Farmers & Merchants Investments Inc. Sells 12,758 Shares of Chevron Corporation $CVX

Key Points

• Farmers & Merchants Investments Inc. cut its Chevron stake by 10.5% in the fourth quarter, selling 12,758 shares and leaving it with 109,020 shares valued at about $16.6 million.
• Chevron’s latest quarterly earnings beat profit expectations with adjusted EPS of $1.41, but revenue came in below Wall Street estimates, creating a mixed earnings picture.
• Despite some selling by insiders, analysts remain generally constructive on the stock: several firms raised price targets, and Chevron continues to offer a 3.9% dividend yield.

Farmers & Merchants Investments Inc. lessened its position in Chevron Corporation (NYSE:CVX - Free Report) by 10.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 109,020 shares of the oil and gas company's stock after selling 12,758 shares during the period. Farmers & Merchants Investments Inc.'s holdings in Chevron were worth $16,616,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Wealth Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter valued at $33,000. Decker Retirement Planning Inc. bought a new position in shares of Chevron in the third quarter valued at about $34,000. Marquette Asset Management LLC bought a new position in shares of Chevron in the third quarter valued at about $41,000. Barnes Dennig Private Wealth Management LLC raised its holdings in shares of Chevron by 306.1% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company's stock valued at $42,000 after buying an additional 202 shares during the last quarter. Finally, Daytona Street Capital LLC bought a new position in shares of Chevron in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 72.42% of the company's stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s first-quarter results beat profit expectations, with adjusted EPS of $1.41 versus the $0.97 consensus, reinforcing the company’s ability to generate earnings even amid volatile energy markets. Chevron (CVX) Reports Q1 Earnings: What Key Metrics Have to Say
• Positive Sentiment: Goldman Sachs raised its price target on Chevron and kept a Buy rating, citing improved confidence in cash flow, production, and shareholder return plans after the earnings report. Goldman Sachs gives Chevron stock price new target after earnings
• Positive Sentiment: Multiple research notes and articles highlighted Chevron as a dividend aristocrat and a long-term value play, which can support investor interest in the stock. 3 ‘Strong Buy’ Dividend Aristocrat Stocks, 5/8/26
• Positive Sentiment: TD Cowen nudged its price target higher to $205 while maintaining a Hold rating, and Erste Group also lifted its FY2027 earnings estimate, signaling still-constructive expectations for Chevron’s earnings outlook. Chevron estimate and target updates
• Neutral Sentiment: Analysts and commentary also pointed to Chevron’s LNG strategy and South Asian export growth as a longer-term earnings driver, but this is more of a strategic backdrop than an immediate catalyst. Can Chevron's South Asian LNG Strategy Drive Long-Term Growth?
• Negative Sentiment: Despite the earnings beat, Chevron’s revenue came in below Wall Street estimates, which may be tempering enthusiasm and contributing to the stock’s weakness. Chevron (CVX) Reports Q1 Earnings: What Key Metrics Have to Say

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 272,624 shares of the 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 sale, the chief executive officer directly owned 31,266 shares in the company, valued at $5,920,217.10. This trade represents a 89.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew Benjamin Walz sold 11,600 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $188.58, for a total transaction of $2,187,528.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 816,439 shares of company stock worth $154,339,900 over the last ninety days. Company insiders own 0.56% of the company's stock.

Chevron Stock Performance

Shares of NYSE:CVX opened at $181.37 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $361.35 billion, a P/E ratio of 31.43, a P/E/G ratio of 0.64 and a beta of 0.51. The business has a 50-day moving average price of $193.21 and a two-hundred day moving average price of $172.09. Chevron Corporation has a 1-year low of $133.77 and a 1-year high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 7.01%. Chevron's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company posted $2.18 EPS. Equities analysts predict that Chevron Corporation will post 14.91 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Tuesday, May 19th. Chevron's dividend payout ratio (DPR) is currently 123.40%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVX. Tudor Pickering raised Chevron from a "hold" rating to a "buy" rating and set a $225.00 price target for the company in a report on Thursday, April 9th. Citigroup lifted their price target on Chevron from $210.00 to $235.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Chevron in a report on Wednesday, January 21st. Barclays lifted their price target on Chevron from $180.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday. Finally, Scotiabank lifted their price target on Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Chevron has an average rating of "Moderate Buy" and a consensus price target of $202.74.

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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