SPX Gestao de Recursos Ltda Invests $870,000 in Chevron Corporation $CVX

Key Points

• SPX Gestao de Recursos Ltda purchased a new stake of 5,600 Chevron shares valued at approximately $870,000 during the third quarter.
• Chevron raised its quarterly dividend to $1.78 (annualized $7.12, ~3.7% yield), yet analysts remain mixed with a consensus "Hold" and an average price target of $178.95 (some firms have pushed targets toward ~$210).
• There has been heavy portfolio activity: Vanguard added roughly 27.96 million shares (now owning ~183.79 million), institutional investors own ~72.42% of the stock, and insiders have sold over 1,052,197 shares (about $187.1 million) in the last 90 days.

SPX Gestao de Recursos Ltda purchased a new stake in Chevron Corporation (NYSE:CVX - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 5,600 shares of the oil and gas company's stock, valued at approximately $870,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of 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 purchasing an additional 27,961,463 shares during the last quarter. Norges Bank acquired a new position in Chevron in the second quarter valued at approximately $2,721,477,000. Primecap Management Co. CA purchased a new position in Chevron in the third quarter valued at approximately $988,083,000. Bank of New York Mellon Corp raised its holdings in Chevron by 27.9% during the third 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 purchasing an additional 4,279,918 shares in the last quarter. Finally, Laurel Wealth Advisors LLC lifted its position in shares of Chevron by 14,194.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company's stock worth $532,984,000 after buying an additional 3,696,177 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Freedom Capital downgraded shares of Chevron from a "hold" rating to a "strong sell" rating in a research note on Tuesday, January 6th. Jefferies Financial Group increased their price objective on Chevron from $174.00 to $189.00 and gave the company a "buy" rating in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Chevron in a report on Wednesday, January 21st. Citigroup boosted their price target on Chevron from $179.00 to $210.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $190.00 target price on shares of Chevron in a research note on Monday, February 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of "Hold" and an average price target of $178.95.

Insider Buying and Selling

In other Chevron news, insider Alana K. Knowles sold 2,408 shares of Chevron stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $183.28, for a total transaction of $441,338.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron 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 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,052,197 shares of company stock worth $187,128,404. 0.21% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

Shares of CVX opened at $190.01 on Friday. The company's 50 day simple moving average is $173.38 and its 200 day simple moving average is $160.73. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $192.41. The company has a market capitalization of $379.14 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 1.91 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15.

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

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be issued a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. This is an increase from Chevron's previous quarterly dividend of $1.71. Chevron's payout ratio is currently 106.91%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: U.S. launches $20B tanker reinsurance program, supporting crude above $90 and reducing shipping-risk premium — higher crude prices improve Chevron’s upstream margins and cash flow. Read More.
• Positive Sentiment: Analysts and institutions are increasingly bullish: several firms have raised price targets (one recent note pushes target toward $210), reflecting confidence in Chevron’s cash returns and dividend profile — this supports buy-side interest. Read More.
• Positive Sentiment: Dividend raise and income story remain supportive — Chevron recently increased its quarterly payout, reinforcing its appeal to income-focused investors amid higher commodity prices. Read More.
• Neutral Sentiment: Mixed analyst landscape: while some firms lift targets, others trim fair-value estimates — consensus remains split (buys, holds, sells), which can limit sustained momentum despite positive headlines. Read More.
• Negative Sentiment: Significant insider selling: CEO Michael Wirth and other senior execs disclosed multi‑million‑dollar stock sales in early March — this often prompts near‑term caution and profit‑taking. Read More.
• Negative Sentiment: Operational disruption: Chevron has suspended certain production (e.g., Leviathan-related outages / force majeure reports) tied to regional hostilities — potential near-term volume losses and uncertainty for specific assets. Read More.
• Negative Sentiment: Broader geopolitical volatility (Strait of Hormuz attacks and halted tanker traffic) raises supply‑and‑policy risk that can cause sharp swing trading and higher insurance/shipment costs — a double‑edged sword for oil majors. Read More.

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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