Maple Capital Management Inc. Boosts Holdings in Chevron Corporation $CVX

Key Points

• Maple Capital Management Inc. raised its stake in Chevron by 3.3% in Q3, adding 5,693 shares to hold 176,017 shares worth $27.334 million, making CVX about 1.8% of the fund and its 20th-largest holding.
• Chevron increased its quarterly dividend to $1.78 (annualized $7.12) for a ~3.6% yield, though the dividend payout ratio is elevated at 106.91%.
• Insider selling has been substantial: CEO Michael K. Wirth sold 320,700 shares and CFO Eimear P. Bonner sold 32,100 shares, with insiders offloading about 1,099,397 shares (~$196.2 million) in the past 90 days.

Maple Capital Management Inc. lifted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 3.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 176,017 shares of the oil and gas company's stock after acquiring an additional 5,693 shares during the quarter. Chevron accounts for about 1.8% of Maple Capital Management Inc.'s holdings, making the stock its 20th biggest holding. Maple Capital Management Inc.'s holdings in Chevron were worth $27,334,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in 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 worth $28,540,753,000 after purchasing an additional 27,961,463 shares during the last quarter. State Street Corp grew its stake in shares of Chevron by 9.1% during the third 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 during the last quarter. Berkshire Hathaway Inc grew its stake in shares of Chevron by 2.9% during the second quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company's stock valued at $17,478,458,000 after buying an additional 3,454,258 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Chevron by 4.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company's stock worth $4,979,255,000 after buying an additional 1,342,723 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Chevron by 15.3% in the 3rd 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 acquiring an additional 3,007,403 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CVX. Morgan Stanley dropped their target price on Chevron from $180.00 to $174.00 and set an "overweight" rating for the company in a report on Friday, January 23rd. Bank of America boosted their price objective on Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. Freedom Capital lowered Chevron from a "hold" rating to a "strong sell" rating in a research note on Tuesday, January 6th. Sanford C. Bernstein raised their target price on shares of Chevron from $170.00 to $172.00 and gave the stock a "market perform" rating in a report on Monday, January 5th. Finally, Wall Street Zen raised shares of Chevron from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $183.18.

Chevron Stock Up 0.6%

Shares of NYSE:CVX opened at $197.97 on Wednesday. The stock's 50-day moving average is $178.82 and its 200 day moving average is $162.60. The company has a market cap of $395.02 billion, a PE ratio of 29.73, a P/E/G ratio of 1.82 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $200.58.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.08. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The business had revenue of $45.79 billion during the quarter, compared to analysts' expectations of $48.18 billion. During the same quarter last year, the business posted $2.06 EPS. The business's revenue was down 10.2% on a year-over-year basis. Sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.6%. This is an increase from Chevron's previous quarterly dividend of $1.71. The ex-dividend date was Tuesday, February 17th. Chevron's dividend payout ratio (DPR) is presently 106.91%.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 320,700 shares of Chevron stock in a transaction on Monday, January 5th. The stock was sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the completion of the transaction, the chief executive officer owned 14,450 shares in the company, valued at approximately $2,355,205.50. The trade was a 95.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Eimear P. Bonner sold 32,100 shares of Chevron stock in a transaction on Friday, January 30th. The shares were sold at an average price of $175.01, for a total value of $5,617,821.00. Following the transaction, the chief financial officer owned 4,366 shares of the company's stock, valued at $764,093.66. The trade was a 88.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,099,397 shares of company stock worth $196,196,468 in the last 90 days. Corporate insiders own 0.20% of the company's stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is reportedly in advanced negotiations to acquire a 30% stake in Ultrapar’s Ipiranga unit, expanding its retail and fuel-market footprint in Brazil — a strategic growth move in a large, high-margin market. Chevron in Advanced Negotiations to Buy 30% Stake in Ipiranga
• Positive Sentiment: Mizuho raised its price target on CVX to $217 and assigned an “outperform” rating, signaling institutional confidence and providing upside thesis support for the stock. Mizuho price target raise
• Positive Sentiment: WTI and Brent oil prices rose amid doubts about a U.S.-led coalition to secure Strait of Hormuz shipping, which typically benefits large integrated oil names like Chevron through higher commodity realizations. Oil jumps over 2%
• Positive Sentiment: Chevron awarded a FEED contract for the Aphrodite gas field in Cyprus, advancing its Eastern Mediterranean gas development pipeline and long-term production optionality. Chevron Advances Cyprus' Aphrodite Gas Field Development
• Neutral Sentiment: Coverage pieces note Chevron’s size as a large dividend payer and buyback issuer, reinforcing its appeal to income-focused investors but not a near-term price catalyst on its own. Does Chevron pay dividends?
• Neutral Sentiment: Wider market commentary highlights volatility from the Middle East conflict; this creates both upside from higher oil and downside risk from disrupted trade—mixed for CVX. Market Chatter
• Negative Sentiment: Chevron agreed to pay just over $1M and retire ~2M renewable fuel credits to settle alleged violations under the Renewable Fuel Standard — a modest financial hit but a regulatory / compliance headline. Chevron Hit With $1 Million Penalty
• Negative Sentiment: WSJ reporting on CIA dealings with an ex-Chevron executive raises reputational questions around industry-government ties; potential PR and oversight risks could concern some investors. Takeaways From WSJ Reporting
• Negative Sentiment: Barclays’ price-target move to $180 with an “equal weight” rating implies limited near-term upside from that shop’s view and contrasts with the more bullish Mizuho call — adding conflicting analyst signals. Barclays price target change

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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