Chevron Corporation $CVX Stock Holdings Boosted by Patriot Financial Group Insurance Agency LLC

Key Points

• Patriot Financial Group increased its Chevron stake by 132.3% in the first quarter, ending with 38,148 shares valued at about $7.9 million.
• Insider selling was notable: Director John B. Hess sold 380,000 shares on May 20 for roughly $73.4 million, cutting his ownership by 57.75%.
• Chevron reported better-than-expected earnings of $1.41 per share for the quarter, while also paying a $1.78 quarterly dividend that implies a 4.2% annual yield.

Patriot Financial Group Insurance Agency LLC grew its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 132.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 38,148 shares of the oil and gas company's stock after purchasing an additional 21,723 shares during the quarter. Patriot Financial Group Insurance Agency LLC's holdings in Chevron were worth $7,893,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVX. Chemung Canal Trust Co. boosted its stake in Chevron by 3.4% during the first quarter. Chemung Canal Trust Co. now owns 12,464 shares of the oil and gas company's stock valued at $2,579,000 after buying an additional 408 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Chevron by 6.8% in the first quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company's stock worth $258,853,000 after acquiring an additional 79,439 shares in the last quarter. Horizon Bancorp Inc. IN raised its position in Chevron by 9.0% in the first quarter. Horizon Bancorp Inc. IN now owns 1,519 shares of the oil and gas company's stock worth $314,000 after acquiring an additional 125 shares in the last quarter. Diamant Asset Management Inc. lifted its holdings in Chevron by 20,935.5% in the 1st quarter. Diamant Asset Management Inc. now owns 1,095,949 shares of the oil and gas company's stock valued at $226,752,000 after acquiring an additional 1,090,739 shares during the last quarter. Finally, J. L. Bainbridge & Co. Inc. lifted its holdings in Chevron by 3.0% in the 1st quarter. J. L. Bainbridge & Co. Inc. now owns 2,200 shares of the oil and gas company's stock valued at $455,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares of the company's stock, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.56% of the stock is currently owned by company insiders.

Chevron Trading Down 1.4%

Shares of NYSE CVX opened at $168.61 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12 month low of $142.40 and a 12 month high of $214.71. The company has a market cap of $335.81 billion, a price-to-earnings ratio of 29.22, a P/E/G ratio of 0.56 and a beta of 0.48. The business has a fifty day simple moving average of $184.71 and a 200-day simple moving average of $180.14.

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

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Tuesday, May 19th. Chevron's dividend payout ratio (DPR) is presently 123.40%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Piper Sandler raised their price objective on shares of Chevron from $179.00 to $242.00 and gave the company an "overweight" rating in a research report on Thursday, March 12th. Weiss Ratings downgraded shares of Chevron from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 2nd. Wells Fargo & Company increased their target price on shares of Chevron from $204.00 to $222.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. Bank of America raised their target price on shares of Chevron from $188.00 to $206.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Chevron has an average rating of "Moderate Buy" and an average target price of $205.52.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expanding its data-center power strategy beyond Project Kilby, using natural gas to target rising AI-related electricity demand and potentially opening a new growth avenue. Chevron Expands Data Center Power Strategy Beyond Project Kilby
• Positive Sentiment: Chevron secured Texas Pacific Land support for Project Kilby, a large joint initiative with Microsoft, reinforcing execution on a potentially meaningful infrastructure and power project. Chevron Corporation (CVX) Secures Texas Pacific Land Support on Microsoft’s Project Kilby
• Positive Sentiment: Morgan Stanley kept an overweight rating on Chevron while trimming its price target only slightly to $210, signaling continued analyst confidence in upside from current levels. Benzinga report on Morgan Stanley price target cut
• Neutral Sentiment: Several recent articles highlight Chevron’s push deeper into offshore energy and its broader role in a volatile oil market, but these are more about strategy and sector positioning than a clear near-term catalyst. Chevron NYSE: CVX Pushes Deeper Into Offshore Energy
• Neutral Sentiment: Comparisons with Occidental Petroleum and commentary on Chevron’s valuation suggest investors are still weighing CVX’s upside versus peers, but no decisive new fundamental shift was reported. Occidental Petroleum or Chevron: Which Oil Stock Offers More Upside?
• Negative Sentiment: Chevron is being hurt by weaker crude prices, which pressure near-term oil and gas earnings expectations and weigh on sentiment across the sector. Why Is Chevron NYSE: CVX in Focus As Crude Slips?
• Negative Sentiment: Coverage noting that oil prices have fallen back toward pre-Iran-war levels suggests the broader commodity backdrop is less supportive for CVX in the near term. Energy ETFs to Buy as Oil Price Slides to Pre-Iran War Level

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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