Gabelli Funds LLC Increases Stock Holdings in Chevron Corporation $CVX

Key Points

• Gabelli Funds LLC increased its Chevron stake by 3.8% in the fourth quarter, adding 17,850 shares to bring its total to 491,447 shares worth about $74.9 million.
• Insiders have been selling shares, including R. Hewitt Pate and Andrew Benjamin Walz, and company insiders sold 803,570 shares over the last 90 days valued at about $152.0 million.
• Chevron reported mixed quarterly results, with EPS of $1.41 beating estimates but revenue of $47.56 billion missing expectations; the company also declared a $1.78 quarterly dividend yielding about 3.7%.

Gabelli Funds LLC increased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 491,447 shares of the oil and gas company's stock after buying an additional 17,850 shares during the quarter. Gabelli Funds LLC's holdings in Chevron were worth $74,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Strategic Wealth Advisors LLC purchased a new stake in Chevron during the 4th quarter valued at about $33,000. Daytona Street Capital LLC purchased a new stake in Chevron during the 4th quarter valued at about $44,000. Maseco LLP purchased a new stake in Chevron during the 4th quarter valued at about $49,000. Turning Point Benefit Group Inc. purchased a new stake in Chevron during the 3rd quarter valued at about $49,000. Finally, High Point Wealth Management LLC purchased a new stake in Chevron during the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insiders Place Their Bets

In other news, insider R. Hewitt Pate sold 58,000 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $188.65, for a total value of $10,941,700.00. Following the transaction, the insider owned 8,558 shares in the company, valued at $1,614,466.70. This trade represents a 87.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Andrew Benjamin Walz sold 11,600 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $188.58, for a total value of $2,187,528.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 803,570 shares of company stock valued at $151,969,798. 0.56% of the stock is owned by corporate insiders.

Chevron Stock Performance

Shares of CVX stock opened at $190.91 on Monday. The company has a market capitalization of $380.22 billion, a P/E ratio of 33.09, a P/E/G ratio of 0.64 and a beta of 0.51. The business's 50 day moving average is $193.14 and its two-hundred day moving average is $173.38. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12-month low of $133.77 and a 12-month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.Chevron's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.18 earnings per share. Analysts expect that Chevron Corporation will post 15.43 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be given a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, May 19th. Chevron's dividend payout ratio (DPR) is 123.40%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. 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. Mizuho boosted their price target on Chevron from $206.00 to $217.00 and gave the company an "outperform" rating in a research note on Tuesday, March 17th. TD Cowen upped their target price on Chevron from $204.00 to $205.00 and gave the stock a "hold" rating in a research note on Friday, May 8th. Argus set a $203.00 target price on Chevron in a research note on Tuesday, February 3rd. Finally, Bank of America upped their target price on Chevron from $188.00 to $206.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $204.13.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell its Singapore refining stake and other Asia-Pacific downstream assets to ENEOS for roughly $2.17 billion, reinforcing its strategy to streamline the portfolio and potentially improve returns. Reuters article on ENEOS buying Chevron assets
• Positive Sentiment: Another report framed Chevron’s recent earnings as less weak than the headline numbers suggested, noting that the company’s share price did not fall sharply after the results, which may indicate investors are focusing on underlying cash generation and strategic actions rather than the revenue miss. Yahoo Finance article on Chevron earnings
• Neutral Sentiment: Market commentary this week also compared Chevron with TotalEnergies and discussed broader oil-sector themes, but those pieces were more about sector positioning than a direct new fundamental change for Chevron. Motley Fool comparison article
• Negative Sentiment: Chevron’s latest quarter was mixed, with earnings per share beating estimates but revenue coming in below expectations, which could temper enthusiasm if investors refocus on operating performance rather than asset sales. Chevron stock background

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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