Fortitude Family Office LLC Has $5.63 Million Stock Holdings in Chevron Corporation $CVX

Key Points

• Fortitude Family Office LLC boosted its Chevron stake by 2,449.7% in Q4, buying 35,471 shares to hold 36,919 shares worth about $5.63 million, representing roughly 1.3% of its portfolio and its 20th largest holding.
• Insiders have been net sellers recently—selling 1,099,397 shares valued at approximately $196,196,468 in the last 90 days, including notable trades by R. Hewitt Pate and Andrew Benjamin Walz.
• Chevron raised its quarterly dividend to $1.78 (annualized $7.12, ~3.4% yield), while analysts carry a consensus "Hold" rating with an average price target of $186.50.

Fortitude Family Office LLC increased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 2,449.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,919 shares of the oil and gas company's stock after acquiring an additional 35,471 shares during the period. Chevron comprises approximately 1.3% of Fortitude Family Office LLC's portfolio, making the stock its 20th biggest holding. Fortitude Family Office LLC's holdings in Chevron were worth $5,627,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CVX. Decker Retirement Planning Inc. acquired a new position in Chevron in the 3rd quarter worth about $34,000. Marquette Asset Management LLC acquired a new stake in Chevron in the third quarter valued at approximately $41,000. Barnes Dennig Private Wealth Management LLC grew its position in 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 worth $42,000 after acquiring an additional 202 shares in the last quarter. Evolution Wealth Management Inc. acquired a new position in shares of Chevron during the 2nd quarter worth $49,000. Finally, Turning Point Benefit Group Inc. acquired a new position in shares of Chevron during the 3rd quarter worth $49,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CVX shares. Sanford C. Bernstein upped 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. BMO Capital Markets reiterated an "outperform" rating and set a $190.00 price target on shares of Chevron in a research note on Monday, February 2nd. Argus set a $203.00 price objective on Chevron in a research note on Tuesday, February 3rd. Wells Fargo & Company upped their target price on Chevron from $196.00 to $204.00 and gave the stock an "overweight" rating in a research report on Monday, February 2nd. Finally, TD Cowen lifted their price target on shares of Chevron from $160.00 to $168.00 and gave the company a "hold" rating in a research report on Monday, February 2nd. Fourteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $186.50.

Insider Buying and Selling

In other Chevron news, insider Andrew Benjamin Walz sold 11,600 shares of the company's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $188.58, for a total value of $2,187,528.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider R. Hewitt Pate sold 47,200 shares of Chevron stock in a transaction on Friday, March 6th. The shares were sold at an average price of $192.12, for a total value of $9,068,064.00. Following the transaction, the insider directly owned 8,558 shares of the company's stock, valued at approximately $1,644,162.96. The trade was a 84.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,099,397 shares of company stock worth $196,196,468. Insiders own 0.20% of the company's stock.

Chevron Stock Down 1.9%

Shares of CVX opened at $206.81 on Wednesday. The company has a 50-day simple moving average of $187.24 and a 200-day simple moving average of $165.98. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $214.71. The firm has a market capitalization of $412.67 billion, a P/E ratio of 31.05, a P/E/G ratio of 1.67 and a beta of 0.67.

Chevron (NYSE:CVX - Get Free Report) last announced 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. The company had revenue of $45.79 billion during the quarter, compared to analysts' expectations of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The business's revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.06 EPS. 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 dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This is a positive change from Chevron's previous quarterly dividend of $1.71. This represents a $7.12 dividend on an annualized basis and a yield of 3.4%. Chevron's dividend payout ratio (DPR) is presently 106.91%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil and gas prices improves near‑term revenue/cash flow potential for integrated producers like Chevron; markets closed March with a historic monthly oil-price surge. Oil Prices Post Biggest Monthly Surge in History
• Positive Sentiment: Chevron announced a partnership with Libya’s National Oil Corporation to assess offshore exploration, which could unlock reserves and future production upside. Chevron Partners With Libya's NOC to Unlock Offshore Potential
• Positive Sentiment: Microsoft is reportedly in talks with Chevron and Engine No. 1 about a roughly $7 billion Texas power plant project — this signals Chevron’s involvement in large-scale power/energy-transition infrastructure and potential new revenue streams. Microsoft in talks with Chevron, Engine No. 1 about $7B Texas power plant - Bloomberg
• Positive Sentiment: Wall Street interest and analyst support remain; J.P. Morgan and other coverage highlight Chevron’s strong cash‑flow profile (Tengizchevroil ramp-up), and Berkshire Hathaway remains a large shareholder — factors that support investor demand. Chevron: Leveraging Tengizchevroil’s Ramp-Up and Long-Lived Franchise Strength...
• Neutral Sentiment: Chevron announced senior leadership changes framed as operational and safety-focused; these typically matter more for long-term execution than for immediate stock moves. Chevron Announces Senior Leadership Changes
• Neutral Sentiment: There are bullish commentary pieces suggesting momentum and buy-the-dip interest, but these are sentiment/analysis items rather than company-specific catalysts. Oil Prices Are Near Multiyear Highs. Here's the Best Energy Stock to Buy With $1,000.
• Negative Sentiment: Wheatstone LNG downstream assets in Western Australia suffered extensive cyclone damage; Chevron says the facility will be offline for a number of weeks — lost volumes, repair costs and operational uncertainty are near-term negatives for earnings and cash flow. Chevron's downstream assets at Wheatstone gas facility suffer extensive damage due to cyclone
• Negative Sentiment: Chevron warned it may be forced to close California gas plants within a decade under current state policy — a regulatory risk that could reduce refining and power assets in a key domestic market. 'We Won't Be Able To Make It' — After 140 Years In California, Chevron May Have To Close Its Gas Plants

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.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.