Gabelli Funds LLC Acquires 143,247 Shares of Chevron Corporation $CVX

Key Points

• Gabelli Funds LLC increased its Chevron stake by 43.4%, buying 143,247 shares in Q3 to hold 473,597 shares worth $73.545 million.
• Insiders have been net sellers: CEO Michael Wirth sold 320,700 shares (~$52.27 million) and insiders disposed of 1,052,197 shares totaling about $187.13 million over the last three months.
• Dividend increase: Chevron raised its quarterly payout to $1.78 (annualized $7.12), a yield of 3.7% with a payout ratio around 106.9%.

Gabelli Funds LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 43.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 473,597 shares of the oil and gas company's stock after purchasing an additional 143,247 shares during the period. Gabelli Funds LLC's holdings in Chevron were worth $73,545,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position 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 acquiring an additional 27,961,463 shares during the period. Berkshire Hathaway Inc increased its position in Chevron by 2.9% during the second quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company's stock worth $17,478,458,000 after acquiring an additional 3,454,258 shares during the period. Charles Schwab Investment Management Inc. increased its position in Chevron by 4.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company's stock worth $4,979,255,000 after acquiring an additional 1,342,723 shares during the period. Fisher Asset Management LLC raised its stake in Chevron by 1.6% during the 3rd quarter. Fisher Asset Management LLC now owns 21,152,060 shares of the oil and gas company's stock valued at $3,284,704,000 after purchasing an additional 325,255 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings 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 purchasing an additional 4,279,918 shares during the period. Institutional investors own 72.42% of the company's stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: U.S. launches $20B tanker reinsurance program, supporting crude above $90 and reducing shipping-risk premium — higher crude prices improve Chevron’s upstream margins and cash flow. Read More.
• Positive Sentiment: Analysts and institutions are increasingly bullish: several firms have raised price targets (one recent note pushes target toward $210), reflecting confidence in Chevron’s cash returns and dividend profile — this supports buy-side interest. Read More.
• Positive Sentiment: Dividend raise and income story remain supportive — Chevron recently increased its quarterly payout, reinforcing its appeal to income-focused investors amid higher commodity prices. Read More.
• Neutral Sentiment: Mixed analyst landscape: while some firms lift targets, others trim fair-value estimates — consensus remains split (buys, holds, sells), which can limit sustained momentum despite positive headlines. Read More.
• Negative Sentiment: Significant insider selling: CEO Michael Wirth and other senior execs disclosed multi‑million‑dollar stock sales in early March — this often prompts near‑term caution and profit‑taking. Read More.
• Negative Sentiment: Operational disruption: Chevron has suspended certain production (e.g., Leviathan-related outages / force majeure reports) tied to regional hostilities — potential near-term volume losses and uncertainty for specific assets. Read More.
• Negative Sentiment: Broader geopolitical volatility (Strait of Hormuz attacks and halted tanker traffic) raises supply‑and‑policy risk that can cause sharp swing trading and higher insurance/shipment costs — a double‑edged sword for oil majors. Read More.

Insider Transactions at Chevron

In related news, insider Andrew Benjamin Walz sold 22,200 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $176.53, for a total value of $3,918,966.00. Following the completion of the transaction, the insider owned 666 shares of the company's stock, valued at $117,568.98. This represents a 97.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael K. Wirth sold 320,700 shares of Chevron stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 14,450 shares in the company, valued at $2,355,205.50. The trade was a 95.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,052,197 shares of company stock valued at $187,128,404. Corporate insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CVX. Jefferies Financial Group raised their price target on shares of Chevron from $174.00 to $189.00 and gave the stock a "buy" rating in a research report on Wednesday, January 14th. UBS Group reaffirmed a "buy" rating and set a $212.00 price objective on shares of Chevron in a research report on Monday, February 2nd. Argus set a $203.00 target price on shares of Chevron in a research note on Tuesday, February 3rd. Melius Research raised Chevron from a "hold" rating to a "buy" rating and set a $205.00 target price on the stock in a research report on Tuesday, February 17th. Finally, Morgan Stanley lowered their price target on Chevron from $180.00 to $174.00 and set an "overweight" rating on the stock in a research note on Friday, January 23rd. Thirteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $178.95.

Chevron Trading Up 0.1%

Shares of Chevron stock opened at $190.01 on Friday. The firm has a market capitalization of $379.14 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 1.91 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. The company's fifty day moving average price is $173.38 and its two-hundred day moving average price is $160.73. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $192.41.

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. 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 analysts' expectations of $48.18 billion. During the same quarter in the prior year, the company posted $2.06 EPS. The business's revenue was down 10.2% on a year-over-year basis. On average, analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be paid a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This is an increase from Chevron's previous quarterly dividend of $1.71. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. Chevron's payout ratio is presently 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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