Sunbelt Securities Inc. Sells 10,035 Shares of Chevron Corporation $CVX

Key Points

• Sunbelt Securities Inc. cut its Chevron stake by 28.2%, selling 10,035 shares and ending the quarter with 25,602 shares valued at $3.976 million.
• Heavy insider selling: Vice Chairman sold 139,600 shares (~$26.2M) and the CFO sold 32,100 shares (~$5.6M), with insiders disposing of 1,099,397 shares worth about $196.2M in the past three months.
• Analyst sentiment is mixed with an average rating of Hold and a $183.18 price target, though some firms (Mizuho, Piper Sandler) have raised targets well above current levels; Chevron also boosted its quarterly dividend to $1.78 (≈3.6% yield).

Sunbelt Securities Inc. decreased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 28.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,602 shares of the oil and gas company's stock after selling 10,035 shares during the quarter. Sunbelt Securities Inc.'s holdings in Chevron were worth $3,976,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vishria Bird Financial Group LLC boosted its position in shares of Chevron by 1.2% in the third quarter. Vishria Bird Financial Group LLC now owns 5,285 shares of the oil and gas company's stock valued at $821,000 after acquiring an additional 65 shares during the period. Nexus Investment Management ULC increased its position in Chevron by 0.9% during the third quarter. Nexus Investment Management ULC now owns 7,641 shares of the oil and gas company's stock worth $1,187,000 after acquiring an additional 65 shares during the period. Scott & Selber Inc. increased its position in Chevron by 0.5% during the third quarter. Scott & Selber Inc. now owns 13,391 shares of the oil and gas company's stock worth $2,079,000 after acquiring an additional 65 shares during the period. White Knight Strategic Wealth Advisors LLC raised its stake in Chevron by 3.0% during the 2nd quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company's stock valued at $319,000 after purchasing an additional 65 shares during the last quarter. Finally, William B. Walkup & Associates Inc. raised its stake in Chevron by 1.0% during the 3rd quarter. William B. Walkup & Associates Inc. now owns 6,356 shares of the oil and gas company's stock valued at $987,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analyst Weigh In

CVX has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Chevron from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. Mizuho upped their price objective on shares of Chevron from $206.00 to $217.00 and gave the company an "outperform" rating in a research report on Tuesday. Piper Sandler increased their target price on shares of Chevron from $179.00 to $242.00 and gave the company an "overweight" rating in a research note on Thursday, March 12th. Zacks Research upgraded shares of Chevron from a "strong sell" rating to a "hold" rating in a research note on Tuesday, December 23rd. Finally, TD Cowen lifted their target price on Chevron from $160.00 to $168.00 and gave the stock a "hold" rating in a research report on Monday, February 2nd. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $183.18.

Chevron Stock Up 0.6%

CVX opened at $197.97 on Wednesday. The company has a market capitalization of $395.02 billion, a P/E ratio of 29.73, a P/E/G ratio of 1.82 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. The firm's fifty day moving average price is $178.82 and its two-hundred day moving average price is $162.60. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $200.58.

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

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were given a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.6%. This is a boost from Chevron's previous quarterly dividend of $1.71. The ex-dividend date of this dividend was Tuesday, February 17th. Chevron's dividend payout ratio (DPR) is currently 106.91%.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Potential Venezuela deal — Chevron is reportedly working on a production agreement in Venezuela that could materially boost long‑term oil output and growth if finalized; this is being viewed as a major upside catalyst for future cash flow. Could an Oil Deal in Venezuela Boost Chevron's Stock?
• Positive Sentiment: Bullish analyst attention — a Barclays‑linked note published projects strong price appreciation for CVX, signaling institutional conviction that the shares can outperform on fundamentals and cash returns. Barclays Forecasts Strong Price Appreciation for Chevron NYSE: CVX Stock
• Positive Sentiment: Mizuho upgrade/target raise — Mizuho raised its price target to $217 and set an “outperform” view, highlighting perceived upside from current levels and supporting near‑term investor sentiment. Benzinga: Mizuho price target raise
• Positive Sentiment: Brazil expansion — Chevron is in advanced talks to buy a ~30% stake in Ultrapar’s Ipiranga retail/fuels unit, which would deepen its distribution footprint in a growth market and diversify downstream earnings. Chevron in Advanced Negotiations to Buy 30% Stake in Ipiranga
• Positive Sentiment: Aphrodite gas progress — Chevron awarded a FEED contract for Cyprus’ Aphrodite gas field, advancing a development that could add LNG/gas optionality and longer‑dated production upside. Chevron Advances Cyprus' Aphrodite Gas Field Development
• Neutral Sentiment: Dividend credibility — Chevron extended its 39‑year dividend growth streak and remains included in dividend funds, supporting investor income expectations even as the company navigates settlement issues and geopolitical warnings. Is Chevron Balancing Dividend Strength With Rising Geopolitical Risk In Its Energy Strategy?
• Negative Sentiment: Mixed analyst signals — Barclays also published an “equal weight” view with a lower $180 target in mid‑March, implying limited upside or modest downside from current levels and adding some analyst ambivalence. Benzinga: Barclays price target update
• Negative Sentiment: Geopolitical risk & market caution — oil executives are warning of greater volatility amid Middle East tensions and doubts about security for shipping through the Strait of Hormuz; higher oil can help earnings but increases short‑term risk to operations and refining margins. Market Chatter: Oil Executives Caution Volatility
• Negative Sentiment: Reputational/legal scrutiny — WSJ reporting on past dealings involving an ex‑Chevron executive highlights potential reputational risk that could draw regulatory or PR attention. Takeaways From WSJ Reporting on the CIA's Dealings With an Ex-Chevron Executive

Insider Buying and Selling at Chevron

In related news, Vice Chairman Mark A. Nelson sold 139,600 shares of the firm's 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 completion of the transaction, the insider owned 11,337 shares in the company, valued at $2,130,449.04. This trade represents a 92.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the chief financial officer owned 4,366 shares in the company, valued at $764,093.66. This trade represents a 88.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,099,397 shares of company stock worth $196,196,468 in the last three months. 0.20% of the stock is currently owned by company insiders.

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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