Storgate LLC Purchases Shares of 9,999 Chevron Corporation $CVX

Key Points

• Storgate LLC opened a new position in Chevron, buying 9,999 shares worth about $1.52 million in the fourth quarter. The stake now represents roughly 1.3% of Storgate’s portfolio and is its 7th-largest holding.
• Chevron continues to attract heavy institutional interest, with major holders like Vanguard, State Street, and Norges Bank increasing or initiating positions. In total, 72.42% of Chevron’s stock is owned by institutions and hedge funds.
• Wall Street remains broadly positive on Chevron: analysts have a consensus rating of “Moderate Buy” with a target price of $205.70, while the company also recently paid a quarterly dividend of $1.78 per share, equal to a 3.8% annualized yield.

Storgate LLC acquired a new stake in Chevron Corporation (NYSE:CVX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,999 shares of the oil and gas company's stock, valued at approximately $1,524,000. Chevron comprises about 1.3% of Storgate LLC's holdings, making the stock its 7th largest position.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Chevron by 17.9% in the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company's stock valued at $28,540,753,000 after buying an additional 27,961,463 shares during the last quarter. State Street Corp lifted its position in shares of Chevron by 9.1% in the third 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 last quarter. Geode Capital Management LLC lifted its position in shares of Chevron by 0.3% in the fourth 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 buying an additional 134,890 shares during the last quarter. Norges Bank acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $3,727,586,000. Finally, Northern Trust Corp lifted its position in shares of Chevron by 15.3% in the third quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company's stock valued at $3,528,890,000 after buying an additional 3,007,403 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent analyst reports. Citigroup raised their price objective on Chevron from $210.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. HSBC raised Chevron from a "hold" rating to a "buy" rating and set a $215.00 price target for the company in a report on Friday, March 20th. Bank of America lifted their price target on Chevron from $188.00 to $206.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. UBS Group lifted their price target on Chevron from $218.00 to $220.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Finally, Weiss Ratings cut Chevron from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 2nd. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $205.70.

Insiders Place Their Bets

In related news, Director John B. Hess sold 380,000 shares of the business's stock in a transaction 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 sale, the director owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of the business's stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the sale, the insider owned 8,638 shares in the company, valued at $1,842,485.40. This represents a 82.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 615,200 shares of company stock valued at $118,022,760 in the last three months. 0.56% of the stock is owned by insiders.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reportedly joined YPF and Pluspetrol in backing TGS’s $3 billion Argentina NGL project, improving the odds of a final investment decision and signaling another potential growth avenue for Chevron outside its core assets. Chevron and Partners to Support TGS-Led Argentina NGL Project
• Positive Sentiment: CEO Mike Wirth said Chevron is still looking at new opportunities in the Middle East and could expand its regional exposure, reinforcing the company’s growth optionality in a strategic energy market. Chevron continues to look at new opportunities in Middle East, CEO says
• Positive Sentiment: Analyst commentary remained constructive, with Erste Group raising FY2026 and FY2027 earnings estimates for Chevron, suggesting expectations for solid profitability remain intact.
• Positive Sentiment: Multiple articles highlighted Chevron as a high-yield, value-oriented energy name, which may be supporting demand from income and valuation-focused investors.
• Neutral Sentiment: Chevron’s CEO pushed back on claims about Persian Gulf oil flow volumes, while U.S. crude inventories continue to decline; this adds uncertainty but does not clearly change Chevron’s fundamental outlook. U.S. energy secretary says 7 million barrels of oil exiting Persian Gulf daily, but Chevron CEO rebuts the claim
• Neutral Sentiment: Separate commentary on Chevron’s valuation and broader energy-sector strength points to ongoing momentum, but these pieces are more supportive of the stock’s longer-term case than a direct near-term catalyst. Assessing Chevron (CVX) Valuation After Recent Gains And Mixed Undervaluation Signals
• Negative Sentiment: Oil prices fell to their lowest level since early March as markets priced in potentially higher Strait of Hormuz flows and progress toward an interim peace deal, which can pressure Chevron’s upstream earnings expectations. Oil Hits Lowest Since Early March on Potential Hormuz Reopening

Chevron Price Performance

Shares of NYSE CVX opened at $186.96 on Friday. The stock has a market capitalization of $372.34 billion, a PE ratio of 32.40, a P/E/G ratio of 0.61 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The business has a fifty day moving average price of $188.75 and a two-hundred day moving average price of $178.06. Chevron Corporation has a fifty-two week low of $142.40 and a fifty-two week high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $47.56 billion during the quarter, compared to analysts' expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.18 EPS. As a group, equities analysts predict that Chevron Corporation will post 15.88 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. Chevron's payout ratio is 123.40%.

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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