Dodge & Cox Purchases 41,414 Shares of Chevron Corporation $CVX

Key Points

• Dodge & Cox boosted its Chevron stake by 22.8% in Q3, acquiring 41,414 shares to hold 223,271 shares worth about $34.67 million, while institutional investors now own roughly 72.4% of CVX.
• Analyst sentiment is mixed — 13 Buys, 7 Holds and 4 Sells — with a consensus target of $182.05, though some firms (notably Piper Sandler) have raised targets as high as $242 amid a recent rally toward $200.
• Chevron raised its quarterly dividend to $1.78 ($7.12 annualized) for a 3.6% yield, but the payout ratio is about 106.9%, signaling potential concerns about dividend sustainability.

Dodge & Cox raised its position in Chevron Corporation (NYSE:CVX - Free Report) by 22.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 223,271 shares of the oil and gas company's stock after acquiring an additional 41,414 shares during the period. Dodge & Cox's holdings in Chevron were worth $34,672,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of CVX. Vanguard Group Inc. raised its holdings in shares of Chevron by 17.9% in the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company's stock valued at $28,540,753,000 after purchasing an additional 27,961,463 shares during the last quarter. Norges Bank bought a new position in Chevron in the second quarter valued at $2,721,477,000. Primecap Management Co. CA acquired a new stake in Chevron in the 3rd quarter valued at $988,083,000. Bank of New York Mellon Corp increased its stake in Chevron by 27.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company's stock valued at $3,047,900,000 after buying an additional 4,279,918 shares during the last quarter. Finally, Laurel Wealth Advisors LLC lifted its position in Chevron by 14,194.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company's stock worth $532,984,000 after buying an additional 3,696,177 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several analyst reports. Barclays raised their price objective on Chevron from $158.00 to $166.00 and gave the company an "equal weight" rating in a report on Wednesday, January 21st. Wells Fargo & Company increased their price target on Chevron from $196.00 to $204.00 and gave the company an "overweight" rating in a research report on Monday, February 2nd. Morgan Stanley dropped their price objective on Chevron from $180.00 to $174.00 and set an "overweight" rating on the stock in a research note on Friday, January 23rd. BMO Capital Markets reissued an "outperform" rating and issued a $190.00 price objective on shares of Chevron in a report on Monday, February 2nd. Finally, Piper Sandler upped their price target on shares of Chevron from $179.00 to $242.00 and gave the stock an "overweight" rating in a research report on Thursday. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $182.05.

Chevron Stock Performance

CVX opened at $196.95 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $198.88. The business has a 50 day moving average of $177.33 and a 200-day moving average of $162.02. The stock has a market cap of $393.00 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 1.98 and a beta of 0.67.

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

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were issued a $1.78 dividend. This is an increase from Chevron's previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Tuesday, February 17th. Chevron's dividend payout ratio is presently 106.91%.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 320,700 shares of the company's stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $162.99, for a total value of $52,270,893.00. Following the transaction, the chief executive officer owned 14,450 shares in the company, valued at approximately $2,355,205.50. This represents a 95.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R. Hewitt Pate sold 58,000 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $188.65, for a total transaction of $10,941,700.00. Following the completion of the transaction, the insider directly owned 8,558 shares in the company, valued at approximately $1,614,466.70. This represents a 87.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,099,397 shares of company stock valued at $196,196,468 over the last three months. Company insiders own 0.21% of the company's stock.

Chevron News Roundup

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?

Chevron 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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