Chevron Corporation $CVX Stake Trimmed by Adams Natural Resources Fund Inc.

Key Points

• Adams Natural Resources Fund trimmed its Chevron stake by 1.4% in the fourth quarter, selling 9,000 shares but still holding 623,724 shares valued at about $95.1 million. Chevron remains its second-largest holding and makes up roughly 14.4% of the portfolio.
• Recent company news is mostly constructive: Chevron is backing a $3 billion Argentina NGL project and its CEO said the company is still seeking new opportunities in the Middle East, pointing to ongoing growth options outside its core assets.
• Chevron posted a stronger-than-expected quarter with EPS of $1.41 versus the $1.00 consensus, while analysts remain broadly positive with a Moderate Buy rating and an average price target of $205.70. The stock also pays a quarterly dividend of $1.78, equal to a 3.8% yield.

Adams Natural Resources Fund Inc. lowered its position in Chevron Corporation (NYSE:CVX - Free Report) by 1.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 623,724 shares of the oil and gas company's stock after selling 9,000 shares during the period. Chevron accounts for approximately 14.4% of Adams Natural Resources Fund Inc.'s portfolio, making the stock its 2nd biggest holding. Adams Natural Resources Fund Inc.'s holdings in Chevron were worth $95,062,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Core Wealth Advisors LLC purchased a new position in Chevron during the 4th quarter valued at about $26,000. Karpus Management Inc. purchased a new position in shares of Chevron in the 4th quarter valued at about $27,000. Quattro Advisors LLC purchased a new position in shares of Chevron in the 4th quarter valued at about $27,000. Strategic Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter valued at about $33,000. Finally, Daytona Street Capital LLC purchased a new position in shares of Chevron in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reportedly joined YPF and Pluspetrol in backing TGS’s $3 billion Argentina NGL project, improving the odds of a final investment decision and signaling another potential growth avenue for Chevron outside its core assets. Chevron and Partners to Support TGS-Led Argentina NGL Project
• Positive Sentiment: CEO Mike Wirth said Chevron is still looking at new opportunities in the Middle East and could expand its regional exposure, reinforcing the company’s growth optionality in a strategic energy market. Chevron continues to look at new opportunities in Middle East, CEO says
• Positive Sentiment: Analyst commentary remained constructive, with Erste Group raising FY2026 and FY2027 earnings estimates for Chevron, suggesting expectations for solid profitability remain intact.
• Positive Sentiment: Multiple articles highlighted Chevron as a high-yield, value-oriented energy name, which may be supporting demand from income and valuation-focused investors.
• Neutral Sentiment: Chevron’s CEO pushed back on claims about Persian Gulf oil flow volumes, while U.S. crude inventories continue to decline; this adds uncertainty but does not clearly change Chevron’s fundamental outlook. U.S. energy secretary says 7 million barrels of oil exiting Persian Gulf daily, but Chevron CEO rebuts the claim
• Neutral Sentiment: Separate commentary on Chevron’s valuation and broader energy-sector strength points to ongoing momentum, but these pieces are more supportive of the stock’s longer-term case than a direct near-term catalyst. Assessing Chevron (CVX) Valuation After Recent Gains And Mixed Undervaluation Signals
• Negative Sentiment: Oil prices fell to their lowest level since early March as markets priced in potentially higher Strait of Hormuz flows and progress toward an interim peace deal, which can pressure Chevron’s upstream earnings expectations. Oil Hits Lowest Since Early March on Potential Hormuz Reopening

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CVX shares. Weiss Ratings cut Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 2nd. TD Cowen boosted their target price on Chevron from $204.00 to $205.00 and gave the stock a "hold" rating in a research note on Friday, May 8th. Melius Research upgraded Chevron from a "hold" rating to a "buy" rating and set a $205.00 target price for the company in a research note on Tuesday, February 17th. Morgan Stanley boosted their target price on Chevron from $212.00 to $214.00 and gave the stock an "overweight" rating in a research note on Friday, May 22nd. Finally, Citigroup boosted their target price on Chevron from $210.00 to $235.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $205.70.

Chevron Trading Up 0.6%

CVX opened at $186.96 on Friday. The firm has a market cap of $372.34 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 0.61 and a beta of 0.48. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The business's 50 day moving average is $188.75 and its two-hundred day moving average is $178.06. Chevron Corporation has a 52 week low of $142.40 and a 52 week high of $214.71.

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

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. Chevron's payout ratio is presently 123.40%.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider owned 8,638 shares of the company's stock, valued at $1,842,485.40. The trade was a 82.31% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 615,200 shares of company stock worth $118,022,760. Corporate insiders own 0.56% of the company's stock.

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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