Chevron Corporation $CVX Stock Position Decreased by WealthPlan Investment Management LLC

Key Points

• WealthPlan Investment Management reduced its Chevron stake by 9.2% in the fourth quarter, though institutional ownership of the company remains high at 72.42%.
• Analysts have turned more positive on Chevron, with several firms raising ratings or price targets; the consensus rating is now Moderate Buy with an average target price of $204.13.
• Chevron reported mixed quarterly results: EPS beat expectations at $1.41, but revenue came in below forecasts, even as the company maintained a quarterly dividend of $1.78 per share.

WealthPlan Investment Management LLC cut its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 9.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,332 shares of the oil and gas company's stock after selling 8,794 shares during the quarter. WealthPlan Investment Management LLC's holdings in Chevron were worth $13,158,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Dakota Wealth Management raised its stake in Chevron by 14.9% during the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock valued at $12,690,000 after purchasing an additional 10,822 shares during the period. Brooklyn FI LLC acquired a new stake in Chevron during the 3rd quarter valued at $431,000. Clear Trail Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at $10,167,000. Finemark National Bank & Trust raised its stake in Chevron by 40.3% during the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company's stock valued at $8,779,000 after purchasing an additional 16,243 shares during the period. Finally, Curtis Advisory Group LLC acquired a new stake in Chevron during the 4th quarter valued at $1,381,000. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Chevron in a research note on Wednesday, January 21st. Bank of America boosted their target price on shares of Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. Zacks Research raised shares of Chevron from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 3rd. Tudor Pickering raised shares of Chevron from a "hold" rating to a "buy" rating and set a $225.00 price target on the stock in a research note on Thursday, April 9th. Finally, UBS Group upped their price target on shares of Chevron from $218.00 to $220.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $204.13.

Insider Transactions at Chevron

In related news, Vice Chairman Mark A. Nelson sold 139,600 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the completion of the sale, the insider directly owned 11,337 shares in the company, valued at approximately $2,130,449.04. This represents a 92.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John B. Hess sold 195,000 shares of the company's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $184.78, for a total transaction of $36,032,100.00. Following the completion of the sale, the director owned 658,045 shares of the company's stock, valued at $121,593,555.10. This represents a 22.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 803,570 shares of company stock valued at $151,969,798 in the last three months. 0.56% of the stock is currently owned by company insiders.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell its Singapore refining stake and other Asia-Pacific downstream assets to ENEOS for roughly $2.17 billion, reinforcing its strategy to streamline the portfolio and potentially improve returns. Reuters article on ENEOS buying Chevron assets
• Positive Sentiment: Another report framed Chevron’s recent earnings as less weak than the headline numbers suggested, noting that the company’s share price did not fall sharply after the results, which may indicate investors are focusing on underlying cash generation and strategic actions rather than the revenue miss. Yahoo Finance article on Chevron earnings
• Neutral Sentiment: Market commentary this week also compared Chevron with TotalEnergies and discussed broader oil-sector themes, but those pieces were more about sector positioning than a direct new fundamental change for Chevron. Motley Fool comparison article
• Negative Sentiment: Chevron’s latest quarter was mixed, with earnings per share beating estimates but revenue coming in below expectations, which could temper enthusiasm if investors refocus on operating performance rather than asset sales. Chevron stock background

Chevron Trading Up 2.3%

NYSE CVX opened at $190.91 on Friday. Chevron Corporation has a 1-year low of $133.77 and a 1-year high of $214.71. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $380.22 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 0.65 and a beta of 0.51. The firm's fifty day simple moving average is $193.14 and its 200-day simple moving average is $173.26.

Chevron (NYSE:CVX - Get Free Report) last posted 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. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the prior year, the business posted $2.18 earnings per share. Chevron's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Corporation will post 15.43 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be issued a $1.78 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. Chevron's dividend payout ratio is currently 123.40%.

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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