RNC Capital Management LLC Has $59.59 Million Holdings in Chevron Corporation $CVX

Key Points

• RNC Capital Management trimmed its position in Chevron by 1.3% to 390,983 shares valued at $59.59 million, representing roughly 2.7% of its portfolio and the firm's 12th-largest holding.
• Company insiders sold large stakes — including CEO Michael K. Wirth (272,624 shares, ~$51.6M) and R. Hewitt Pate (58,000 shares, ~$10.9M) — with insiders offloading 621,439 shares (~$118.3M) last quarter, leaving insiders owning 0.56% of the stock.
• Chevron beat Q1 EPS ($1.41 vs. $1.00 est.), prompting analyst target upgrades and an average MarketBeat rating of "Moderate Buy" with a $198.96 target, and the company announced a quarterly dividend of $1.78 (annualized $7.12, ~3.7% yield).

RNC Capital Management LLC trimmed its stake in Chevron Corporation (NYSE:CVX - Free Report) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 390,983 shares of the oil and gas company's stock after selling 5,330 shares during the period. Chevron comprises approximately 2.7% of RNC Capital Management LLC's investment portfolio, making the stock its 12th biggest position. RNC Capital Management LLC's holdings in Chevron were worth $59,590,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CVX. Decker Retirement Planning Inc. bought a new stake in Chevron in the third quarter valued at approximately $34,000. Marquette Asset Management LLC bought a new position in Chevron during the 3rd quarter worth approximately $41,000. Barnes Dennig Private Wealth Management LLC raised its holdings in Chevron by 306.1% during the 3rd 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 acquired a new position in shares of Chevron in the 4th quarter worth approximately $44,000. Finally, Turning Point Benefit Group Inc. bought a new stake in shares of Chevron in the 3rd quarter valued at $49,000. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, insider R. Hewitt Pate sold 58,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $188.65, for a total value of $10,941,700.00. Following the transaction, the insider owned 8,558 shares in the company, valued at approximately $1,614,466.70. This represents a 87.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael K. Wirth sold 272,624 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $189.35, for a total value of $51,621,354.40. Following the completion of the sale, the chief executive officer directly owned 31,266 shares of the company's stock, valued at $5,920,217.10. This trade represents a 89.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 621,439 shares of company stock worth $118,307,800 in the last quarter. Company insiders own 0.56% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CVX shares. BMO Capital Markets reiterated an "outperform" rating and set a $190.00 price objective on shares of Chevron in a research report on Monday, February 2nd. Barclays upped their price target on shares of Chevron from $180.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday. Jefferies Financial Group increased their price target on Chevron from $174.00 to $189.00 and gave the stock a "buy" rating in a report on Wednesday, January 14th. Melius Research raised Chevron from a "hold" rating to a "buy" rating and set a $205.00 price objective for the company in a research report on Tuesday, February 17th. Finally, Wall Street Zen upgraded Chevron from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Chevron presently has an average rating of "Moderate Buy" and an average price target of $198.96.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: CEO warns physical oil shortages will begin to appear, supporting higher future oil prices and stronger cash flows for majors like Chevron. Chevron CEO says physical shortages in oil supply to begin appearing (Reuters)
• Positive Sentiment: Analysis argues Chevron is well positioned at $110 oil due to low-cost operations and capital discipline — higher crude boosts margins and free cash flow, underpinning dividends and buybacks. Is Chevron a Buy, Sell, or Hold at $110 Oil? (Fool)
• Positive Sentiment: Chevron is in talks to acquire stakes in major Iraqi oilfields, which could add production and materially change long-term valuation if completed. Strategic upstream deals would be a growth catalyst. Chevron Iraqi Oilfield Talks And What They Could Mean For CVX Valuation (Yahoo)
• Positive Sentiment: Q1 results beat EPS estimates, production grew and the board affirmed the dividend; analysts raised targets and highlighted a path to accelerating earnings and cash returns. That supports investor confidence in cash flow and payouts. Chevron Corporation 2026 Q1 - Results - Earnings Call Presentation (Seeking Alpha)
• Neutral Sentiment: Operational note: some margin compression was reported in the Q1 deep dive despite upstream growth — mixed near-term margin pressure even as revenue and production support longer-term cash flow. CVX Q1 Deep Dive: Margin Compression Amid Stable Revenue and Upstream Growth (Yahoo)
• Neutral Sentiment: Comparisons with Exxon and other majors continue in the press; investors are weighing dividend appeal, capital returns and valuation differences — useful for portfolio positioning but not an immediate catalyst. Chevron vs. Exxon: Which is the Better Investment After Strong Q1 Results? (Yahoo)
• Negative Sentiment: Middle East clashes (US-Iran exchange of fire) drove an intra-day oil spike and heightened market volatility; while higher oil helps profits, geopolitical shocks increase short-term risk and price swings for CVX. Oil Edges Lower Following Spike as Iran and US Exchange Fire (Bloomberg/Yahoo)
• Negative Sentiment: CEO and management expressed concern about shipping safety in the Strait of Hormuz; prolonged disruption could raise transport/insurance costs, limit access to barrels, and create execution risk for field operations. Chevron CEO voices concern over Strait of Hormuz ship safety (Yahoo)

Chevron Stock Up 0.9%

Shares of NYSE CVX opened at $192.41 on Tuesday. The firm has a market cap of $383.34 billion, a PE ratio of 33.35, a P/E/G ratio of 0.71 and a beta of 0.51. Chevron Corporation has a 12-month low of $133.77 and a 12-month high of $214.71. The company's fifty day simple moving average is $193.08 and its 200 day simple moving average is $171.36. 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 posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 7.01%. The firm had revenue of $48.61 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the previous year, the firm posted $2.18 earnings per share. The business's revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron Corporation will post 14.13 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron's payout ratio is presently 123.40%.

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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