Chevron Corporation $CVX Shares Sold by Plato Investment Management Ltd

Key Points

• Plato Investment Management reduced its Chevron stake by 25.2% in the fourth quarter, selling 13,845 shares and leaving it with 41,110 shares valued at about $6.3 million.
• Chevron reported Q1 earnings of $1.41 per share, topping analyst expectations, but revenue of $47.56 billion came in below forecasts, which may be pressuring the stock.
• The company declared a quarterly dividend of $1.78 per share, implying an annualized yield of 3.9%, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $202.74.

Plato Investment Management Ltd cut its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 25.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,110 shares of the oil and gas company's stock after selling 13,845 shares during the quarter. Plato Investment Management Ltd's holdings in Chevron were worth $6,296,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Dakota Wealth Management lifted its holdings in Chevron by 14.9% in the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock valued at $12,690,000 after acquiring an additional 10,822 shares during the period. Brooklyn FI LLC acquired a new stake in Chevron in the third quarter valued at $431,000. New York State Teachers Retirement System lifted its holdings in Chevron by 15.3% in the third quarter. New York State Teachers Retirement System now owns 1,620,231 shares of the oil and gas company's stock valued at $251,606,000 after acquiring an additional 215,345 shares during the period. Clear Trail Advisors LLC acquired a new stake in Chevron in the fourth quarter valued at $10,167,000. Finally, Finemark National Bank & Trust lifted its holdings in Chevron by 40.3% in the third quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company's stock valued at $8,779,000 after acquiring an additional 16,243 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Down 0.6%

Shares of CVX stock opened at $181.37 on Friday. Chevron Corporation has a fifty-two week low of $133.77 and a fifty-two week high of $214.71. The stock has a market cap of $361.35 billion, a P/E ratio of 31.43, a P/E/G ratio of 0.63 and a beta of 0.51. The business has a fifty day simple moving average of $193.21 and a 200-day simple moving average of $172.09. 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 (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 7.01% 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 last year, the business posted $2.18 earnings per share. The business's revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts forecast that Chevron Corporation will post 15.02 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Tuesday, May 19th. Chevron's dividend payout ratio (DPR) is currently 123.40%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CVX shares. BNP Paribas Exane raised Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 target price for the company in a report on Friday, April 17th. Mizuho raised their price target on Chevron from $206.00 to $217.00 and gave the company an "outperform" rating in a research report on Tuesday, March 17th. Wall Street Zen upgraded Chevron from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. Melius Research upgraded Chevron from a "hold" rating to a "buy" rating and set a $205.00 price target for the company in a research report on Tuesday, February 17th. Finally, UBS Group raised their price target on Chevron from $218.00 to $220.00 and gave the company a "buy" rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chevron currently has a consensus rating of "Moderate Buy" and an average price target of $202.74.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s first-quarter results beat profit expectations, with adjusted EPS of $1.41 versus the $0.97 consensus, reinforcing the company’s ability to generate earnings even amid volatile energy markets. Chevron (CVX) Reports Q1 Earnings: What Key Metrics Have to Say
• Positive Sentiment: Goldman Sachs raised its price target on Chevron and kept a Buy rating, citing improved confidence in cash flow, production, and shareholder return plans after the earnings report. Goldman Sachs gives Chevron stock price new target after earnings
• Positive Sentiment: Multiple research notes and articles highlighted Chevron as a dividend aristocrat and a long-term value play, which can support investor interest in the stock. 3 ‘Strong Buy’ Dividend Aristocrat Stocks, 5/8/26
• Positive Sentiment: TD Cowen nudged its price target higher to $205 while maintaining a Hold rating, and Erste Group also lifted its FY2027 earnings estimate, signaling still-constructive expectations for Chevron’s earnings outlook. Chevron estimate and target updates
• Neutral Sentiment: Analysts and commentary also pointed to Chevron’s LNG strategy and South Asian export growth as a longer-term earnings driver, but this is more of a strategic backdrop than an immediate catalyst. Can Chevron's South Asian LNG Strategy Drive Long-Term Growth?
• Negative Sentiment: Despite the earnings beat, Chevron’s revenue came in below Wall Street estimates, which may be tempering enthusiasm and contributing to the stock’s weakness. Chevron (CVX) Reports Q1 Earnings: What Key Metrics Have to Say

Insider Activity

In related news, insider Andrew Benjamin Walz sold 11,600 shares of Chevron stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $188.58, for a total transaction of $2,187,528.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the transaction, the insider directly owned 11,337 shares in the company, valued at $2,130,449.04. The trade was a 92.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 816,439 shares of company stock worth $154,339,900 in the last quarter. Corporate insiders own 0.56% of the company's stock.

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.

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