Miller Howard Investments Inc. NY Sells 10,821 Shares of Chevron Corporation $CVX

Key Points

• Miller Howard Investments cut its stake in Chevron by 50.5% in the 4th quarter, selling 10,821 shares and leaving 10,601 shares valued at about $1.62 million.
• Heavy insider selling has occurred recently—CEO Michael K. Wirth sold 272,624 shares (~$51.6M) and insiders sold 779,407 shares (~$146M) over the last 90 days, leaving insiders with 0.56% ownership.
• Dividend and analyst outlook: Chevron raised its quarterly dividend to $1.78 ($7.12 annual, ~3.9% yield), and Wall Street has a consensus "Moderate Buy" rating with an average price target of $194.21.

Miller Howard Investments Inc. NY cut its position in Chevron Corporation (NYSE:CVX - Free Report) by 50.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,601 shares of the oil and gas company's stock after selling 10,821 shares during the quarter. Miller Howard Investments Inc. NY's holdings in Chevron were worth $1,616,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CVX. Vanguard Group Inc. raised its stake in shares of 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 valued at $28,540,753,000 after buying an additional 27,961,463 shares during the period. State Street Corp raised its stake in shares of Chevron by 9.1% during the 3rd 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 purchasing an additional 12,789,399 shares during the period. Primecap Management Co. CA bought a new stake in shares of Chevron during the 3rd quarter valued at $988,083,000. Bank of New York Mellon Corp raised its stake in shares of Chevron by 27.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company's stock valued at $3,047,900,000 after purchasing an additional 4,279,918 shares during the period. Finally, Amundi raised its stake in shares of Chevron by 41.8% during the 3rd quarter. Amundi now owns 11,760,376 shares of the oil and gas company's stock valued at $1,811,333,000 after purchasing an additional 3,464,058 shares during the period. 72.42% of the stock is currently owned by institutional investors.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices and renewed geopolitical tensions have lifted energy-sector sentiment, supporting Chevron's near-term earnings outlook and fueling demand for oil majors. What's Going On With Chevron Stock On Monday?
• Positive Sentiment: Longer-term upside from global repositioning: Chevron is accelerating exploration and drilling outside the Middle East (including expanded activity in Venezuela and other regions), which could create material value if projects succeed. Big Oil Plows Billions Into Far-Flung Drilling Sites to Escape Iran Turmoil
• Positive Sentiment: Buy-side / sentiment signals are supportive: recent bullish commentary argues Chevron’s cash flow and earnings power are underappreciated, and short interest has fallen—both reduce downside pressure. Chevron: Current Levels Do Not Fully Capture Earnings Power And Strengthening FCF
• Neutral Sentiment: Operational incident contained: a weekend fire at the Pasadena, TX refinery has been extinguished, limiting sustained production disruption risk but still drawing temporary operational scrutiny. Chevron says weekend fire at Pasadena, Texas, refinery now extinguished
• Neutral Sentiment: Analyst stance stays cautious: Barclays reaffirmed a hold on CVX, signaling steady but not enthusiastic analyst conviction—important for near-term flows but not a directional catalyst. Barclays Reaffirms Their Hold Rating on Chevron (CVX)
• Negative Sentiment: Legal and valuation overhangs persist: multi‑billion-dollar coastal lawsuits and shifting venues (plus other legal risks) remain unresolved and could pressure valuation or result in material liabilities. Chevron Valuation Weighed Against Legal Shifts And Venezuela Opening

Insider Buying and Selling at Chevron

In related news, insider R. Hewitt Pate sold 58,000 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $188.65, for a total transaction 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. The trade was a 87.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 272,624 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the transaction, the chief executive officer owned 31,266 shares of the company's stock, valued at approximately $5,920,217.10. The trade was a 89.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 779,407 shares of company stock valued at $145,972,971 over the last 90 days. Insiders own 0.56% of the company's stock.

Chevron Price Performance

Chevron stock opened at $183.14 on Tuesday. Chevron Corporation has a 52 week low of $132.33 and a 52 week high of $214.71. The business has a 50-day simple moving average of $192.35 and a 200 day simple moving average of $169.37. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21. The stock has a market cap of $364.86 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.18 and a beta of 0.60.

Chevron (NYSE:CVX - Get Free Report) last posted its 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 business 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 was down 10.2% on a year-over-year basis. On average, research analysts forecast that Chevron Corporation will post 10.47 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were given a dividend of $1.78 per share. The ex-dividend date was Tuesday, February 17th. This is a positive change from Chevron's previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a yield of 3.9%. Chevron's dividend payout ratio (DPR) is presently 106.91%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of analyst reports. HSBC upgraded Chevron from a "hold" rating to a "buy" rating and set a $215.00 price objective on the stock in a research note on Friday, March 20th. Morgan Stanley boosted their price objective on Chevron from $174.00 to $212.00 and gave the company an "overweight" rating in a research note on Friday, March 27th. Melius Research upgraded Chevron from a "hold" rating to a "buy" rating and set a $205.00 price objective on the stock in a research note on Tuesday, February 17th. JPMorgan Chase & Co. upgraded Chevron from a "neutral" rating to an "overweight" rating and set a $176.00 price objective on the stock in a research note on Tuesday, January 20th. Finally, UBS Group reiterated a "buy" rating and set a $212.00 price objective on shares of Chevron in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of "Moderate Buy" and an average price target of $194.21.

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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