State of Alaska Department of Revenue Sells 17,525 Shares of Chevron Corporation $CVX

Key Points

• State of Alaska Department of Revenue reduced its Chevron stake by 7.1%, selling 17,525 shares and now holds 230,894 shares valued at about $35.19 million.
• Significant insider selling has occurred recently, with insiders offloading 782,607 shares (~$146.5M) in the last 90 days, including large sales by R. Hewitt Pate and Vice Chairman Mark A. Nelson.
• Operational catalysts include approval of the ~$690M Aseng gas project and a Gulf deepwater discovery, but Q1 earnings face volatility from hedging and Middle East geopolitical risks.

State of Alaska Department of Revenue lessened its stake in Chevron Corporation (NYSE:CVX - Free Report) by 7.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 230,894 shares of the oil and gas company's stock after selling 17,525 shares during the period. State of Alaska Department of Revenue's holdings in Chevron were worth $35,189,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Perigon Wealth Management LLC raised its stake in Chevron by 19.3% during the 3rd quarter. Perigon Wealth Management LLC now owns 73,448 shares of the oil and gas company's stock worth $11,406,000 after buying an additional 11,875 shares during the period. Dakota Wealth Management raised its stake in Chevron by 14.9% during the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock worth $12,690,000 after buying an additional 10,822 shares during the period. Brooklyn FI LLC acquired a new stake in Chevron during the 3rd quarter worth $431,000. New York State Teachers Retirement System raised its stake in Chevron by 15.3% during the 3rd quarter. New York State Teachers Retirement System now owns 1,620,231 shares of the oil and gas company's stock worth $251,606,000 after buying an additional 215,345 shares during the period. Finally, Clear Trail Advisors LLC acquired a new stake in Chevron during the 4th quarter worth $10,167,000. Institutional investors own 72.42% of the company's stock.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Confirmed oil discovery at the Bandit prospect in the Gulf of America bolsters Chevron's deepwater growth optionality and potential future production/tie‑back opportunities. Chevron Confirms Major Oil Discovery in the Gulf of America
• Positive Sentiment: Short interest fell materially in March (down ~14.5% to ~21.0M shares; days‑to‑cover ~1.3), reducing one potential source of near‑term downside pressure.
• Positive Sentiment: Chevron approved the ~$690M Aseng gas project, strengthening its LNG growth profile and future cash‑flow diversification. Chevron Approves $690M Aseng Gas Project to Boost LNG Supply
• Neutral Sentiment: Street estimates are split: some reports forecast a Q1 upstream boost (+$1.6B–$2.2B) from higher oil/gas prices, supporting earnings upside if prices hold. Chevron forecasts up to $2.2 bln boost to upstream earnings from higher prices in Q1
• Neutral Sentiment: Analysts warn Q1 will be "noisy" with offsetting forces (price tailwinds vs hedging/volatility); the report due May 1 is a likely catalyst. Chevron Q1 Earnings Will Be 'Noisy' As Headwinds Reverse To Tailwinds: Analyst
• Negative Sentiment: Chevron warned that Middle East volatility and related effects (including hedging) could hit Q1 earnings and cash flow materially — management cited an adverse impact in the multi‑billion‑dollar range, prompting UBS to cut near‑term forecasts. Chevron flags multi-billion-dollar hit from Middle East volatility
• Negative Sentiment: Public commentary highlights hedging risks and potential earnings drag from geopolitical disruptions, adding downside risk to near‑term prints. Chevron sees Iran war oil boost, warns hedging to weigh
• Negative Sentiment: Wall Street previews suggest EPS could be down double digits in Q1 absent favorable price offsets, increasing the chance of volatile reaction at the report. Chevron's Quarterly Earnings Preview: What You Need to Know

Insider Activity

In other Chevron news, insider R. Hewitt Pate sold 58,000 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $188.65, for a total transaction of $10,941,700.00. Following the completion of 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 position. 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 the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $187.92, for a total value of $26,233,632.00. Following the transaction, the insider owned 11,337 shares of the company's stock, valued at approximately $2,130,449.04. This trade represents a 92.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 782,607 shares of company stock worth $146,510,571. 0.20% of the stock is currently owned by insiders.

Chevron Price Performance

CVX stock opened at $188.57 on Monday. The stock has a 50-day moving average price of $191.51 and a two-hundred day moving average price of $168.12. The stock has a market cap of $375.68 billion, a PE ratio of 28.31, a price-to-earnings-growth ratio of 1.40 and a beta of 0.60. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.08. The firm had revenue of $45.79 billion during the quarter, compared to analysts' expectations of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The company's revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.06 EPS. Equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were issued a dividend of $1.78 per share. This is a boost from Chevron's previous quarterly dividend of $1.71. The ex-dividend date was Tuesday, February 17th. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. Chevron's dividend payout ratio is currently 106.91%.

Analyst Ratings Changes

Several brokerages recently commented on CVX. Mizuho raised their price objective on Chevron from $206.00 to $217.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 17th. Freedom Capital downgraded Chevron from a "hold" rating to a "strong sell" rating in a research note on Tuesday, January 6th. BMO Capital Markets reaffirmed an "outperform" rating and set a $190.00 price objective on shares of Chevron in a research note on Monday, February 2nd. Argus set a $203.00 price objective on Chevron in a research note on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. raised Chevron from a "neutral" rating to an "overweight" rating and set a $176.00 price objective on the stock in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Chevron has an average rating of "Moderate Buy" and an average price target of $190.04.

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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