Chevron Corporation $CVX Stock Bought by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its Chevron stake by 8.6% in the third quarter, bringing its holdings to 99,236 shares valued at approximately $20.5 million. Institutional investors collectively own 72.42% of Chevron.
• Analyst sentiment remains favorable, with several firms raising price targets to as high as $235 and the stock carrying a consensus “Moderate Buy” rating. Chevron also reported quarterly EPS and revenue above expectations and pays an annualized dividend of $7.12, yielding about 3.3%.
• Despite strong momentum and operational growth prospects, risks include elevated valuation and significant insider selling; insiders sold roughly 1.15 million shares worth $225.9 million over the past three months.

First Citizens Bank & Trust Co. boosted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 8.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 99,236 shares of the oil and gas company's stock after acquiring an additional 7,836 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Chevron were worth $20,511,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Chevron by 3.9% in the second quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company's stock worth $28,016,651,000 after purchasing an additional 5,998,852 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Chevron during the second quarter worth about $25,663,729,000. Berkshire Hathaway Inc boosted its position in Chevron by 6.6% in the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock valued at $19,837,131,000 after buying an additional 8,091,570 shares during the last quarter. Bank of America Corp DE boosted its position 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 buying an additional 1,334,976 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Chevron by 1.5% in the fourth quarter. Invesco Ltd. now owns 17,119,575 shares of the oil and gas company's stock valued at $2,609,194,000 after buying an additional 254,323 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: An analyst upgrade helped support Chevron’s recent advance, while TD Cowen raised its price target from $215 to $225 and Erste Group increased its FY2026 and FY2027 EPS forecasts to $16.90 and $13.78, respectively. Chevron Stock Jumps After Analyst Upgrade Chevron Price Target Increase from TD Cowen
• Positive Sentiment: Chevron’s operating outlook is benefiting from the first commercial gas production in Australia’s Beetaloo Basin, progress on the Aphrodite gas project with Egypt, and longer-term production growth tied to the Hess integration and international gas assets. Chevron and Beetaloo Gas Chevron and Egypt Discuss Aphrodite Pipeline
• Positive Sentiment: Offshore operations in the U.S. Gulf are being restored after Hurricane Isaias, with no major facility damage reported. The recovery limits the potential duration of production disruptions. Chevron Gulf Production Recovery
• Positive Sentiment: Recent coverage highlights Chevron’s strong cash flow, expanding production, cost savings, dividend appeal and performance ahead of the broader energy sector. Zacks also included CVX among its top-rated income stocks. CVX Outpaces Industry
• Neutral Sentiment: Chevron is reorganizing senior leadership effective January 2027, moving current CFO Eimear Bonner to lead Oil, Products & Gas and appointing Jeff Gustavson as CFO. The changes could improve integration of lower-carbon businesses, but execution remains to be demonstrated.
• Negative Sentiment: Valuation is becoming a concern after the rally: GF Value characterizes CVX as overvalued, while one reported average analyst target of $213.08 is below the recent trading level. Chevron Valuation Analysis
• Negative Sentiment: Chevron’s planned one-time charge of roughly $3 billion to $4 billion will weigh on reported results, while its warning that diesel and fuel-export restrictions could backfire introduces policy risk.

Insider Buying and Selling

In other Chevron news, Director John Hess sold 710,665 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total value of $137,940,076.50. Following the sale, the director owned 363,711 shares in the company, valued at approximately $70,596,305.10. This represents a 66.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider R. Pate sold 2,470 shares of the company's stock in a transaction that occurred 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 sale, the insider owned 10,794 shares in the company, valued at approximately $2,213,957.34. This represents a 18.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,152,582 shares of company stock valued at $225,853,661. Insiders own 0.56% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CVX shares. Bank of America increased their price target on shares of Chevron from $210.00 to $227.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Wells Fargo & Company lifted their price objective on shares of Chevron from $226.00 to $230.00 and gave the company an "overweight" rating in a research note on Thursday, September 3rd. Dbs Bank raised shares of Chevron to a "moderate buy" rating in a report on Thursday, August 6th. Royal Bank Of Canada upped their price objective on shares of Chevron from $220.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, September 24th. Finally, BMO Capital Markets increased their price objective on shares of Chevron from $210.00 to $235.00 and gave the stock an "outperform" rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $213.08.

Chevron Stock Performance

Shares of CVX stock opened at $218.01 on Wednesday. The stock has a market cap of $430.73 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 0.60 and a beta of 0.53. The business has a 50-day simple moving average of $205.49 and a 200-day simple moving average of $193.13. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $218.79.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping analysts' consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%. The company's revenue was up 57.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.77 earnings per share. On average, equities analysts expect that Chevron Corporation will post 17.43 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were issued a $1.78 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.3%. Chevron's payout ratio is presently 68.26%.

Chevron Profile

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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