Income Insurance Ltd Makes New $913,000 Investment in Chevron Corporation $CVX

Key Points

• Income Insurance Ltd opened a new position in Chevron during the fourth quarter, buying 5,992 shares valued at about $913,000.
• Chevron continues to attract institutional and analyst attention, with hedge funds owning 72.42% of the stock and Wall Street maintaining a Moderate Buy consensus target of $202.74.
• The company reported Q1 EPS of $1.41, beating estimates, but revenue fell short of expectations; Chevron also declared a quarterly dividend of $1.78 per share, implying a 3.9% annualized yield.

Income Insurance Ltd bought a new position in Chevron Corporation (NYSE:CVX - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 5,992 shares of the oil and gas company's stock, valued at approximately $913,000.

A number of other hedge funds have also recently made changes to their positions in the stock. D.B. Root & Company LLC lifted its stake in shares of Chevron by 1.0% during the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company's stock worth $846,000 after purchasing an additional 57 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Chevron by 6.8% during the 4th quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company's stock worth $142,000 after purchasing an additional 59 shares during the last quarter. MMA Asset Management LLC lifted its stake in shares of Chevron by 3.4% during the 4th quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company's stock worth $277,000 after purchasing an additional 59 shares during the last quarter. EWA LLC lifted its stake in shares of Chevron by 2.8% during the 4th quarter. EWA LLC now owns 2,182 shares of the oil and gas company's stock worth $333,000 after purchasing an additional 59 shares during the last quarter. Finally, Barlow Wealth Partners LLC lifted its stake in shares of Chevron by 1.1% during the 4th quarter. Barlow Wealth Partners LLC now owns 5,363 shares of the oil and gas company's stock worth $869,000 after purchasing an additional 60 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, insider R. Hewitt Pate sold 58,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John B. Hess sold 195,000 shares of the firm's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $184.78, for a total value of $36,032,100.00. Following the completion of the transaction, the director owned 658,045 shares of the company's stock, valued at approximately $121,593,555.10. The trade was a 22.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 816,439 shares of company stock worth $154,339,900 over the last three months. Corporate insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

CVX has been the subject of a number of analyst reports. Scotiabank upped their price objective on Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group restated a "buy" rating and set a $216.00 price objective on shares of Chevron in a research note on Wednesday. Argus set a $203.00 price objective on Chevron in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. upgraded Chevron from a "neutral" rating to an "overweight" rating and set a $176.00 price objective for the company in a research note on Tuesday, January 20th. Finally, Morgan Stanley upped their price objective on Chevron from $174.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $202.74.

Chevron Trading Down 0.6%

Chevron stock opened at $181.37 on Friday. The stock has a 50-day moving average of $193.21 and a two-hundred day moving average of $172.09. 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 Corporation has a one year low of $133.77 and a one year high of $214.71. The stock has a market cap of $361.35 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 7.01% and a net margin of 5.79%.The firm's revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $2.18 earnings per share. On average, research analysts anticipate that Chevron Corporation will post 15.02 EPS for the current fiscal year.

Chevron Announces Dividend

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

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s first-quarter results beat profit expectations, with adjusted EPS of $1.41 versus the $0.97 consensus, reinforcing the company’s ability to generate earnings even amid volatile energy markets. Chevron (CVX) Reports Q1 Earnings: What Key Metrics Have to Say
• Positive Sentiment: Goldman Sachs raised its price target on Chevron and kept a Buy rating, citing improved confidence in cash flow, production, and shareholder return plans after the earnings report. Goldman Sachs gives Chevron stock price new target after earnings
• Positive Sentiment: Multiple research notes and articles highlighted Chevron as a dividend aristocrat and a long-term value play, which can support investor interest in the stock. 3 ‘Strong Buy’ Dividend Aristocrat Stocks, 5/8/26
• Positive Sentiment: TD Cowen nudged its price target higher to $205 while maintaining a Hold rating, and Erste Group also lifted its FY2027 earnings estimate, signaling still-constructive expectations for Chevron’s earnings outlook. Chevron estimate and target updates
• Neutral Sentiment: Analysts and commentary also pointed to Chevron’s LNG strategy and South Asian export growth as a longer-term earnings driver, but this is more of a strategic backdrop than an immediate catalyst. Can Chevron's South Asian LNG Strategy Drive Long-Term Growth?
• Negative Sentiment: Despite the earnings beat, Chevron’s revenue came in below Wall Street estimates, which may be tempering enthusiasm and contributing to the stock’s weakness. Chevron (CVX) Reports Q1 Earnings: What Key Metrics Have to Say

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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