Massachusetts Financial Services Co. MA Cuts Stock Position in Chevron Corporation $CVX

Key Points

• Massachusetts Financial Services Co. cut its stake in Chevron by 17.1% in Q4, selling 1,557,877 shares and now holds 7,567,858 shares (~0.38% of the company) valued at about $1.153 billion.
• Company insiders have sold aggressively recently — a total of 782,607 shares worth roughly $146.5 million in the last three months — while hedge funds and other institutions own about 72.42% of Chevron.
• Chevron raised its quarterly dividend to $1.78 (annualized $7.12), yielding ~3.8%, with a dividend payout ratio of approximately 106.91%.

Massachusetts Financial Services Co. MA cut its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 17.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,567,858 shares of the oil and gas company's stock after selling 1,557,877 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.38% of Chevron worth $1,153,417,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Decker Retirement Planning Inc. purchased a new stake in shares of Chevron in the third quarter valued at approximately $34,000. Marquette Asset Management LLC purchased a new stake in shares of Chevron in the third quarter valued at approximately $41,000. Barnes Dennig Private Wealth Management LLC increased its position in shares of Chevron by 306.1% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company's stock valued at $42,000 after buying an additional 202 shares in the last quarter. Daytona Street Capital LLC purchased a new stake in shares of Chevron in the fourth quarter valued at approximately $44,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in shares of Chevron in the third quarter valued at approximately $49,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Confirmed oil discovery at the Bandit prospect in the Gulf of America bolsters Chevron's deepwater growth optionality and potential future production/tie‑back opportunities. Chevron Confirms Major Oil Discovery in the Gulf of America
• Positive Sentiment: Short interest fell materially in March (down ~14.5% to ~21.0M shares; days‑to‑cover ~1.3), reducing one potential source of near‑term downside pressure.
• Positive Sentiment: Chevron approved the ~$690M Aseng gas project, strengthening its LNG growth profile and future cash‑flow diversification. Chevron Approves $690M Aseng Gas Project to Boost LNG Supply
• Neutral Sentiment: Street estimates are split: some reports forecast a Q1 upstream boost (+$1.6B–$2.2B) from higher oil/gas prices, supporting earnings upside if prices hold. Chevron forecasts up to $2.2 bln boost to upstream earnings from higher prices in Q1
• Neutral Sentiment: Analysts warn Q1 will be "noisy" with offsetting forces (price tailwinds vs hedging/volatility); the report due May 1 is a likely catalyst. Chevron Q1 Earnings Will Be 'Noisy' As Headwinds Reverse To Tailwinds: Analyst
• Negative Sentiment: Chevron warned that Middle East volatility and related effects (including hedging) could hit Q1 earnings and cash flow materially — management cited an adverse impact in the multi‑billion‑dollar range, prompting UBS to cut near‑term forecasts. Chevron flags multi-billion-dollar hit from Middle East volatility
• Negative Sentiment: Public commentary highlights hedging risks and potential earnings drag from geopolitical disruptions, adding downside risk to near‑term prints. Chevron sees Iran war oil boost, warns hedging to weigh
• Negative Sentiment: Wall Street previews suggest EPS could be down double digits in Q1 absent favorable price offsets, increasing the chance of volatile reaction at the report. Chevron's Quarterly Earnings Preview: What You Need to Know

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CVX shares. Freedom Capital cut Chevron from a "hold" rating to a "strong sell" rating in a research report on Tuesday, January 6th. 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 report on Tuesday, January 20th. Melius Research upgraded Chevron from a "hold" rating to a "buy" rating and set a $205.00 price objective for the company in a research report on Tuesday, February 17th. Tudor Pickering upgraded Chevron from a "hold" rating to a "buy" rating and set a $225.00 price target for the company in a research report on Thursday. Finally, Piper Sandler boosted their price target on Chevron from $179.00 to $242.00 and gave the stock an "overweight" rating in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Chevron currently has a consensus rating of "Moderate Buy" and an average target price of $190.04.

Chevron Stock Down 0.9%

Shares of CVX opened at $188.57 on Friday. 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 $132.04 and a one year high of $214.71. The stock has a market capitalization of $375.68 billion, a price-to-earnings ratio of 28.31, a PEG ratio of 1.41 and a beta of 0.60. The stock has a 50 day moving average price of $191.51 and a 200 day moving average price of $167.98.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS 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 firm had revenue of $45.79 billion during the quarter, compared to analysts' expectations of $48.18 billion. During the same period in the previous year, the business earned $2.06 earnings per share. The firm's revenue for the quarter was down 10.2% on a year-over-year basis. Equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. This is an increase from Chevron's previous quarterly dividend of $1.71. The ex-dividend date of this dividend was Tuesday, February 17th. Chevron's dividend payout ratio is presently 106.91%.

Insider Activity at Chevron

In other Chevron news, CFO Eimear P. Bonner sold 32,100 shares of the business's stock in a transaction on Friday, January 30th. The stock was sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the transaction, the chief financial officer owned 4,366 shares of the company's stock, valued at approximately $764,093.66. The trade was a 88.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider R. Hewitt Pate sold 58,000 shares of the business's stock in a transaction on 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 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 782,607 shares of company stock valued at $146,510,571 in the last three months. Company insiders own 0.21% of the company's stock.

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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