Chevron Corporation $CVX Shares Sold by Adams Natural Resources Fund Inc.

Key Points

• Adams Natural Resources Fund trimmed its Chevron stake by 1.4% in the first quarter, selling 9,000 shares and leaving it with 614,724 shares valued at about $127.2 million.
• Institutional ownership remains high and several large investors increased their positions, including Norges Bank, State Street, and Berkshire Hathaway; overall, institutions and hedge funds own 72.42% of Chevron stock.
• Chevron has seen a mix of positive business developments and headline risk, including a 20-year natural gas supply deal with Microsoft and expanded exploration in Greece, but also a reported DOJ probe into gasoline pricing and uncertainty around near-term fuel margins.

Adams Natural Resources Fund Inc. cut its stake in Chevron Corporation (NYSE:CVX - Free Report) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 614,724 shares of the oil and gas company's stock after selling 9,000 shares during the period. Chevron comprises about 14.7% of Adams Natural Resources Fund Inc.'s holdings, making the stock its 2nd largest holding. Adams Natural Resources Fund Inc.'s holdings in Chevron were worth $127,186,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVX. Norges Bank acquired a new position in shares of Chevron during the fourth quarter worth about $3,727,586,000. State Street Corp raised its holdings in Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock worth $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc raised its holdings in Chevron by 6.6% during the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock worth $19,837,131,000 after purchasing an additional 8,091,570 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Chevron by 822.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company's stock worth $946,658,000 after buying an additional 5,537,580 shares during the last quarter. Finally, Amundi lifted its position 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 worth $1,811,333,000 after buying an additional 3,464,058 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on CVX. HSBC raised shares of Chevron from a "hold" rating to a "buy" rating and set a $215.00 target price on the stock in a research report on Friday, March 20th. Bank of America raised their price objective on Chevron from $188.00 to $206.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Piper Sandler lifted their target price on Chevron from $179.00 to $242.00 and gave the stock an "overweight" rating in a research report on Thursday, March 12th. Barclays upped their target price on Chevron from $192.00 to $213.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 26th. Finally, Scotiabank raised their price target on Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $205.70.

Insider Buying and Selling

In other news, 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 owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.56% of the company's stock.

Trending Headlines about 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 Stock Down 0.2%

Chevron stock opened at $170.67 on Monday. The stock has a 50 day moving average of $185.10 and a two-hundred day moving average of $180.00. Chevron Corporation has a twelve month low of $142.40 and a twelve month high of $214.71. The stock has a market capitalization of $339.91 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 0.56 and a beta of 0.48. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion during the quarter, compared to analysts' expectations of $51.86 billion. During the same quarter in the prior year, the business earned $2.18 earnings per share. The company's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Dividend Announcement

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

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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