Geode Capital Management LLC Has $6.62 Billion Position in Chevron Corporation $CVX

Key Points

• Geode Capital Management increased its Chevron stake slightly in the fourth quarter, ending with 43.6 million shares valued at about $6.62 billion, or 2.17% of the company.
• Chevron insiders have been selling shares recently, including director John B. Hess, who sold 380,000 shares for about $73.4 million; insiders have sold a total of 1.18 million shares over the past three months.
• Analysts remain largely positive on Chevron, with multiple firms raising price targets and the consensus rating sitting at Moderate Buy; the company also reported Q1 EPS of $1.41, beating estimates, and declared a quarterly dividend of $1.78 per share.

Geode Capital Management LLC boosted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,613,011 shares of the oil and gas company's stock after purchasing an additional 134,890 shares during the quarter. Geode Capital Management LLC owned 2.17% of Chevron worth $6,620,187,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CVX. Strategic Wealth Advisors LLC acquired a new position in Chevron during the fourth quarter valued at approximately $33,000. Daytona Street Capital LLC acquired a new position in Chevron during the fourth quarter valued at approximately $44,000. Maseco LLP acquired a new position in Chevron during the fourth quarter valued at approximately $49,000. Turning Point Benefit Group Inc. acquired a new position in Chevron during the third quarter valued at approximately $49,000. Finally, High Point Wealth Management LLC acquired a new position in Chevron during the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 380,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider R. Hewitt Pate sold 58,000 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $188.65, for a total transaction of $10,941,700.00. Following the transaction, the insider owned 8,558 shares of the company's stock, valued at $1,614,466.70. The trade was a 87.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,179,699 shares of company stock valued at $224,675,517 in the last three months. 0.56% of the stock is currently owned by insiders.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Mizuho raised its price target on Chevron to $230 and kept an outperform rating, signaling expectations for meaningful upside from current levels.
• Positive Sentiment: RBC Capital and UBS remained bullish after strong Q1 results, reinforcing the view that Chevron’s earnings strength and free cash flow can support the shares.
• Positive Sentiment: New coverage highlighted Chevron as a top high-yield energy name, with analysts emphasizing its dividend appeal and resilience for long-term income investors.
• Positive Sentiment: Chevron shareholders rejected a proposal for an independent board chair, which preserves the company’s current leadership structure and may be seen as a vote of confidence in management. Reuters article
• Neutral Sentiment: Multiple articles continued to frame Chevron as a durable, income-oriented energy stock, but these pieces were mostly commentary rather than new company-specific catalysts.
• Neutral Sentiment: Reports about Chevron’s Mediterranean gas expansion and recent valuation checks suggest long-term growth potential, though they did not provide a fresh short-term catalyst.
• Negative Sentiment: Some market commentary noted that Chevron is already trading at a premium to recent levels, which may be encouraging investors to wait for a better entry point.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CVX shares. Melius Research upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $205.00 price objective for the company in a report on Tuesday, February 17th. Argus set a $203.00 price objective on shares of Chevron in a report on Tuesday, February 3rd. HSBC upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $215.00 price target for the company in a report on Friday, March 20th. Mizuho upped their price target on shares of Chevron from $225.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $190.00 price target on shares of Chevron in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Chevron currently has a consensus rating of "Moderate Buy" and a consensus target price of $205.70.

Chevron Stock Down 1.3%

Chevron stock opened at $182.24 on Thursday. The stock has a market capitalization of $362.95 billion, a PE ratio of 31.58, a price-to-earnings-growth ratio of 0.61 and a beta of 0.51. Chevron Corporation has a twelve month low of $135.21 and a twelve month high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average of $192.89 and a 200-day moving average of $175.45.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to analysts' expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.18 earnings per share. On average, equities research analysts anticipate that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be issued a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.9%. Chevron's dividend payout ratio is presently 123.40%.

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.

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.