Gateway Investment Advisers LLC Decreases Position in Chevron Corporation $CVX

Key Points

• Gateway Investment Advisers cut its stake in Chevron by 2.1% in the fourth quarter, selling 8,583 shares and ending the period with 396,374 shares valued at roughly $60.41 million.
• Chevron reported quarterly EPS of $1.41, beating estimates by $0.41, while revenue missed at $48.61 billion versus $51.86 billion expected.
• Chevron declared a quarterly dividend of $1.78 (ex-dividend May 19), or $7.12 annualized with a 3.8% yield, despite a dividend payout ratio of 123.4%.

Gateway Investment Advisers LLC lessened its stake in Chevron Corporation (NYSE:CVX - Free Report) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 396,374 shares of the oil and gas company's stock after selling 8,583 shares during the quarter. Gateway Investment Advisers LLC's holdings in Chevron were worth $60,411,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CVX. Vanguard Group Inc. grew 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 purchasing an additional 27,961,463 shares in the last quarter. State Street Corp grew its holdings in Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock valued at $23,698,184,000 after buying an additional 12,789,399 shares in the last quarter. Northern Trust Corp increased its position in shares of Chevron by 15.3% during the third quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company's stock valued at $3,528,890,000 after buying an additional 3,007,403 shares during the period. Fisher Asset Management LLC increased its position in shares of Chevron by 1.6% during the third 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 buying an additional 325,255 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Chevron by 27.9% in the third quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company's stock worth $3,047,900,000 after buying an additional 4,279,918 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Meeting with U.S. leadership could open Venezuela opportunities — President Trump met with Chevron and ExxonMobil to discuss Venezuela, a development that could help Chevron pursue Venezuelan asset access or sanctions-related arrangements that would boost long‑term production potential. Trump met with Chevron and ExxonMobil to discuss Venezuela
• Positive Sentiment: CEO highlights tightening supply — CEO Mike Wirth warned that Strait of Hormuz disruptions could produce material oil shortages, comments that support higher forward oil prices and improve Chevron’s margin outlook if physical supply tightness persists. Chevron CEO says economies 'are going to have to slow' as Strait of Hormuz closure disrupts oil supply
• Positive Sentiment: Exploration push in the Mediterranean — Chevron is starting hydrocarbon exploration south of Malta, expanding its footprint into a new basin that could add reserve upside and diversify the company’s geography. Chevron expands Mediterranean activities with exploration offshore Malta
• Positive Sentiment: Analyst support — Royal Bank of Canada reaffirmed an “outperform” rating with a $220 price target, offering institutional support that may limit downside during short-term commodity-driven volatility. RBC reaffirms outperform on CVX
• Neutral Sentiment: Proposed Offshore Parity Act could change Gulf leasing dynamics — H.R. 8542 would shift management of certain submerged lands to Gulf states (LA, MS, AL). The bill could alter leasing/royalty regimes for Gulf activity, but outcomes and timing remain uncertain. New Bill: Offshore Parity Act of 2026
• Negative Sentiment: Oil price slide on U.S.–Iran peace hopes pressured energy names — Renewed optimism about a U.S.–Iran deal and reports of a fragile ceasefire reduced risk premia in oil, sending major oil stocks, including Chevron, lower as crude eased from recent highs. Major Oil Stocks Plunge as U.S.-Iran Peace Talks Send Crude Prices Tumbling
• Negative Sentiment: Market reaction to easing Gulf tensions — Coverage noting a possible end to hostilities (Barron’s, Bloomberg live coverage) pushed sector sentiment lower as investors priced in lower forward oil realizations, a direct headwind for CVX’s near-term earnings multiple. Exxon, Chevron, Other Oil Stocks Sink as Market Bets Iran War Will End
• Negative Sentiment: Reputational/political scrutiny in California — Reporting on a Chevron‑funded group running ads over high pump prices may attract regulatory or reputational headaches, a secondary risk for investors tracking ESG and political-exposure headlines. Phony Chevron-Funded Group Blames CA When Chevron's Price Gouging Is Pegged For Run Up At Pump

Chevron Price Performance

CVX stock opened at $185.30 on Thursday. The firm has a market cap of $369.17 billion, a P/E ratio of 32.11, a P/E/G ratio of 0.71 and a beta of 0.51. The firm's fifty day moving average is $193.27 and its 200 day moving average is $171.88. Chevron Corporation has a 52 week low of $133.77 and a 52 week high of $214.71. 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 (NYSE:CVX - Get Free Report) last released its 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. Chevron had a return on equity of 7.01% and a net margin of 5.79%.The company had revenue of $48.61 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the previous year, the company posted $2.18 EPS. Chevron's revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts predict that Chevron Corporation will post 14.15 earnings per share for the current year.

Chevron Announces Dividend

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 issued a $1.78 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. Chevron's dividend payout ratio (DPR) is currently 123.40%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CVX. Zacks Research raised shares of Chevron from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 3rd. The Goldman Sachs Group reissued a "buy" rating and issued a $216.00 price target on shares of Chevron in a report on Wednesday. Bank of America upped their price target on shares of Chevron from $188.00 to $206.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Barclays raised 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, Wells Fargo & Company upped their price objective on shares of Chevron from $204.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $202.70.

Insider Buying and Selling

In related news, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the transaction, the insider directly owned 11,337 shares of the company's stock, valued at $2,130,449.04. The trade was a 92.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew Benjamin Walz sold 11,600 shares of the stock in a transaction 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 621,439 shares of company stock valued at $118,307,800 over the last quarter. Company insiders own 0.56% of the company's stock.

Chevron Company 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.

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.