Stock Yards Bank & Trust Co. Cuts Position in Chevron Corporation $CVX

Key Points

• Stock Yards Bank & Trust Co. cut its Chevron stake by 31.1% in the first quarter, selling 84,513 shares and leaving it with 186,946 shares worth about $38.7 million.
• Chevron is drawing a generally bullish analyst tone, with Wolfe Research upgrading it to Outperform and RBC Capital reaffirming a Buy rating. Analysts cite stronger free cash flow prospects and a recent pullback as potential support for the stock.
• The company recently beat EPS expectations in its latest quarterly report, and it continues to pay a sizable dividend of $1.78 per share, equal to a 4.2% yield. However, the payout ratio is elevated, and investors are watching upcoming second-quarter earnings for the next catalyst.

Stock Yards Bank & Trust Co. trimmed its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 31.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,946 shares of the oil and gas company's stock after selling 84,513 shares during the period. Chevron makes up about 1.2% of Stock Yards Bank & Trust Co.'s holdings, making the stock its 26th largest holding. Stock Yards Bank & Trust Co.'s holdings in Chevron were worth $38,679,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp raised its holdings in shares of Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock valued at $23,698,184,000 after buying an additional 12,789,399 shares during the period. Berkshire Hathaway Inc boosted its holdings in Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock valued at $19,837,131,000 after acquiring an additional 8,091,570 shares during the period. Geode Capital Management LLC boosted its holdings in Chevron by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company's stock valued at $6,620,187,000 after acquiring an additional 134,890 shares during the period. Charles Schwab Investment Management Inc. grew its position in Chevron by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company's stock valued at $5,492,377,000 after acquiring an additional 961,341 shares in the last quarter. Finally, Norges Bank acquired a new position in Chevron in the 4th quarter valued at about $3,727,586,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wolfe Research upgraded Chevron to Outperform, saying the recent pullback has created an attractive entry point and that Chevron’s long-term free cash flow outlook is stronger than the market is pricing in. Wolfe Research upgrades Chevron to Outperform on strong cash flow outlook
• Positive Sentiment: RBC Capital also reaffirmed its Buy rating on Chevron, adding to the positive analyst tone around the stock. RBC Capital Reaffirms Their Buy Rating on Chevron (CVX)
• Neutral Sentiment: Several market updates highlighted Chevron’s strong cash generation, solid returns, and ongoing investor interest, while noting the stock may be near fair value rather than deeply discounted. Chevron (CVX) Stock Looks Near Fair Value With Strong Returns But Rich Earnings
• Neutral Sentiment: Chevron remains in focus ahead of its second-quarter earnings conference call later this month, which could become the next major catalyst for the shares. Advisory: Chevron Corporation's 2Q 2026 Earnings Conference Call and Webcast
• Negative Sentiment: A New York Post report said President Trump is pressuring Big Oil to lower gas prices ahead of the midterm elections, which could raise concerns about margin pressure or political scrutiny for Chevron and peers. Big Oil heads for biggest profits in years as Trump pushes for lower gas prices

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 380,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.56% of the company's stock.

Chevron Stock Performance

Shares of CVX stock opened at $169.06 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The firm has a fifty day moving average price of $183.31 and a 200 day moving average price of $180.40. The company has a market cap of $336.71 billion, a P/E ratio of 29.30, a PEG ratio of 0.57 and a beta of 0.50. Chevron Corporation has a 12 month low of $145.58 and a 12 month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the prior year, the company posted $2.18 earnings per share. Chevron's revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts predict that Chevron Corporation will post 15.52 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron's dividend payout ratio (DPR) is 123.40%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. BNP Paribas Exane raised shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price target on the stock in a research report on Friday, April 17th. Citigroup lifted their price objective on shares of Chevron from $210.00 to $235.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. Wells Fargo & Company upped their target price on shares of Chevron from $204.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. Sanford C. Bernstein cut their target price on shares of Chevron from $216.00 to $204.00 and set a "market perform" rating on the stock in a research note on Monday, May 11th. Finally, Zacks Research lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Monday, June 8th. Nineteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.71.

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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