Comerica Bank Purchases 26,707 Shares of Chevron Corporation $CVX

Key Points

• Comerica Bank bought 26,707 shares of Chevron in the third quarter, increasing its stake to 830,298 shares valued at about $128.94 million, and institutional investors now own roughly 72.42% of CVX.
• Large insider selling occurred on March 2: Vice Chairman Mark A. Nelson sold 139,600 shares and CEO Michael K. Wirth sold 272,624 shares, with insiders offloading 1,099,397 shares (~$196.2M) over the past 90 days, leaving insiders with just 0.21% ownership.
• Analyst views are mixed—MarketBeat shows a consensus Hold with an average target of $182.05 while some firms lift targets (Piper Sandler to $242)—and Chevron raised its quarterly dividend to $1.78 (annualized $7.12, ~3.6% yield).

Comerica Bank lifted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 830,298 shares of the oil and gas company's stock after purchasing an additional 26,707 shares during the period. Comerica Bank's holdings in Chevron were worth $128,937,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Texas Capital Bank Wealth Management Services Inc raised its holdings in shares of Chevron by 13.5% during the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 9,807 shares of the oil and gas company's stock valued at $1,523,000 after acquiring an additional 1,167 shares in the last quarter. Maia Wealth LLC boosted its holdings in Chevron by 28.3% in the third quarter. Maia Wealth LLC now owns 7,558 shares of the oil and gas company's stock valued at $1,176,000 after acquiring an additional 1,666 shares in the last quarter. Main Street Research LLC boosted its holdings in Chevron by 76.2% in the third quarter. Main Street Research LLC now owns 16,801 shares of the oil and gas company's stock valued at $2,609,000 after acquiring an additional 7,267 shares in the last quarter. Nicolet Advisory Services LLC increased its position in Chevron by 2.1% during the 3rd quarter. Nicolet Advisory Services LLC now owns 12,099 shares of the oil and gas company's stock valued at $1,874,000 after purchasing an additional 244 shares during the period. Finally, Regal Investment Advisors LLC raised its holdings in Chevron by 3.0% in the 3rd quarter. Regal Investment Advisors LLC now owns 55,617 shares of the oil and gas company's stock worth $8,637,000 after purchasing an additional 1,611 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of several research analyst reports. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and set a $180.00 target price for the company. in a research report on Monday, February 2nd. JPMorgan Chase & Co. raised shares of Chevron from a "neutral" rating to an "overweight" rating and set a $176.00 price target for the company in a research note on Tuesday, January 20th. Scotiabank restated a "sector perform" rating and issued a $168.00 price objective on shares of Chevron in a report on Friday, January 16th. Zacks Research raised Chevron from a "strong sell" rating to a "hold" rating in a research report on Tuesday, December 23rd. Finally, Melius Research upgraded Chevron from a "hold" rating to a "buy" rating and set a $205.00 target price on the stock in a report on Tuesday, February 17th. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $182.05.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Geopolitical-driven oil rally is lifting energy names like Chevron as investors position for tighter supply; this is a primary driver behind recent upside in CVX. Wall Street Roundup: War, Oil, Airlines, Energy, AI, Private Credit
• Positive Sentiment: Piper Sandler raised its price target to $242 and moved to an "overweight" rating, signaling notable analyst upside that can support further buying interest. Piper Sandler price target raise
• Positive Sentiment: Chevron expanded its U.S. deepwater exposure via recent Gulf of Mexico lease activity, reinforcing confidence in long-term upstream growth and reserves development. Chevron Expands Gulf of Mexico Presence With Latest Lease Sale
• Positive Sentiment: Unusual options flow showed heavy call buying (111,021 calls), indicating speculative/bullish positioning that can amplify near-term upside.
• Neutral Sentiment: Chevron agreed to sell its stakes in Angola Blocks 14/14K to Energean for about $260M — a small portfolio divestment that trims international exposure but provides cash for reallocation; impact is strategic rather than material to earnings. Energean to acquire Chevron’s stakes in offshore Angola blocks
• Neutral Sentiment: Worley won a FEED contract for Chevron’s Aphrodite gas field (Cyprus), confirming project progress; it's a positive operational step but the contract award mainly benefits the supplier and signals Chevron advancing development plans. Worley secures contract from Chevron for Aphrodite gas field FEED
• Neutral Sentiment: Analyst and media coverage is debating valuation as CVX approaches $200 after a ~30% run in 2026; some see upside if oil holds, others warn the rally could be stretched. Chevron Near $200 While Oil Tops $100: Does CVX Merit a Buy?
• Negative Sentiment: Chevron faces a DOJ settlement: a $1M penalty and retirement of $3.6M in invalid renewable fuel credits — reputational and compliance negative, though the financial hit is modest. Chevron Hit With $1 Million Penalty Over Invalid Clean Fuel Credits
• Negative Sentiment: MarketBeat and technical indicators note momentum warnings (MACD/RSI weakening) and the IEA's coordinated reserve releases could cap oil — if oil eases, Chevron's rally could reverse quickly. Chevron Hits New Highs Due to Oil's Rally, But Is It Sustainable?

Insider Transactions at Chevron

In related news, Vice Chairman Mark A. Nelson sold 139,600 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total value of $26,233,632.00. Following the sale, the insider owned 11,337 shares in the company, valued at $2,130,449.04. This represents a 92.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael K. Wirth sold 272,624 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $189.35, for a total value of $51,621,354.40. Following the transaction, the chief executive officer directly owned 31,266 shares of the company's stock, valued at approximately $5,920,217.10. This trade represents a 89.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,099,397 shares of company stock worth $196,196,468. Company insiders own 0.21% of the company's stock.

Chevron Stock Down 0.0%

NYSE:CVX opened at $196.95 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. The firm's 50-day moving average price is $177.33 and its 200-day moving average price is $162.02. The company has a market capitalization of $393.00 billion, a PE ratio of 29.57, a P/E/G ratio of 1.98 and a beta of 0.67. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $198.88.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The company had revenue of $45.79 billion during the quarter, compared to analysts' expectations of $48.18 billion. During the same period last year, the company posted $2.06 EPS. Chevron's revenue was down 10.2% on a year-over-year basis. On average, equities analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were issued a dividend of $1.78 per share. The ex-dividend date was Tuesday, February 17th. This is a positive change from Chevron's previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a dividend yield of 3.6%. Chevron's dividend payout ratio (DPR) is 106.91%.

About Chevron

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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