Grandfield & Dodd LLC Takes Position in Chevron Corporation $CVX

Key Points

• Grandfield & Dodd LLC acquired 116,669 Chevron shares worth approximately $19.3 million in the second quarter. Institutional investors collectively own 72.42% of Chevron’s outstanding stock.
• Chevron insiders have been selling shares, including CEO Michael Wirth’s sale of 317,100 shares for about $63.6 million, reducing his reported holdings by 92.34%. Insiders sold more than 1.1 million shares worth roughly $222 million over the past 90 days.
• Chevron reported quarterly earnings of $6.06 per share, exceeding estimates, while revenue rose 57.4% year over year to $67.2 billion. The company declared a quarterly dividend of $1.78 per share, equivalent to a 3.5% annualized yield, and analysts maintain a consensus “Moderate Buy” rating with a $207.13 price target.

Grandfield & Dodd LLC purchased a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 116,669 shares of the oil and gas company's stock, valued at approximately $19,339,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Chevron in the second quarter worth $25,663,729,000. State Street Corp increased its holdings in Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock worth $23,698,184,000 after buying an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc increased its holdings in Chevron by 6.6% in the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock worth $19,837,131,000 after buying an additional 8,091,570 shares in the last quarter. Geode Capital Management LLC raised its position in Chevron by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company's stock worth $6,620,187,000 after buying an additional 134,890 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Chevron by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company's stock worth $5,492,377,000 after buying an additional 961,341 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director John B. Hess sold 100,000 shares of Chevron stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the transaction, the director owned 178,045 shares in the company, valued at $34,587,021.70. This trade represents a 35.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 317,100 shares of Chevron stock in a transaction on Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the transaction, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. This represents a 92.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,133,312 shares of company stock valued at $221,969,232. 0.56% of the stock is owned by corporate insiders.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reported an oil and gas condensate discovery at the 105-4X exploration well in offshore Angola’s Block 0. The well encountered a hydrocarbon column exceeding 600 meters, with more than 90 meters of net pay; its proximity to existing infrastructure could enable a lower-cost tie-back and support future production growth. Chevron finds oil, gas condensate offshore Angola
• Positive Sentiment: Equinor agreed to acquire a 17.4% interest in Chevron-operated petroleum exploration licence PEL 90 offshore Namibia. The deal brings a major partner into the Orange Basin, helps share exploration costs and supports plans to drill during 2026 while Chevron retains operatorship. Norway's Equinor takes stake in Chevron Namibia exploration licence
• Positive Sentiment: Unusually heavy call-option activity indicated increased bullish interest in CVX, with 62,675 calls purchased—about 45% above average daily volume.
• Neutral Sentiment: Recent investor commentary continues to highlight Chevron’s appeal as a reliable dividend stock, but energy-sector income and valuation remain sensitive to oil and natural-gas prices.
• Negative Sentiment: CEO Michael Wirth sold 317,100 shares for approximately $63.6 million, reducing his reported ownership by 92.34%. While insider sales can be scheduled or personal, the size of the transaction may weigh on sentiment. Chevron CEO Form 4 filing
• Negative Sentiment: A retreat in oil prices pressured the stock by reducing the near-term outlook for upstream revenue and cash flow, partially offsetting the benefit of Chevron’s exploration news. Chevron Corporation drops as oil price retreats

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVX. Piper Sandler began coverage on shares of Chevron in a report on Thursday, July 23rd. They set an "overweight" rating and a $207.00 price target on the stock. Sanford C. Bernstein boosted their price objective on shares of Chevron from $204.00 to $209.00 and gave the company a "market perform" rating in a report on Monday, August 3rd. Zacks Research cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Barclays lowered their price objective on shares of Chevron from $216.00 to $208.00 and set an "equal weight" rating on the stock in a research report on Monday. Finally, TD Cowen raised their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a "hold" rating in a report on Wednesday, August 5th. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $207.13.

Chevron Stock Up 1.5%

CVX stock opened at $205.77 on Wednesday. The business's 50-day moving average is $183.95 and its two-hundred day moving average is $187.50. The company has a market cap of $406.55 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 0.61 and a beta of 0.49. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same quarter in the prior year, the firm earned $1.77 EPS. The business's revenue for the quarter was up 57.4% compared to the same quarter last year. As a group, analysts forecast that Chevron Corporation will post 15.86 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, August 19th. Chevron's payout ratio is 68.26%.

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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