Davidson Trust Co. Lowers Stock Holdings in Chevron Corporation $CVX

Key Points

• Davidson Trust Co. cut its stake in Chevron by 66.6% in Q4, selling 18,136 shares and leaving 9,093 shares valued at about $1.386 million.
• Significant insider and institutional activity: insiders sold a total of 779,407 shares (~$146 million) in the past three months while hedge funds and other institutions own roughly 72.42% of CVX and corporate insiders hold 0.56%.
• Analyst sentiment is broadly positive with a consensus target of $194.21 ("Moderate Buy"), and Chevron recently raised its quarterly dividend to $1.78 (annualized $7.12) for a ~3.9% yield, despite a payout ratio above 100% (106.91%).

Davidson Trust Co. reduced its position in Chevron Corporation (NYSE:CVX - Free Report) by 66.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,093 shares of the oil and gas company's stock after selling 18,136 shares during the period. Davidson Trust Co.'s holdings in Chevron were worth $1,386,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CVX. United Bank raised its holdings in Chevron by 7.7% in the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company's stock worth $1,586,000 after acquiring an additional 796 shares during the last quarter. Schnieders Capital Management LLC. raised its holdings in Chevron by 9.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company's stock worth $7,280,000 after acquiring an additional 4,214 shares during the last quarter. BNP Paribas raised its holdings in Chevron by 76.4% in the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company's stock worth $63,000 after acquiring an additional 191 shares during the last quarter. Osterweis Capital Management Inc. raised its holdings in Chevron by 678.9% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company's stock worth $195,000 after acquiring an additional 1,188 shares during the last quarter. Finally, Main Street Financial Solutions LLC raised its holdings in Chevron by 3.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company's stock worth $2,299,000 after acquiring an additional 553 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CVX shares. HSBC upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $215.00 price objective for the company in a report on Friday, March 20th. Sanford C. Bernstein boosted their price objective on shares of Chevron from $170.00 to $172.00 and gave the stock a "market perform" rating in a report on Monday, January 5th. Morgan Stanley boosted their price objective on shares of Chevron from $174.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, March 27th. Melius Research upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $205.00 price objective for the company in a report on Tuesday, February 17th. Finally, Jefferies Financial Group boosted their price objective on shares of Chevron from $174.00 to $189.00 and gave the stock a "buy" rating in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $194.21.

Chevron Trading Up 0.0%

Shares of CVX stock opened at $184.08 on Monday. Chevron Corporation has a 1 year low of $132.33 and a 1 year high of $214.71. The firm has a fifty day moving average price of $192.34 and a 200-day moving average price of $169.16. 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 company has a market cap of $366.74 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 1.18 and a beta of 0.60.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. During the same quarter in the previous year, the firm posted $2.06 EPS. The company's revenue for the quarter was down 10.2% compared to the same quarter last year. As a group, equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were issued a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $7.12 annualized dividend and a yield of 3.9%. This is an increase from Chevron's previous quarterly dividend of $1.71. Chevron's payout ratio is currently 106.91%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: High yield and income appeal — Coverage highlights Chevron as a top dividend stock and notes very attractive forward yields for early buyers, supporting investor demand for income. Read More.
• Positive Sentiment: Strong balance sheet and capital resilience — Analysts and commentary rank Chevron just behind Exxon on financial strength, suggesting it can withstand oil‑price swings and sustain buybacks/dividends. Read More.
• Positive Sentiment: Buy‑the‑dip sentiment and options trade ideas — Several outlets and services are pitching CVX as a tactical buy after the pullback, which could attract short‑term dip buyers. Read More.
• Positive Sentiment: Hess acquisition seen as strategically accretive — Analysis argues the $53B Hess deal may have been timed well and should add production and cash flow over time, supporting long‑term upside. Read More.
• Neutral Sentiment: Peer comparison — A note compares Petrobras and Chevron, highlighting Petrobras’ growth edge; useful for investors weighing growth vs stability but not an immediate catalyst. Read More.
• Neutral Sentiment: Regulatory/bill developments — The House passed H.R. 6409 relating to foreign emissions treatment; impact on Chevron is uncertain and longer‑term if enacted. Read More.
• Negative Sentiment: Immediate oil‑price shock and Strait reopening — Markets rallied broadly but oil prices fell after the Strait of Hormuz reopened, prompting a pullback in oil majors including Chevron. Read More.
• Negative Sentiment: Analyst downgrade and short‑term selling — A reported analyst downgrade contributed to yesterday’s slide and continues to pressure the name amid lower oil. Read More.
• Negative Sentiment: Headline risk from Iran war developments — Commentary notes that signs the Iran‑driven risk premium is easing (or the war ending) reduced the war‑related premium that had boosted CVX, producing volatility. Read More.

Insider Buying and Selling

In related news, insider Andrew Benjamin Walz sold 22,200 shares of the company's stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $176.53, for a total value of $3,918,966.00. Following the completion of the transaction, the insider owned 666 shares of the company's stock, valued at approximately $117,568.98. This represents a 97.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the company's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the transaction, the insider directly owned 11,337 shares of the company's stock, valued at $2,130,449.04. This represents a 92.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 779,407 shares of company stock worth $145,972,971 in the last three months. Corporate insiders own 0.56% of the company's stock.

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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