Ninety One UK Ltd Increases Stake in Chevron Corporation $CVX

Key Points

• Ninety One UK Ltd increased its stake in Chevron by 12.8% in Q4, buying 47,473 shares to hold 417,646 shares valued at $63.65 million; institutional investors now own 72.42% of the company.
• Analyst sentiment is broadly positive with a MarketBeat consensus of "Moderate Buy" and an average price target of $194.21, and several firms recently raised targets into the $212–$220 range (e.g., RBC $220, Mizuho $217, Morgan Stanley $212).
• Chevron raised its quarterly dividend to $1.78 (annualized $7.12) for a yield of 3.9%, but the payout ratio is high at 106.91%, and insiders have sold about 779,407 shares (~$146.0M) in the last 90 days.

Ninety One UK Ltd grew its stake in Chevron Corporation (NYSE:CVX - Free Report) by 12.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 417,646 shares of the oil and gas company's stock after buying an additional 47,473 shares during the quarter. Ninety One UK Ltd's holdings in Chevron were worth $63,653,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Decker Retirement Planning Inc. purchased a new position in shares of Chevron in the 3rd quarter valued at about $34,000. Marquette Asset Management LLC purchased a new stake in Chevron during the third quarter worth approximately $41,000. Barnes Dennig Private Wealth Management LLC lifted its stake in Chevron by 306.1% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company's stock worth $42,000 after purchasing an additional 202 shares during the last quarter. Daytona Street Capital LLC purchased a new stake in Chevron during the fourth quarter worth approximately $44,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in Chevron during the third quarter worth approximately $49,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVX. Argus set a $203.00 target price on Chevron in a research note on Tuesday, February 3rd. BNP Paribas Exane upgraded Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 target price for the company in a research note on Friday. Mizuho boosted their target price on Chevron from $206.00 to $217.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 17th. Royal Bank Of Canada boosted their target price on Chevron from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, April 13th. Finally, Morgan Stanley boosted their target price 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, seventeen have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, Chevron has a consensus rating of "Moderate Buy" and an average price target of $194.21.

Chevron Trading Down 2.2%

CVX opened at $184.08 on Friday. The firm has a market cap of $366.74 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 1.20 and a beta of 0.60. Chevron Corporation has a 52 week low of $132.33 and a 52 week high of $214.71. The business's 50 day moving average is $192.34 and its two-hundred day moving average is $168.96. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX - Get Free Report) last released 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. The company had revenue of $45.79 billion for the quarter, compared to analyst estimates of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The firm's revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.06 earnings per share. On average, research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were issued a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This is an increase from Chevron's previous quarterly dividend of $1.71. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. Chevron's dividend payout ratio is presently 106.91%.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: High yield and income appeal — Coverage highlights Chevron as a top dividend stock and notes very attractive forward yields for early buyers, supporting investor demand for income. Read More.
• Positive Sentiment: Strong balance sheet and capital resilience — Analysts and commentary rank Chevron just behind Exxon on financial strength, suggesting it can withstand oil‑price swings and sustain buybacks/dividends. Read More.
• Positive Sentiment: Buy‑the‑dip sentiment and options trade ideas — Several outlets and services are pitching CVX as a tactical buy after the pullback, which could attract short‑term dip buyers. Read More.
• Positive Sentiment: Hess acquisition seen as strategically accretive — Analysis argues the $53B Hess deal may have been timed well and should add production and cash flow over time, supporting long‑term upside. Read More.
• Neutral Sentiment: Peer comparison — A note compares Petrobras and Chevron, highlighting Petrobras’ growth edge; useful for investors weighing growth vs stability but not an immediate catalyst. Read More.
• Neutral Sentiment: Regulatory/bill developments — The House passed H.R. 6409 relating to foreign emissions treatment; impact on Chevron is uncertain and longer‑term if enacted. Read More.
• Negative Sentiment: Immediate oil‑price shock and Strait reopening — Markets rallied broadly but oil prices fell after the Strait of Hormuz reopened, prompting a pullback in oil majors including Chevron. Read More.
• Negative Sentiment: Analyst downgrade and short‑term selling — A reported analyst downgrade contributed to yesterday’s slide and continues to pressure the name amid lower oil. Read More.
• Negative Sentiment: Headline risk from Iran war developments — Commentary notes that signs the Iran‑driven risk premium is easing (or the war ending) reduced the war‑related premium that had boosted CVX, producing volatility. Read More.

Insiders Place Their Bets

In other news, CFO Eimear P. Bonner sold 32,100 shares of the business's stock in a transaction that occurred on Friday, January 30th. The stock was 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 approximately $764,093.66. The trade was a 88.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew Benjamin Walz sold 22,200 shares of the business's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $176.53, for a total value of $3,918,966.00. Following the completion of the transaction, the insider directly owned 666 shares in the company, valued at approximately $117,568.98. The trade was a 97.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 779,407 shares of company stock valued at $145,972,971. 0.21% of the stock is owned by company insiders.

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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