Factory Mutual Insurance Co. Sells 10,750 Shares of Chevron Corporation $CVX

Key Points

• Factory Mutual Insurance Co. trimmed its Chevron stake by 3.0% in Q4, selling 10,750 shares and leaving 352,367 shares valued at about $53.7 million.
• Major insider selling: CEO Michael Wirth sold 272,624 shares and Vice Chairman Mark Nelson sold 139,600 on March 2, and insiders have sold 782,607 shares (~$146.5M) over the last three months, leaving insiders with 0.21% ownership.
• Analyst sentiment: the stock has a consensus rating of "Moderate Buy" with an average price target of $190.04, and several firms recently raised targets into the $189–$217 range.

Factory Mutual Insurance Co. trimmed its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 352,367 shares of the oil and gas company's stock after selling 10,750 shares during the period. Factory Mutual Insurance Co.'s holdings in Chevron were worth $53,704,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CVX. United Bank grew its holdings in Chevron by 7.7% during the second quarter. United Bank now owns 11,079 shares of the oil and gas company's stock valued at $1,586,000 after purchasing an additional 796 shares during the period. Schnieders Capital Management LLC. grew its holdings in Chevron by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company's stock valued at $7,280,000 after purchasing an additional 4,214 shares during the period. BNP Paribas raised its stake in Chevron by 76.4% during the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company's stock worth $63,000 after buying an additional 191 shares during the period. Treasurer of the State of North Carolina lifted its holdings in Chevron by 1.7% during the second quarter. Treasurer of the State of North Carolina now owns 761,948 shares of the oil and gas company's stock worth $109,103,000 after acquiring an additional 12,517 shares in the last quarter. Finally, ICW Investment Advisors LLC lifted its holdings in Chevron by 2.2% during the second quarter. ICW Investment Advisors LLC now owns 15,459 shares of the oil and gas company's stock worth $2,214,000 after acquiring an additional 333 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analyst Weigh In

CVX has been the topic of several recent analyst reports. Jefferies Financial Group lifted their target price on Chevron from $174.00 to $189.00 and gave the stock a "buy" rating in a report on Wednesday, January 14th. Mizuho lifted their target price on Chevron from $206.00 to $217.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. 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. Morgan Stanley lifted their target price on Chevron from $174.00 to $212.00 and gave the stock an "overweight" rating in a report on Friday, March 27th. Finally, Argus set a $203.00 target price on Chevron in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $190.04.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 272,624 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the firm's stock in a transaction on Monday, March 2nd. The shares were 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 approximately $2,130,449.04. This trade represents a 92.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 782,607 shares of company stock valued at $146,510,571 over the last three months. Insiders own 0.21% of the company's stock.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Confirmed oil discovery at the Bandit prospect in the Gulf of America bolsters Chevron's deepwater growth optionality and potential future production/tie‑back opportunities. Chevron Confirms Major Oil Discovery in the Gulf of America
• Positive Sentiment: Short interest fell materially in March (down ~14.5% to ~21.0M shares; days‑to‑cover ~1.3), reducing one potential source of near‑term downside pressure.
• Positive Sentiment: Chevron approved the ~$690M Aseng gas project, strengthening its LNG growth profile and future cash‑flow diversification. Chevron Approves $690M Aseng Gas Project to Boost LNG Supply
• Neutral Sentiment: Street estimates are split: some reports forecast a Q1 upstream boost (+$1.6B–$2.2B) from higher oil/gas prices, supporting earnings upside if prices hold. Chevron forecasts up to $2.2 bln boost to upstream earnings from higher prices in Q1
• Neutral Sentiment: Analysts warn Q1 will be "noisy" with offsetting forces (price tailwinds vs hedging/volatility); the report due May 1 is a likely catalyst. Chevron Q1 Earnings Will Be 'Noisy' As Headwinds Reverse To Tailwinds: Analyst
• Negative Sentiment: Chevron warned that Middle East volatility and related effects (including hedging) could hit Q1 earnings and cash flow materially — management cited an adverse impact in the multi‑billion‑dollar range, prompting UBS to cut near‑term forecasts. Chevron flags multi-billion-dollar hit from Middle East volatility
• Negative Sentiment: Public commentary highlights hedging risks and potential earnings drag from geopolitical disruptions, adding downside risk to near‑term prints. Chevron sees Iran war oil boost, warns hedging to weigh
• Negative Sentiment: Wall Street previews suggest EPS could be down double digits in Q1 absent favorable price offsets, increasing the chance of volatile reaction at the report. Chevron's Quarterly Earnings Preview: What You Need to Know

Chevron Stock Down 0.9%

Shares of CVX stock opened at $188.57 on Friday. The firm has a fifty day moving average of $191.51 and a 200-day moving average of $167.98. 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 $214.71. The company has a market capitalization of $375.68 billion, a price-to-earnings ratio of 28.31, a P/E/G ratio of 1.41 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, topping the consensus estimate 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 the consensus estimate of $48.18 billion. During the same quarter in the prior year, the firm earned $2.06 earnings per share. The firm's revenue was down 10.2% compared to the same quarter last year. As a group, equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were given a dividend of $1.78 per share. 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 3.8%. The ex-dividend date of this dividend was Tuesday, February 17th. Chevron's payout ratio is currently 106.91%.

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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