Chevron Corporation $CVX Stake Raised by Independent Wealth Network Inc.

Key Points

• Independent Wealth Network increased its Chevron stake by 16% in the third quarter, bringing its holdings to 32,696 shares valued at approximately $6.7 million. Institutional investors collectively own 72.42% of Chevron.
• Analysts maintain a generally favorable view, with Chevron receiving a consensus “Moderate Buy” rating and an average price target of $213.42, while the stock recently traded near its 52-week high.
• Chevron reported stronger-than-expected quarterly results, including $6.06 in adjusted EPS and $67.2 billion in revenue, and pays a quarterly dividend of $1.78 per share, representing a 3.2% annualized yield. However, insiders sold significant shares during the past three months.

Independent Wealth Network Inc. raised its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 16.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,696 shares of the oil and gas company's stock after buying an additional 4,503 shares during the quarter. Chevron comprises 1.7% of Independent Wealth Network Inc.'s investment portfolio, making the stock its 7th largest position. Independent Wealth Network Inc.'s holdings in Chevron were worth $6,677,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Chevron by 3.9% during the second quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company's stock valued at $28,016,651,000 after acquiring an additional 5,998,852 shares in the last quarter. BlackRock Inc. purchased a new stake in Chevron in the second quarter worth $25,663,729,000. Bank of America Corp DE boosted its holdings in Chevron by 5.1% in the first quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company's stock valued at $5,716,694,000 after acquiring an additional 1,334,976 shares in the last quarter. Amundi boosted its holdings in Chevron by 3.0% in the first quarter. Amundi now owns 12,185,436 shares of the oil and gas company's stock valued at $2,521,166,000 after acquiring an additional 349,416 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Chevron in the second quarter valued at $2,378,114,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Analysts are raising Chevron’s earnings estimates, suggesting stronger expected profitability and potentially supporting continued share-price momentum. Earnings Estimates Moving Higher for Chevron
• Positive Sentiment: Crude prices have reportedly surged more than 77% in 2026 amid Middle East tensions, creating a favorable revenue and cash-flow backdrop for Chevron and other large oil producers. Buy Giant Oil Explorers
• Positive Sentiment: Chevron is benefiting from Permian Basin drilling efficiencies, lower development costs and disciplined capital spending, which could strengthen production economics. Permian Oil Stocks
• Positive Sentiment: Recent coverage highlights potential upside from deals involving Venezuela and Greece, as well as Chevron’s available refining capacity. Chevron Record High
• Positive Sentiment: Chevron reportedly ranked among the stocks in former President Donald Trump’s portfolio, while Citadel increased its Chevron position by 146% in the second quarter—signals of notable institutional and high-profile investor interest. Trump and Famous Billionaires Were Buying This Oil Stock
• Neutral Sentiment: Chevron will report third-quarter results on October 30. Investors may remain cautious ahead of the report, particularly after the company’s shares recently reached a record level. Chevron vs. ExxonMobil
• Neutral Sentiment: Analyst commentary characterizes Chevron as a value-oriented, broker-favored dividend stock and compares it favorably with ExxonMobil on growth, while noting Exxon’s greater scale and diversification. Chevron Broker Ratings

Analysts Set New Price Targets

CVX has been the topic of a number of research analyst reports. TD Cowen boosted their price objective on shares of Chevron from $215.00 to $225.00 and gave the company a "hold" rating in a research report on Monday, October 12th. Zacks Research upgraded shares of Chevron from a "hold" rating to a "strong-buy" rating in a report on Monday, October 5th. Weiss Ratings raised shares of Chevron from a "buy (b)" rating to a "buy (b+)" rating in a research report on Friday. Raymond James Financial dropped their target price on shares of Chevron from $230.00 to $225.00 and set an "outperform" rating for the company in a research report on Tuesday, July 21st. Finally, Barclays cut their target price on shares of Chevron from $216.00 to $208.00 and set an "equal weight" rating on the stock in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Chevron has a consensus rating of "Moderate Buy" and a consensus price target of $213.42.

Chevron Stock Down 0.2%

CVX stock opened at $224.53 on Tuesday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $225.67. The business's 50 day moving average price is $208.18 and its two-hundred day moving average price is $193.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The company has a market capitalization of $443.62 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 0.61 and a beta of 0.53.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%. The business's revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.77 EPS. As a group, analysts forecast that Chevron Corporation will post 17.71 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a dividend of $1.78 per share. The ex-dividend date was Wednesday, August 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.2%. Chevron's payout ratio is currently 68.26%.

Insider Transactions at Chevron

In related news, CEO Michael Wirth sold 317,100 shares of the company's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the sale, the chief executive officer directly owned 26,308 shares of the company's stock, valued at $5,273,701.68. This represents a 92.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider R. Pate sold 2,470 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total value of $506,621.70. Following the completion of the transaction, the insider owned 10,794 shares of the company's stock, valued at approximately $2,213,957.34. This trade represents a 18.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,152,582 shares of company stock valued at $225,853,661 in the last three months. Company insiders own 0.56% of the company's stock.

About Chevron

Chevron Corporation NYSE: CVX is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.

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