Chevron Corporation $CVX Stock Position Decreased by Adams Diversified Equity Fund Inc.

Key Points

• Adams Diversified Equity Fund cut its Chevron stake by 17.8% in the first quarter, selling 30,300 shares and leaving it with 140,227 shares valued at about $29.0 million.
• Chevron has several positive business developments, including a majority-stake deal in Greece’s Southern Ionian Sea Block 10 and a 20-year natural gas supply agreement with a Microsoft data center in West Texas.
• The stock faces headline and regulatory risk after reports of a DOJ probe into gasoline pricing, even as analysts remain broadly constructive with a Moderate Buy rating and an average price target of about $205.70.

Adams Diversified Equity Fund Inc. trimmed its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 17.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,227 shares of the oil and gas company's stock after selling 30,300 shares during the quarter. Chevron makes up about 1.0% of Adams Diversified Equity Fund Inc.'s investment portfolio, making the stock its 23rd largest holding. Adams Diversified Equity Fund Inc.'s holdings in Chevron were worth $29,013,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. BKM Wealth Management LLC raised its position in Chevron by 16.0% during the first quarter. BKM Wealth Management LLC now owns 11,864 shares of the oil and gas company's stock valued at $2,455,000 after acquiring an additional 1,633 shares in the last quarter. Benchmark Financial LLC bought a new position in shares of Chevron during the 1st quarter valued at $207,000. Hofer & Associates. Inc raised its holdings in shares of Chevron by 4.6% during the 1st quarter. Hofer & Associates. Inc now owns 1,999 shares of the oil and gas company's stock valued at $414,000 after purchasing an additional 87 shares in the last quarter. Spectrum Asset Management Inc. NB CA lifted its stake in shares of Chevron by 7.5% in the 1st quarter. Spectrum Asset Management Inc. NB CA now owns 32,319 shares of the oil and gas company's stock valued at $6,687,000 after purchasing an additional 2,255 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Chevron by 5.6% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 512,189 shares of the oil and gas company's stock valued at $105,972,000 after purchasing an additional 27,262 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron expanded its upstream footprint by agreeing to take a majority stake and operatorship in Greece’s Southern Ionian Sea Block 10, a move that could add long-term exploration upside and strengthen its Eastern Mediterranean presence. Chevron (CVX) Expands Into Greece Block 10 While Venezuela Operations Stay Running
• Positive Sentiment: The company also announced a 20-year deal to supply natural gas to a Microsoft data center in West Texas, signaling a new avenue for stable, long-duration demand and potential growth from energy infrastructure tied to AI. Chevron, Microsoft deal fuels West Texas data center expansion
• Positive Sentiment: Chevron confirmed that its Venezuela operations remain safe and fully operational after the earthquakes, reducing near-term disruption risk while the company supports relief efforts. Chevron Confirms Safe Venezuela Operations After Major Earthquakes
• Neutral Sentiment: Chevron committed $1 million to earthquake relief in Venezuela, a humanitarian move that is unlikely to materially affect earnings but may support its reputation. Chevron Commits $1 Million to Support Earthquake Relief in Venezuela
• Neutral Sentiment: Reuters reported Chevron is exploring additional deals to power U.S. data centers, which suggests optionality and diversification, but no immediate financial impact was disclosed. Chevron eyes more deals to power US data centers
• Negative Sentiment: Investor caution rose after reports that the Trump administration ordered a DOJ probe into gasoline pricing at Chevron and other major oil companies, creating headline risk and possible regulatory overhang. Trump Orders DOJ Investigation Into Exxon (XOM) and Chevron (CVX) Over Gas Pump Pricing
• Negative Sentiment: Chevron’s CFO said gasoline prices should decline, but only with a lag, reinforcing concerns that near-term pricing and margins may remain uncertain if crude prices keep falling. Chevron CFO says gas prices will normalize after Trump presses Big Oil

Analyst Upgrades and Downgrades

Several equities analysts have commented on CVX shares. Bank of America increased their target price on shares of Chevron from $188.00 to $206.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Barclays upped their price target on Chevron from $192.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 26th. The Goldman Sachs Group reissued a "buy" rating and issued a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. Morgan Stanley boosted their target price on Chevron from $212.00 to $214.00 and gave the stock an "overweight" rating in a report on Friday, May 22nd. Finally, Tudor Pickering raised Chevron from a "hold" rating to a "buy" rating and set a $225.00 target price for the company in a research report on Thursday, April 9th. Eighteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's 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 Down 0.2%

Shares of NYSE:CVX opened at $170.67 on Monday. 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 stock's 50-day moving average is $185.10 and its 200-day moving average is $180.00. The company has a market cap of $339.91 billion, a P/E ratio of 29.58, a P/E/G ratio of 0.56 and a beta of 0.48. 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 issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the previous year, the business posted $2.18 EPS. The company's revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts predict that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 4.2%. Chevron's payout ratio is 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 shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares of the company's stock, valued at $53,718,294. This represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is currently owned by insiders.

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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