Deprince Race & Zollo Inc. Sells 51,375 Shares of Chevron Corporation $CVX

Key Points

• Deprince Race & Zollo cut its Chevron position by 26.7% in the first quarter, selling 51,375 shares and leaving it with 140,791 shares valued at about $29.1 million.
• Chevron is getting a boost from a 20-year Microsoft power deal tied to an AI data center in Texas, and the company is exploring more U.S. data-center electricity projects as a new growth area.
• Despite positive news, Chevron faces near-term pressure from sliding oil prices and a lowered price target from Morgan Stanley, even as analysts overall still rate the stock a Moderate Buy with an average target of $205.71.

Deprince Race & Zollo Inc. lessened its stake in Chevron Corporation (NYSE:CVX - Free Report) by 26.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 140,791 shares of the oil and gas company's stock after selling 51,375 shares during the quarter. Deprince Race & Zollo Inc.'s holdings in Chevron were worth $29,130,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock worth $23,698,184,000 after buying an additional 12,789,399 shares during the period. Berkshire Hathaway Inc raised its position in shares of Chevron by 6.6% in the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock valued at $19,837,131,000 after acquiring an additional 8,091,570 shares during the period. Geode Capital Management LLC raised its position in shares of Chevron by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company's stock valued at $6,620,187,000 after acquiring an additional 134,890 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company's stock worth $5,492,377,000 after acquiring an additional 961,341 shares during the last quarter. Finally, Norges Bank bought a new position in Chevron during the 4th quarter worth approximately $3,727,586,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wolfe Research upgraded Chevron to Outperform, saying the recent pullback has made the shares more attractive and that improving long-term free cash flow is not fully reflected in the stock price. Wolfe Research upgrades Chevron to Outperform on strong cash flow outlook
• Positive Sentiment: Chevron signed a 20-year deal with Microsoft to supply electricity for an AI-focused Texas data center, and it is reviewing additional U.S. data-center power projects, highlighting a new growth avenue beyond traditional oil and gas. Chevron (CVX) Just Signed A 20 Year Microsoft AI Data Center Power Deal
• Positive Sentiment: Investors are also being reminded of Chevron’s dividend appeal and long record of shareholder payouts, which may help cushion sentiment during energy-sector volatility. Chevron Yields 4.2% Because Oil Prices Make Everyone Nervous. Here’s Why That Thinking Is Outdated
• Neutral Sentiment: Chevron announced its 2Q 2026 earnings conference call and webcast for July 31, which is routine but keeps investors focused on upcoming results. Advisory: Chevron Corporation's 2Q 2026 Earnings Conference Call and Webcast
• Neutral Sentiment: Several commentary pieces continue to frame Chevron as a high-yield, value-oriented energy stock, but these are mostly reiterations rather than new company-specific catalysts. Should You Buy Chevron While It's Below $180 or Wait for a Bigger Dip?
• Negative Sentiment: Oil prices have fallen to a four-month low, which is a headwind for Chevron’s upstream earnings and helps explain why the stock has been trading lower despite positive long-term announcements. Oil's 4-month low hands Exxon, Chevron a fresh problem
• Negative Sentiment: Morgan Stanley reportedly lowered its price target on Chevron, adding to concern that near-term energy prices may not support earlier valuation expectations. Chevron (CVX) Price Target Lowered at Morgan Stanley. Here is Why

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada restated an "outperform" rating and set a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. BNP Paribas Exane upgraded shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 target price on the stock in a report on Friday, April 17th. Wells Fargo & Company lifted their price target on shares of Chevron from $204.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. Piper Sandler boosted their price target on shares of Chevron from $179.00 to $242.00 and gave the company an "overweight" rating in a report on Thursday, March 12th. Finally, Barclays upped their price objective on shares of Chevron from $192.00 to $213.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 26th. Nineteen equities 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $205.71.

Chevron Price Performance

Shares of CVX opened at $169.06 on Friday. The stock has a 50 day simple moving average of $183.65 and a 200 day simple moving average of $180.48. Chevron Corporation has a 52-week low of $145.58 and a 52-week high of $214.71. 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 firm has a market capitalization of $336.71 billion, a PE ratio of 29.30, a P/E/G ratio of 0.55 and a beta of 0.50.

Chevron (NYSE:CVX - Get Free Report) last announced its 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 net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same period last year, the company posted $2.18 EPS. The business's quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts predict that Chevron Corporation will post 15.52 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders 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 annualized dividend and a dividend yield of 4.2%. Chevron's dividend payout ratio is currently 123.40%.

Insider Activity at Chevron

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