PNC Financial Services Group Inc. Acquires 22,350 Shares of Chevron Corporation $CVX

Key Points

• PNC Financial Services Group increased its Chevron stake by 0.6% in the first quarter, buying 22,350 additional shares and bringing its holding to 3,928,530 shares valued at about $812.8 million.
• Chevron reported Q1 EPS of $1.41, beating analyst estimates, though revenue of $47.56 billion came in below expectations. The company also continues to pay a $1.78 quarterly dividend, equal to a 3.7% annualized yield.
• Analyst sentiment remains generally positive, with a consensus rating of Moderate Buy and an average price target of $206.83. However, some recent reports included a reduced price target and an insider sale by director John B. Hess of 380,000 shares.

PNC Financial Services Group Inc. boosted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 0.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,928,530 shares of the oil and gas company's stock after purchasing an additional 22,350 shares during the period. PNC Financial Services Group Inc. owned about 0.20% of Chevron worth $812,813,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CVX. Dakota Wealth Management grew its stake in Chevron by 14.9% during the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock worth $12,690,000 after purchasing an additional 10,822 shares during the period. Clear Trail Advisors LLC acquired a new position in Chevron in the fourth quarter valued at approximately $10,167,000. Curtis Advisory Group LLC acquired a new position in Chevron in the fourth quarter valued at approximately $1,381,000. Indivisible Partners acquired a new position in Chevron in the fourth quarter valued at approximately $1,923,000. Finally, Cypress Wealth Services LLC boosted its holdings in shares of Chevron by 64.0% during the 4th quarter. Cypress Wealth Services LLC now owns 16,591 shares of the oil and gas company's stock worth $2,529,000 after buying an additional 6,475 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 0.6%

Shares of Chevron stock opened at $190.94 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The stock has a 50 day moving average price of $181.74 and a two-hundred day moving average price of $183.20. The stock has a market capitalization of $380.28 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 0.67 and a beta of 0.50.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter in the previous year, the company posted $2.18 earnings per share. The company's quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities analysts anticipate that Chevron Corporation will post 14.78 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Tuesday, May 19th. Chevron's payout ratio is 123.40%.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Oil prices surged above $90 a barrel amid Middle East tensions, helping lift Chevron along with other energy names as investors expect stronger upstream cash flow. Why Are BATL, TPET, XOM, CVX, USO, UCO Stocks Rising Overnight?
• Positive Sentiment: Analysts said Chevron and other energy stocks look positioned to beat second-quarter earnings estimates thanks to elevated crude prices supporting production and drilling economics. Chevron & 2 Energy Stocks Poised to Beat Q2 Earnings Estimates
• Positive Sentiment: Chevron was also highlighted in a bullish oil-market backdrop, with some commentary pointing to rising geopolitical risk and tight U.S. oil inventories as reasons energy stocks could reprice higher. Chevron shuts US Gulf platform in preparation for developing tropical storm
• Neutral Sentiment: Chevron shut in production at its Petronius U.S. Gulf platform ahead of a tropical storm; this is typically a temporary operational step, but it can trim near-term output until conditions improve. Chevron shuts production at US Gulf platform ahead of tropical storm
• Negative Sentiment: One report noted FY2026 EPS estimates for Chevron were lowered by an analyst, which could pressure sentiment if it signals softer earnings expectations. FY2026 EPS Estimates for Chevron Decreased by Analyst

Analysts Set New Price Targets

Several analysts have recently commented on CVX shares. Sanford C. Bernstein reduced their price objective on shares of Chevron from $216.00 to $204.00 and set a "market perform" rating for the company in a research report on Monday, May 11th. Royal Bank Of Canada reiterated an "outperform" rating and set a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. Zacks Research lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. Jefferies Financial Group restated a "buy" rating and issued a $216.00 price target on shares of Chevron in a report on Friday, July 10th. Finally, Tudor Pickering raised shares of Chevron from a "hold" rating to a "buy" rating and set a $225.00 price target for the company in a research note on Thursday, April 9th. Nineteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $206.83.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.56% of the company's stock.

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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