Truist Financial Corp Decreases Stake in Chevron Corporation $CVX

Key Points

• Truist Financial trimmed its Chevron stake by 2.5% in Q4, selling 34,612 shares and now holds 1,368,610 shares valued at $208.59 million (about 0.07% of CVX).
• Mixed Q1 results: Chevron reported adjusted EPS of $1.41 that beat estimates while revenue missed and reported net income fell about 36% due to derivative timing/hedging, yet analysts raised some targets and the consensus rating is a "Moderate Buy" with an average target of $198.09.
• Dividends and insider activity: Chevron declared a $1.78 quarterly dividend (3.7% yield; 123.4% payout ratio) as insiders sold roughly 649,639 shares (~$123.3M) in the past 90 days and institutions own about 72.4% of the stock.

Truist Financial Corp cut its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,368,610 shares of the oil and gas company's stock after selling 34,612 shares during the quarter. Truist Financial Corp owned 0.07% of Chevron worth $208,590,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. United Bank grew its holdings in Chevron by 7.7% in the second quarter. United Bank now owns 11,079 shares of the oil and gas company's stock valued at $1,586,000 after purchasing an additional 796 shares during the last quarter. Schnieders Capital Management LLC. boosted its position in shares of Chevron by 9.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company's stock worth $7,280,000 after buying an additional 4,214 shares in the last quarter. BNP Paribas boosted its position in shares of Chevron by 76.4% in the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company's stock worth $63,000 after buying an additional 191 shares in the last quarter. Osterweis Capital Management Inc. boosted its position in shares of Chevron by 678.9% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company's stock worth $195,000 after buying an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC boosted its position in shares of Chevron by 3.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company's stock worth $2,299,000 after buying an additional 553 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Royal Bank Of Canada boosted their price objective on shares of Chevron from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday, April 13th. Mizuho boosted their price objective on shares of Chevron from $206.00 to $217.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 17th. Tudor Pickering upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $225.00 price objective on the stock in a research report on Thursday, April 9th. Freedom Capital lowered shares of Chevron from a "hold" rating to a "strong sell" rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Chevron in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $198.09.

Chevron Price Performance

NYSE:CVX opened at $190.79 on Monday. The firm has a market cap of $380.12 billion, a price-to-earnings ratio of 33.07, a price-to-earnings-growth ratio of 0.71 and a beta of 0.51. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The company's 50-day moving average is $193.08 and its two-hundred day moving average is $171.36. Chevron Corporation has a 12-month low of $133.77 and a 12-month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.41. The company had revenue of $48.61 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 7.01%. The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.18 EPS. Research analysts expect that Chevron Corporation will post 14.13 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, May 19th. Chevron's dividend payout ratio is 123.40%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Adjusted Q1 results topped Street estimates — Chevron reported adjusted EPS of $1.41, outpacing consensus, helped by higher oil & gas realizations and upstream production gains (Hess integration lifted output). Chevron's upstream strength lifts first-quarter earnings past estimate
• Neutral Sentiment: Elevated crude prices from Middle East tensions remain a potential tailwind for future quarters, but the path is volatile and timing of higher realized profits depends on hedging and production recovery. Big Oil earnings and oil price context
• Neutral Sentiment: Wall Street positioning: analysts have been updating forecasts ahead of and after the print (some raise long‑term EPS outlooks), which could limit downside if guidance/forward cues are constructive. Analyst forecast changes ahead of Q1
• Negative Sentiment: Headline profits plunged (net income fell ~36%) primarily because of derivative timing losses and hedges that moved against Chevron, dragging reported earnings even though operational results improved. Profit hits five-year low due to hedging & timing
• Negative Sentiment: Balance‑sheet / cash‑flow signal: management flagged Middle East risks and the company’s net‑debt-to‑cash‑flow metric worsened, increasing investor concern about near‑term financial flexibility. Net debt to cash flow worsens; CEO flags risks
• Negative Sentiment: Short‑term market pressure from softening oil: crude weakened intraday (~3% drop), which pulled energy names lower and amplified selling after the mixed print. Crude oil down 3% and mixed Q1 coverage

Insider Buying and Selling

In other Chevron news, insider Andrew Benjamin Walz sold 22,200 shares of the company's stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $176.53, for a total value of $3,918,966.00. Following the transaction, the insider directly owned 666 shares in the company, valued at approximately $117,568.98. This represents a 97.09% 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 company's stock in a transaction dated Monday, March 2nd. The shares were 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 approximately $2,130,449.04. This trade represents a 92.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 649,639 shares of company stock worth $123,297,346 in the last 90 days. 0.56% of the stock is currently owned by corporate 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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