Oak Harvest Investment Services Trims Position in Chevron Corporation $CVX

Key Points

• Oak Harvest Investment Services trimmed its stake in Chevron by 15.7%, selling 10,654 shares and leaving it with 57,343 shares valued at about $8.74 million.
• Insiders have been net sellers — Vice Chairman Mark A. Nelson sold 139,600 shares for roughly $26.2 million, and insiders sold 779,407 shares (≈$146.0M) in the last 90 days, with insiders owning just 0.21% of the stock.
• Chevron raised its quarterly dividend to $1.78 (annualized $7.12, yield ~3.9%), while analysts' consensus is a "Moderate Buy" with an average price target of about $194.21.

Oak Harvest Investment Services decreased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 15.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 57,343 shares of the oil and gas company's stock after selling 10,654 shares during the period. Oak Harvest Investment Services' holdings in Chevron were worth $8,740,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Chevron by 17.9% during 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 increased 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 acquiring an additional 12,789,399 shares during the last quarter. Northern Trust Corp increased its stake in shares of Chevron by 15.3% during 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. Fisher Asset Management LLC increased its stake in shares of Chevron by 1.6% during the 3rd quarter. Fisher Asset Management LLC now owns 21,152,060 shares of the oil and gas company's stock valued at $3,284,704,000 after acquiring an additional 325,255 shares during the last quarter. Finally, Bank of New York Mellon Corp increased 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 acquiring an additional 4,279,918 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

In related news, Vice Chairman Mark A. Nelson sold 139,600 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the sale, the insider directly owned 11,337 shares of the company's stock, valued at approximately $2,130,449.04. This represents a 92.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Alana K. Knowles sold 2,408 shares of the company's stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $183.28, for a total value of $441,338.24. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 779,407 shares of company stock worth $145,972,971. 0.21% of the stock is owned by insiders.

Chevron Stock Performance

Chevron stock opened at $184.08 on Friday. The stock has a market cap of $366.74 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 1.20 and a beta of 0.60. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $192.34 and a 200-day moving average of $168.96. Chevron Corporation has a 52 week low of $132.33 and a 52 week high of $214.71.

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

Chevron Increases Dividend

The company also recently declared 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 of this dividend was Tuesday, February 17th. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. This is an increase from Chevron's previous quarterly dividend of $1.71. Chevron's dividend payout ratio is currently 106.91%.

Trending Headlines about Chevron

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.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CVX. Tudor Pickering raised shares of Chevron from a "hold" rating to a "buy" rating and set a $225.00 price objective for the company in a research note on Thursday, April 9th. Wall Street Zen raised shares of Chevron from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. Bank of America upped their price objective on shares of Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. Citigroup upped their price objective on shares of Chevron from $210.00 to $235.00 and gave the company a "buy" rating in a research note on Thursday, April 2nd. Finally, Melius Research raised shares of Chevron from a "hold" rating to a "buy" rating and set a $205.00 price objective for the company in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $194.21.

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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