Chevron Corporation $CVX Shares Sold by Calamos Advisors LLC

Key Points

• Insider selling: CEO Michael K. Wirth sold 272,624 shares (~$51.6M) and R. Hewitt Pate sold 58,000 shares, with insiders offloading a total of 779,407 shares worth about $146M in the past three months, sharply reducing insider ownership.
• Dividend raised but payout high: Chevron increased its quarterly dividend to $1.78 ($7.12 annualized, 3.8% yield), while the payout ratio stands at an elevated 106.91%.
• Analyst optimism and operational updates: Multiple firms lifted price targets (e.g., Piper Sandler to $242, Morgan Stanley to $212) giving a consensus target around $198 ("Moderate Buy"), and company catalysts include Wheatstone LNG resuming production and a Venezuelan asset-swap that could boost reserves but faces a partner dispute.

Calamos Advisors LLC trimmed its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 614,108 shares of the oil and gas company's stock after selling 21,344 shares during the period. Calamos Advisors LLC's holdings in Chevron were worth $93,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Decker Retirement Planning Inc. acquired a new stake in shares of Chevron during the 3rd quarter worth about $34,000. Marquette Asset Management LLC acquired a new stake in shares of Chevron during the 3rd quarter worth about $41,000. Barnes Dennig Private Wealth Management LLC boosted its stake in shares of Chevron by 306.1% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company's stock worth $42,000 after purchasing an additional 202 shares during the last quarter. Daytona Street Capital LLC acquired a new stake in shares of Chevron during the 4th quarter worth about $44,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in shares of Chevron during the 3rd quarter worth about $49,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other news, insider R. Hewitt Pate sold 58,000 shares of Chevron stock in a transaction that occurred on 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 sale, the insider owned 8,558 shares in the company, valued at $1,614,466.70. This trade represents a 87.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael K. Wirth sold 272,624 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the sale, the chief executive officer owned 31,266 shares in the company, valued at $5,920,217.10. This represents a 89.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 779,407 shares of company stock valued at $145,972,971 in the last three months. 0.56% of the stock is owned by company insiders.

Chevron Trading Down 1.3%

NYSE CVX opened at $185.13 on Friday. Chevron Corporation has a one year low of $133.77 and a one year high of $214.71. The company's 50 day moving average price is $192.56 and its 200 day moving average price is $170.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15. The firm has a market capitalization of $368.82 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 0.79 and a beta of 0.60.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly 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 net margin of 6.51% and a return on equity of 7.89%. The firm had revenue of $45.79 billion for the quarter, compared to analyst estimates of $48.18 billion. During the same quarter last year, the firm posted $2.06 earnings per share. Chevron's revenue for the quarter was down 10.2% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Corporation will post 12.49 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were issued a $1.78 dividend. The ex-dividend date was Tuesday, February 17th. This is a positive change from Chevron's previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a yield of 3.8%. Chevron's payout ratio is 106.91%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Piper Sandler raised their price target on shares of Chevron from $179.00 to $242.00 and gave the stock an "overweight" rating in a research note on Thursday, March 12th. Morgan Stanley raised their price target 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. Argus set a $203.00 price target on shares of Chevron in a research note on Tuesday, February 3rd. UBS Group reaffirmed a "buy" rating and set a $212.00 price target on shares of Chevron in a research note on Monday, February 2nd. Finally, Zacks Research raised shares of Chevron from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 3rd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $198.09.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wheatstone LNG has fully resumed production after cyclone repairs, restoring expected cash flow from the Australian LNG asset and removing a short-term production drag. Chevron resumes full production at Wheatstone LNG after repairs for cyclone damage
• Positive Sentiment: Chevron says it reached an asset-swap agreement that expands its stake in Venezuelan heavy oil operations — a move that could lift reserves and long-term production potential if implemented. Chevron Corporation (CVX) Expands Stakes in Venezuela Oil Operations
• Positive Sentiment: Warren Buffett’s ongoing stake and commentary on Chevron continue to be cited as a vote of confidence for long-term investors, supporting sentiment versus peers. Deepening Growth Pipeline Sustains Warren Buffett’s Confidence In Chevron (CVX)
• Positive Sentiment: Zacks has highlighted Chevron as a Bull of the Day and it's included in lists of high-flying "old economy" stocks with room to run — analyst attention can help prop up demand in a pullback. Chevron and Avis Budget have been highlighted as Zacks Bull and Bear of the Day
• Neutral Sentiment: Chevron is a trending stock with increased retail and analyst attention; that raises liquidity and volatility but is ambivalent for direction without fresh catalysts. Chevron Corporation (CVX) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Venezuelan partner Suelopetrol says it was not informed of Chevron’s reported expansion — a public dispute that raises execution, legal and geopolitical risk around the asset-swap and could delay realization of the announced upside. Suelopetrol says it has not been Informed of Chevron’s (CVX) Expansion at Venezuela Joint Venture
• Negative Sentiment: Zacks preview flags an expected decline in Q1 earnings, which raises the risk of a disappointing release and near-term downside if results or guidance miss. Earnings Preview: Chevron (CVX) Q1 Earnings Expected to Decline
• Negative Sentiment: After a strong YTD rally, articles note a month-long cooldown and profit-taking in big oil names; that broader flow explains part of today’s pullback even without company-specific bad news. Exxon Stock and Chevron Stock Are Up 20%+ YTD – Why the Long Oil Trade Is Stalling Out

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.

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.