Chevron Corporation $CVX Shares Purchased by OLD National Bancorp IN

Key Points

• OLD National Bancorp IN increased its Chevron stake by 22.8% in the first quarter, adding 15,382 shares and bringing its total holding to 82,798 shares worth about $17.1 million.
• Several Chevron insiders were active sellers recently, including director John B. Hess and insider R. Hewitt Pate; altogether, insiders sold 615,200 shares in the last quarter, while insider ownership stands at just 0.56%.
• Analyst sentiment remains mostly constructive, with Chevron carrying an overall “Moderate Buy” rating and a consensus price target of $205.70, though a few firms have trimmed ratings or issued more cautious views.

OLD National Bancorp IN boosted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 22.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,798 shares of the oil and gas company's stock after acquiring an additional 15,382 shares during the period. OLD National Bancorp IN's holdings in Chevron were worth $17,131,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Chevron

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider owned 8,638 shares in the company, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 380,000 shares of the firm's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares of the company's stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 615,200 shares of company stock valued at $118,022,760 in the last quarter. 0.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Mizuho raised their price objective on shares of Chevron from $225.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. Zacks Research lowered Chevron from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Wells Fargo & Company upped their price objective on Chevron from $204.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. UBS Group reiterated a "buy" rating on shares of Chevron in a research note on Tuesday. Finally, Weiss Ratings cut Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 2nd. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Chevron presently has an average rating of "Moderate Buy" and a consensus price target of $205.70.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron expanded its upstream footprint by agreeing to take a majority stake and operatorship in Greece’s Southern Ionian Sea Block 10, a move that could add long-term exploration upside and strengthen its Eastern Mediterranean presence. Chevron (CVX) Expands Into Greece Block 10 While Venezuela Operations Stay Running
• Positive Sentiment: The company also announced a 20-year deal to supply natural gas to a Microsoft data center in West Texas, signaling a new avenue for stable, long-duration demand and potential growth from energy infrastructure tied to AI. Chevron, Microsoft deal fuels West Texas data center expansion
• Positive Sentiment: Chevron confirmed that its Venezuela operations remain safe and fully operational after the earthquakes, reducing near-term disruption risk while the company supports relief efforts. Chevron Confirms Safe Venezuela Operations After Major Earthquakes
• Neutral Sentiment: Chevron committed $1 million to earthquake relief in Venezuela, a humanitarian move that is unlikely to materially affect earnings but may support its reputation. Chevron Commits $1 Million to Support Earthquake Relief in Venezuela
• Neutral Sentiment: Reuters reported Chevron is exploring additional deals to power U.S. data centers, which suggests optionality and diversification, but no immediate financial impact was disclosed. Chevron eyes more deals to power US data centers
• Negative Sentiment: Investor caution rose after reports that the Trump administration ordered a DOJ probe into gasoline pricing at Chevron and other major oil companies, creating headline risk and possible regulatory overhang. Trump Orders DOJ Investigation Into Exxon (XOM) and Chevron (CVX) Over Gas Pump Pricing
• Negative Sentiment: Chevron’s CFO said gasoline prices should decline, but only with a lag, reinforcing concerns that near-term pricing and margins may remain uncertain if crude prices keep falling. Chevron CFO says gas prices will normalize after Trump presses Big Oil

Chevron Price Performance

Shares of NYSE:CVX opened at $170.67 on Friday. Chevron Corporation has a 52 week low of $142.40 and a 52 week high of $214.71. The company has a 50-day moving average price of $185.10 and a 200 day moving average price of $179.78. The company has a market cap of $339.91 billion, a P/E ratio of 29.58, a PEG ratio of 0.56 and a beta of 0.48. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

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 (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to analysts' expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.18 EPS. Research analysts predict that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron's dividend payout ratio is currently 123.40%.

About Chevron

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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