Vanguard Group Inc. Has $27.89 Billion Stake in Chevron Corporation $CVX

Key Points

• Vanguard Group trimmed its position by 0.5% to 182,961,533 shares but still holds a 9.09% stake in Chevron valued at about $27.89 billion.
• Senior insiders sold large blocks on March 2 — CEO Michael Wirth sold 272,624 shares (~$51.6M) and Vice Chairman Mark Nelson sold 139,600 shares (~$26.2M) — and insiders disposed of 779,407 shares (~$146M) during the quarter, leaving insider ownership at ~0.56%.
• Analysts have been raising targets (e.g., Morgan Stanley to $212, Wells Fargo to $222) giving Chevron a consensus "Moderate Buy" with an average target of $198.09, while the company boosted its quarterly dividend to $1.78 (annualized $7.12) for a ~3.8% yield and a payout ratio above 100%.

Vanguard Group Inc. trimmed its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 182,961,533 shares of the oil and gas company's stock after selling 828,495 shares during the quarter. Vanguard Group Inc. owned 9.09% of Chevron worth $27,885,167,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CVX. Barlow Wealth Partners LLC raised its stake in shares of Chevron by 1.1% in the fourth quarter. Barlow Wealth Partners LLC now owns 5,363 shares of the oil and gas company's stock worth $869,000 after purchasing an additional 60 shares during the last quarter. Stone House Investment Management LLC raised its stake in shares of Chevron by 6.1% in the fourth quarter. Stone House Investment Management LLC now owns 1,065 shares of the oil and gas company's stock worth $162,000 after purchasing an additional 61 shares during the last quarter. TigerOak Management L.L.C. raised its stake in shares of Chevron by 0.7% in the fourth quarter. TigerOak Management L.L.C. now owns 9,020 shares of the oil and gas company's stock worth $1,375,000 after purchasing an additional 62 shares during the last quarter. Heritage Wealth Management Inc. raised its stake in shares of Chevron by 0.3% in the fourth quarter. Heritage Wealth Management Inc. now owns 23,896 shares of the oil and gas company's stock worth $3,642,000 after purchasing an additional 62 shares during the last quarter. Finally, Wilkins Miller Wealth Management LLC raised its stake in shares of Chevron by 0.7% in the fourth quarter. Wilkins Miller Wealth Management LLC now owns 8,645 shares of the oil and gas company's stock worth $1,318,000 after purchasing an additional 63 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CVX shares. Morgan Stanley increased their price objective on shares of Chevron from $174.00 to $212.00 and gave the company an "overweight" rating in a research note on Friday, March 27th. Jefferies Financial Group raised their price objective on shares of Chevron from $174.00 to $189.00 and gave the stock a "buy" rating in a report on Wednesday, January 14th. Barclays boosted their price objective on Chevron from $172.00 to $180.00 and gave the company an "equal weight" rating in a research note on Monday, March 16th. Wells Fargo & Company lifted their price target on Chevron from $204.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Finally, Royal Bank Of Canada lifted their price target on Chevron from $200.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Chevron presently has an average rating of "Moderate Buy" and an average price target of $198.09.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 272,624 shares of the company's stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the company'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 value of $26,233,632.00. Following the completion of the sale, the insider directly owned 11,337 shares of the company's stock, valued at approximately $2,130,449.04. This represents a 92.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 779,407 shares of company stock worth $145,972,971. 0.56% of the stock is owned by corporate insiders.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wheatstone LNG has fully resumed production after cyclone repairs, restoring expected cash flow from the Australian LNG asset and removing a short-term production drag. Chevron resumes full production at Wheatstone LNG after repairs for cyclone damage
• Positive Sentiment: Chevron says it reached an asset-swap agreement that expands its stake in Venezuelan heavy oil operations — a move that could lift reserves and long-term production potential if implemented. Chevron Corporation (CVX) Expands Stakes in Venezuela Oil Operations
• Positive Sentiment: Warren Buffett’s ongoing stake and commentary on Chevron continue to be cited as a vote of confidence for long-term investors, supporting sentiment versus peers. Deepening Growth Pipeline Sustains Warren Buffett’s Confidence In Chevron (CVX)
• Positive Sentiment: Zacks has highlighted Chevron as a Bull of the Day and it's included in lists of high-flying "old economy" stocks with room to run — analyst attention can help prop up demand in a pullback. Chevron and Avis Budget have been highlighted as Zacks Bull and Bear of the Day
• Neutral Sentiment: Chevron is a trending stock with increased retail and analyst attention; that raises liquidity and volatility but is ambivalent for direction without fresh catalysts. Chevron Corporation (CVX) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Venezuelan partner Suelopetrol says it was not informed of Chevron’s reported expansion — a public dispute that raises execution, legal and geopolitical risk around the asset-swap and could delay realization of the announced upside. Suelopetrol says it has not been Informed of Chevron’s (CVX) Expansion at Venezuela Joint Venture
• Negative Sentiment: Zacks preview flags an expected decline in Q1 earnings, which raises the risk of a disappointing release and near-term downside if results or guidance miss. Earnings Preview: Chevron (CVX) Q1 Earnings Expected to Decline
• Negative Sentiment: After a strong YTD rally, articles note a month-long cooldown and profit-taking in big oil names; that broader flow explains part of today’s pullback even without company-specific bad news. Exxon Stock and Chevron Stock Are Up 20%+ YTD – Why the Long Oil Trade Is Stalling Out

Chevron Stock Down 1.3%

CVX opened at $185.13 on Friday. The company has a fifty day moving average price of $192.56 and a 200-day moving average price of $170.16. The firm has a market capitalization of $368.82 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 0.79 and a beta of 0.60. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. Chevron Corporation has a one year low of $133.77 and a one year high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The firm had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. During the same period in the previous year, the business earned $2.06 EPS. The business's revenue for the quarter was down 10.2% on a year-over-year basis. Equities research analysts expect that Chevron Corporation will post 12.49 earnings per share for the current fiscal year.

Chevron Increases Dividend

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

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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