Lazard Asset Management LLC Buys 8,662 Shares of Chevron Corporation $CVX

Key Points

• Lazard Asset Management increased its Chevron stake by 4.4% in the first quarter, adding 8,662 shares for a total of 203,477 shares valued at approximately $42.1 million. Institutional investors collectively own 72.42% of Chevron.
• Director John B. Hess sold 380,000 shares for about $73.4 million, reducing his direct position by 57.75%; company insiders now own 0.56% of the stock.
• Chevron’s shares opened at $187.70, while analysts maintain a “Moderate Buy” consensus with an average price target of $206.04. The company exceeded first-quarter EPS expectations, though lower oil prices and geopolitical developments remain risks to its outlook.

Lazard Asset Management LLC lifted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 203,477 shares of the oil and gas company's stock after purchasing an additional 8,662 shares during the period. Lazard Asset Management LLC's holdings in Chevron were worth $42,099,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Curtis Advisory Group LLC purchased a new position in shares of Chevron during the fourth quarter worth approximately $1,381,000. Indivisible Partners purchased a new stake in shares of Chevron in the fourth quarter valued at approximately $1,923,000. Janney Montgomery Scott LLC boosted its holdings in shares of Chevron by 6.8% in the first quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company's stock valued at $258,853,000 after purchasing an additional 79,439 shares during the period. Galaxy Digital Inc. bought a new position in Chevron in the first quarter worth approximately $2,028,000. Finally, Nations Financial Group Inc. IA ADV grew its stake in Chevron by 35.0% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 42,882 shares of the oil and gas company's stock worth $6,536,000 after purchasing an additional 11,120 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Insider Buying and Selling

In other news, Director John B. Hess sold 380,000 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company's stock.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron raised its quarterly dividend, extending its decades-long record of dividend increases. The move reinforces the company’s appeal to income-focused investors and signals confidence in cash-flow generation. Chevron Lifts Quarterly Dividend
• Positive Sentiment: Chevron is evaluating opportunities in Iraq’s large oil fields and export infrastructure, potentially expanding its upstream presence in a major producing region. Chevron Returns to Iraq
• Positive Sentiment: A Chevron subsidiary awarded a roughly $51 million, multiyear drilling contract for Malaysia’s North Malay Basin gas development. The project supports longer-term production growth, although its immediate earnings impact is likely limited. Chevron Signs North Malay Basin Contract
• Neutral Sentiment: Analysts and fund commentary remain constructive on Chevron’s ability to benefit from elevated commodity prices, but investors are focused on whether second-quarter results and management guidance can support the stock near its buy point. Pre-Q2 Earnings: Is Chevron Stock a Buy, Hold, or Sell?
• Neutral Sentiment: Chief Executive Mike Wirth met with U.S. officials about protecting Chevron’s Kazakhstan assets, highlighting the strategic importance of the operations while also underscoring geopolitical and regulatory exposure. Chevron Meets U.S. Officials Over Kazakhstan Assets
• Negative Sentiment: Crude prices fell sharply after President Trump indicated possible negotiations with Iran, reducing geopolitical supply-risk premiums. Brent and West Texas Intermediate declines pulled the broader energy sector lower and directly pressured Chevron’s near-term earnings outlook. Oil Prices Slide as Trump Touts Possible Negotiations With Iran

Chevron Stock Performance

Shares of NYSE:CVX opened at $187.70 on Wednesday. The company has a market capitalization of $373.82 billion, a price-to-earnings ratio of 32.53, a price-to-earnings-growth ratio of 0.63 and a beta of 0.50. Chevron Corporation has a 52 week low of $146.49 and a 52 week 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 firm has a 50 day moving average of $181.80 and a 200 day moving average of $184.43.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion for the quarter, compared to analysts' expectations of $51.86 billion. During the same quarter last year, the firm earned $2.18 EPS. The business's revenue for the quarter was up 2.1% on a year-over-year basis. On average, sell-side analysts predict that Chevron Corporation will post 15.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CVX shares. Wells Fargo & Company lifted their target price on Chevron from $204.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Royal Bank Of Canada reissued an "outperform" rating and set a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. BNP Paribas Exane upgraded Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price target on the stock in a research note on Friday, April 17th. Sanford C. Bernstein decreased their price objective on Chevron from $216.00 to $204.00 and set a "market perform" rating for the company in a report on Monday, May 11th. Finally, Mizuho upped their price objective on shares of Chevron from $225.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $206.04.

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.

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