qurna Talks
• Neutral Sentiment: Market commentary suggests option strategies (shorting OTM puts/calls, covered calls) are being used to monetize elevated premiums around CVX — this raises income opportunities but also signals some investors expect limited near-term directional moves. Barchart: Options Strategy
• Neutral Sentiment: Chevron signed a five-year gas supply deal with Horizon Power, underpinning steady gas revenues in Australia but with limited immediate impact on global oil-driven earnings. Zacks: Horizon Power Deal
• Negative Sentiment: Chevron plans to suspend production at the Leviathan gas field offshore Israel, reducing near-term gas output and revenues from that asset and adding operational disruption risk. InsiderMonkey: Leviathan Suspension
• Negative Sentiment: Public criticism from Chevron’s refining president of California climate rules highlights regulatory and political headwinds that could pressure West Coast refining margins and operational flexibility. YouTube: Chevron President on California Regs

Insider Activity at Chevron

In other news, insider R. Hewitt Pate sold 58,000 shares of Chevron stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $188.65, for a total transaction of $10,941,700.00. Following the completion of the sale, the insider directly owned 8,558 shares in the company, valued at $1,614,466.70. The trade was a 87.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alana K. Knowles sold 2,408 shares of the business's stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $183.28, for a total transaction of $441,338.24. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,052,197 shares of company stock worth $187,128,404 over the last three months. Company insiders own 0.20% of the company's stock.

Chevron Stock Performance

Chevron stock opened at $189.43 on Tuesday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $192.41. The company has a market capitalization of $377.99 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.91 and a beta of 0.67. The stock has a fifty day moving average of $174.15 and a two-hundred day moving average of $161.09. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.08. The business had revenue of $45.79 billion for the quarter, compared to the consensus estimate of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The business's revenue was down 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.06 earnings per share. On average, analysts anticipate 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 will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be issued a $1.78 dividend. This is a positive change from Chevron's previous quarterly dividend of $1.71. The ex-dividend date is Tuesday, February 17th. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. Chevron's payout ratio is currently 106.91%.

Analyst Ratings Changes

A number of analysts have commented on the company. Barclays boosted their target price on Chevron from $158.00 to $166.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 21st. TD Cowen raised their price target on Chevron from $160.00 to $168.00 and gave the company a "hold" rating in a research report on Monday, February 2nd. Freedom Capital downgraded Chevron from a "hold" rating to a "strong sell" rating in a research note on Tuesday, January 6th. Zacks Research upgraded shares of Chevron from a "strong sell" rating to a "hold" rating in a research report on Tuesday, December 23rd. Finally, Mizuho increased their price objective on shares of Chevron from $204.00 to $206.00 and gave the company an "outperform" rating in a research note on Friday, December 12th. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Chevron presently has an average rating of "Hold" and a consensus target price of $178.95.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.