Principal Financial Group Inc. Increases Holdings in Chevron Corporation $CVX

Key Points

• Principal Financial Group increased its Chevron stake by 10% in Q1, adding 288,589 shares and bringing its total holding to 3,185,457 shares worth about $659.1 million.
• Institutional ownership remains heavy, with hedge funds and other institutions holding 72.42% of Chevron. Meanwhile, director John B. Hess sold 380,000 shares, reducing his position by more than 57%.
• Chevron has received generally positive analyst sentiment, with a Moderate Buy consensus and an average price target of $206.83. The company also reported quarterly EPS of $1.41, beating expectations, and continues paying a quarterly dividend yielding about 3.9%.

Principal Financial Group Inc. lifted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 10.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,185,457 shares of the oil and gas company's stock after acquiring an additional 288,589 shares during the period. Principal Financial Group Inc. owned 0.16% of Chevron worth $659,071,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Citizens National Bank Trust Department increased its stake in Chevron by 3.8% during the first quarter. Citizens National Bank Trust Department now owns 59,171 shares of the oil and gas company's stock worth $12,242,000 after acquiring an additional 2,144 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in shares of Chevron by 11.9% in the 1st quarter. Chicago Partners Investment Group LLC now owns 23,420 shares of the oil and gas company's stock valued at $4,846,000 after purchasing an additional 2,485 shares during the last quarter. Gratus Wealth Advisors LLC lifted its stake in shares of Chevron by 28.8% in the 1st quarter. Gratus Wealth Advisors LLC now owns 2,371 shares of the oil and gas company's stock valued at $491,000 after purchasing an additional 530 shares during the last quarter. Kellett Wealth Advisors LLC purchased a new position in shares of Chevron in the 1st quarter worth approximately $270,000. Finally, IFC Advisors LLC boosted its holdings in shares of Chevron by 0.9% in the 1st quarter. IFC Advisors LLC now owns 12,762 shares of the oil and gas company's stock worth $2,640,000 after purchasing an additional 118 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 380,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director owned 278,045 shares of the company's stock, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Oil prices jumped after renewed U.S.-Iran tensions and a tougher stance on the Strait of Hormuz, boosting expectations for stronger cash flow and earnings for large integrated producers like Chevron. Oil Surges As Trump Asserts Control Over Strait Of Hormuz; What Happens Now
• Positive Sentiment: Chevron extended its gas supply agreement with Alinta Energy through 2032, reinforcing long-term demand visibility and underscoring the company’s role in regional energy security. Chevron Extends WA Gas Supply Deal With Alinta Energy Through 2032
• Positive Sentiment: Analysts are highlighting Chevron’s potential for a free-cash-flow surge in the second half of 2026, which could support shareholder returns and valuation. Chevron (CVX) Looks Ready for a Free Cash Flow Surge in H2 2026
• Positive Sentiment: Chevron’s joint venture with GE Vernova could benefit from rising electricity demand tied to AI data centers, giving the stock an additional growth narrative beyond traditional oil prices. Does Chevron's Joint Venture With GE Vernova Make the Stock a Buy Ahead of 2027?
• Neutral Sentiment: Industry reports say Chevron is among major oil companies preparing to explore offshore Uruguay, which is a longer-term opportunity but not an immediate earnings driver. Uruguay’s Offshore Oil Province Could Be Bigger Than Vaca Muerta
• Neutral Sentiment: Other coverage noting Chevron’s recent share strength and valuation commentary is broadly supportive, but does not add a major new catalyst on its own. Chevron NYSE: CVX Trading 1.3% Higher - Still a Buy?

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CVX shares. Wells Fargo & Company boosted their target price on Chevron from $204.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Morgan Stanley dropped their price objective on shares of Chevron from $214.00 to $210.00 and set an "overweight" rating for the company in a research note on Monday, June 29th. Tudor Pickering upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $225.00 price objective on the stock in a research report on Thursday, April 9th. Scotiabank boosted their price objective on shares of Chevron from $168.00 to $187.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings downgraded shares of Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 2nd. Nineteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of "Moderate Buy" and an average price target of $206.83.

Chevron Trading Up 3.2%

NYSE:CVX opened at $182.09 on Tuesday. The firm has a 50-day simple moving average of $181.68 and a 200-day simple moving average of $181.73. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The firm has a market cap of $362.66 billion, a P/E ratio of 31.56, a P/E/G ratio of 0.60 and a beta of 0.50. 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 (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company's quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $2.18 earnings per share. Equities analysts anticipate that Chevron Corporation will post 15.28 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. Chevron's dividend payout ratio is currently 123.40%.

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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