RiverFront Investment Group LLC Purchases 13,252 Shares of Chevron Corporation $CVX

Key Points

• RiverFront Investment Group LLC boosted its Chevron stake by 86.8% in the fourth quarter, buying 13,252 additional shares to bring its total holdings to 28,511 shares worth about $4.35 million.
• Chevron continues to attract significant institutional ownership, with large funds like Vanguard, State Street, and Northern Trust also increasing positions; overall, institutions own 72.42% of the company.
• Chevron reported earnings per share of $1.41, beating estimates, but revenue came in below forecasts at $47.56 billion. The company also announced a quarterly dividend of $1.78 per share, implying a 3.7% yield.

RiverFront Investment Group LLC increased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 86.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,511 shares of the oil and gas company's stock after acquiring an additional 13,252 shares during the quarter. RiverFront Investment Group LLC's holdings in Chevron were worth $4,345,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CVX. Vanguard Group Inc. raised its holdings in Chevron by 17.9% during the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company's stock worth $28,540,753,000 after buying an additional 27,961,463 shares during the period. State Street Corp raised its holdings in 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 worth $23,698,184,000 after buying an additional 12,789,399 shares during the period. Northern Trust Corp raised its holdings in 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 worth $3,528,890,000 after buying an additional 3,007,403 shares during the period. Fisher Asset Management LLC raised its holdings in 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 worth $3,284,704,000 after buying an additional 325,255 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in 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 worth $3,047,900,000 after buying an additional 4,279,918 shares during the period. Institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on CVX shares. Royal Bank Of Canada restated an "outperform" rating and set a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. BNP Paribas Exane upgraded shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 target price on the stock in a report on Friday, April 17th. Piper Sandler raised their target price on shares of Chevron from $179.00 to $242.00 and gave the stock an "overweight" rating in a report on Thursday, March 12th. Barclays raised their target price on shares of Chevron from $180.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 4th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Chevron in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $204.13.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell its Singapore refining stake and other Asia-Pacific downstream assets to ENEOS for roughly $2.17 billion, reinforcing its strategy to streamline the portfolio and potentially improve returns. Reuters article on ENEOS buying Chevron assets
• Positive Sentiment: Another report framed Chevron’s recent earnings as less weak than the headline numbers suggested, noting that the company’s share price did not fall sharply after the results, which may indicate investors are focusing on underlying cash generation and strategic actions rather than the revenue miss. Yahoo Finance article on Chevron earnings
• Neutral Sentiment: Market commentary this week also compared Chevron with TotalEnergies and discussed broader oil-sector themes, but those pieces were more about sector positioning than a direct new fundamental change for Chevron. Motley Fool comparison article
• Negative Sentiment: Chevron’s latest quarter was mixed, with earnings per share beating estimates but revenue coming in below expectations, which could temper enthusiasm if investors refocus on operating performance rather than asset sales. Chevron stock background

Insider Activity at Chevron

In other news, Vice Chairman Mark A. Nelson sold 139,600 shares of the business's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the transaction, the insider directly owned 11,337 shares in the company, valued at $2,130,449.04. The trade was a 92.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew Benjamin Walz sold 11,600 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $188.58, for a total transaction of $2,187,528.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 803,570 shares of company stock worth $151,969,798 over the last ninety days. Company insiders own 0.56% of the company's stock.

Chevron Stock Down 0.1%

Chevron stock opened at $190.91 on Monday. The firm has a market capitalization of $380.22 billion, a PE ratio of 33.09, a P/E/G ratio of 0.64 and a beta of 0.51. The company's 50-day moving average is $193.14 and its 200-day moving average is $173.38. Chevron Corporation has a fifty-two week low of $133.77 and a fifty-two week high of $214.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

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 for the quarter, topping the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.18 EPS. Sell-side analysts anticipate that Chevron Corporation will post 15.43 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. Chevron's payout ratio is currently 123.40%.

About Chevron

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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