Chevron Corporation $CVX Shares Sold by Swiss Life Asset Management Ltd

Key Points

• Swiss Life Asset Management reduced its Chevron stake by 8% in the fourth quarter, though it still held about 649,132 shares valued at roughly $98.9 million.
• Chevron’s first-quarter earnings beat expectations with adjusted EPS of $1.41 versus the $1.00 consensus, but revenue came in below estimates, which may be weighing on sentiment.
• Analysts remain broadly positive on the stock, with a consensus rating of Moderate Buy and a target price around $202.74; Chevron also announced a quarterly dividend of $1.78 per share.

Swiss Life Asset Management Ltd cut its stake in Chevron Corporation (NYSE:CVX - Free Report) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 649,132 shares of the oil and gas company's stock after selling 56,398 shares during the period. Swiss Life Asset Management Ltd's holdings in Chevron were worth $98,934,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CVX. United Bank boosted its position in shares of Chevron by 7.7% in the second quarter. United Bank now owns 11,079 shares of the oil and gas company's stock worth $1,586,000 after acquiring an additional 796 shares during the last quarter. Schnieders Capital Management LLC. boosted its position in shares of Chevron by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company's stock worth $7,280,000 after acquiring an additional 4,214 shares during the last quarter. BNP Paribas boosted its position in shares of Chevron by 76.4% in the second quarter. BNP Paribas now owns 441 shares of the oil and gas company's stock worth $63,000 after acquiring an additional 191 shares during the last quarter. Osterweis Capital Management Inc. boosted its position in shares of Chevron by 678.9% in the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company's stock worth $195,000 after acquiring an additional 1,188 shares during the last quarter. Finally, Main Street Financial Solutions LLC boosted its position in shares of Chevron by 3.6% in the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company's stock worth $2,299,000 after acquiring an additional 553 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Melius Research raised shares of Chevron from a "hold" rating to a "buy" rating and set a $205.00 target price on the stock in a research report on Tuesday, February 17th. Scotiabank raised their price target on shares of Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Zacks Research upgraded shares of Chevron from a "hold" rating to a "strong-buy" rating in a report on Friday, April 3rd. Barclays raised their price target on shares of Chevron from $180.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 4th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $216.00 price target on shares of Chevron in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chevron presently has a consensus rating of "Moderate Buy" and a consensus target price of $202.74.

Key Stories Impacting 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 at Chevron

In other news, 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 trade represents a 89.71% 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, insider Andrew Benjamin Walz sold 11,600 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $188.58, for a total transaction of $2,187,528.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 816,439 shares of company stock valued at $154,339,900. 0.56% of the stock is currently owned by corporate insiders.

Chevron Trading Down 0.1%

NYSE CVX opened at $181.37 on Monday. 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 $193.21 and its 200 day moving average price is $172.09. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The firm has a market capitalization of $361.22 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 0.63 and a beta of 0.51.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.18 earnings per share. On average, sell-side analysts predict that Chevron Corporation will post 15.02 EPS for the current year.

Chevron Dividend Announcement

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

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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