Sumitomo Mitsui Trust Group Inc. Reduces Holdings in Chevron Corporation $CVX

Key Points

• Sumitomo Mitsui Trust Group Inc. trimmed its stake in Chevron by 5.4% in Q4, selling 263,881 shares and leaving it with 4,626,445 shares (about 0.23% of the company) valued at roughly $705.1 million.
• Corporate insiders have been net sellers: CEO Michael K. Wirth sold 272,624 shares for about $51.6 million and the CFO sold 32,100 shares, with total insider sales of 782,607 shares worth ~$146.5 million last quarter (insiders now own 0.21%).
• Operationally, Chevron approved the roughly $690M Aseng gas project and confirmed a major Bandit oil discovery, but analysts are mixed—consensus is a "Moderate Buy" with a ~$190 target while Q1 earnings face geopolitical/hedging risks that could cause volatility.

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 5.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,626,445 shares of the oil and gas company's stock after selling 263,881 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Chevron worth $705,116,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CVX. Decker Retirement Planning Inc. purchased a new stake in shares of Chevron during the third quarter worth approximately $34,000. Marquette Asset Management LLC purchased a new stake in shares of Chevron during the third quarter worth approximately $41,000. Barnes Dennig Private Wealth Management LLC increased its position in shares of Chevron by 306.1% during the third 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 in the last quarter. Daytona Street Capital LLC purchased a new stake in shares of Chevron during the fourth quarter worth approximately $44,000. Finally, Evolution Wealth Management Inc. purchased a new stake in shares of Chevron during the second quarter worth approximately $49,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about 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

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 272,624 shares of the company's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the transaction, the chief executive officer owned 31,266 shares of the company's stock, valued at $5,920,217.10. This represents a 89.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Eimear P. Bonner sold 32,100 shares of the company's stock in a transaction on Friday, January 30th. The shares were sold at an average price of $175.01, for a total value of $5,617,821.00. Following the completion of the transaction, the chief financial officer directly owned 4,366 shares in the company, valued at approximately $764,093.66. This trade represents a 88.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 782,607 shares of company stock worth $146,510,571. Corporate insiders own 0.21% of the company's stock.

Chevron Stock Down 0.9%

Shares of NYSE:CVX opened at $188.57 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $191.51 and a two-hundred day moving average of $168.05. The stock has a market cap of $375.68 billion, a P/E ratio of 28.31, a PEG ratio of 1.40 and a beta of 0.60. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $214.71.

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

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were paid a $1.78 dividend. This is a boost from Chevron's previous quarterly dividend of $1.71. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. Chevron's dividend payout ratio is currently 106.91%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CVX shares. HSBC upgraded Chevron from a "hold" rating to a "buy" rating and set a $215.00 price target for the company in a research report on Friday, March 20th. Bank of America boosted their price target on Chevron from $188.00 to $206.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. UBS Group reiterated a "buy" rating and set a $212.00 price target on shares of Chevron in a research report on Monday, February 2nd. Barclays upped their target price on Chevron from $172.00 to $180.00 and gave the company an "equal weight" rating in a report on Monday, March 16th. Finally, Scotiabank upgraded Chevron to a "hold" rating in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, Chevron currently has an average rating of "Moderate Buy" and a consensus price target of $190.04.

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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