Wesbanco Bank Inc. Sells 35,099 Shares of Chevron Corporation $CVX

Key Points

• Wesbanco Bank Inc. reduced its Chevron stake by 12.8% in the first quarter, selling 35,099 shares and leaving it with 239,956 shares worth about $49.6 million. Chevron remains a meaningful holding, representing 1.4% of the firm’s portfolio.
• Wall Street remains broadly constructive on Chevron, with 18 analysts rating it a Buy and the stock carrying a consensus “Moderate Buy” rating and average price target of $205.70. Recent analyst moves included higher targets from Bank of America, HSBC, and Barclays.
• Chevron’s latest quarter beat earnings expectations, reporting EPS of $1.41 versus the $1.00 forecast, while revenue came in below estimates at $47.56 billion. The company also paid a quarterly dividend of $1.78, equal to an annualized yield of about 4.2%.

Wesbanco Bank Inc. trimmed its position in Chevron Corporation (NYSE:CVX - Free Report) by 12.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 239,956 shares of the oil and gas company's stock after selling 35,099 shares during the period. Chevron accounts for 1.4% of Wesbanco Bank Inc.'s portfolio, making the stock its 12th biggest position. Wesbanco Bank Inc.'s holdings in Chevron were worth $49,647,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CVX. Core Wealth Advisors LLC bought a new position in shares of Chevron in the 4th quarter worth about $26,000. Phillip James Consulting Co. purchased a new position in shares of Chevron during the fourth quarter valued at approximately $26,000. Basso Capital Management L.P. bought a new stake in shares of Chevron in the 4th quarter worth approximately $27,000. Karpus Management Inc. purchased a new stake in shares of Chevron in the 4th quarter worth approximately $27,000. Finally, Quattro Advisors LLC bought a new position in Chevron during the 4th quarter valued at approximately $27,000. Institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Bank of America boosted their target price on Chevron from $188.00 to $206.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. HSBC raised 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. Barclays upped their price target on shares of Chevron from $192.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 26th. BNP Paribas Exane raised shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price objective on the stock in a research report on Friday, April 17th. Finally, Zacks Research lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 8th. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $205.70.

Chevron Price Performance

CVX opened at $170.67 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The stock has a market capitalization of $339.91 billion, a P/E ratio of 29.58, a P/E/G ratio of 0.56 and a beta of 0.48. The company's 50-day simple moving average is $185.10 and its two-hundred day simple moving average is $179.78. Chevron Corporation has a 52-week low of $142.40 and a 52-week high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly 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. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter last year, the firm posted $2.18 EPS. The business's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, analysts predict that Chevron Corporation will post 15.88 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 4.2%. Chevron's dividend payout ratio (DPR) is currently 123.40%.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron expanded its upstream footprint by agreeing to take a majority stake and operatorship in Greece’s Southern Ionian Sea Block 10, a move that could add long-term exploration upside and strengthen its Eastern Mediterranean presence. Chevron (CVX) Expands Into Greece Block 10 While Venezuela Operations Stay Running
• Positive Sentiment: The company also announced a 20-year deal to supply natural gas to a Microsoft data center in West Texas, signaling a new avenue for stable, long-duration demand and potential growth from energy infrastructure tied to AI. Chevron, Microsoft deal fuels West Texas data center expansion
• Positive Sentiment: Chevron confirmed that its Venezuela operations remain safe and fully operational after the earthquakes, reducing near-term disruption risk while the company supports relief efforts. Chevron Confirms Safe Venezuela Operations After Major Earthquakes
• Neutral Sentiment: Chevron committed $1 million to earthquake relief in Venezuela, a humanitarian move that is unlikely to materially affect earnings but may support its reputation. Chevron Commits $1 Million to Support Earthquake Relief in Venezuela
• Neutral Sentiment: Reuters reported Chevron is exploring additional deals to power U.S. data centers, which suggests optionality and diversification, but no immediate financial impact was disclosed. Chevron eyes more deals to power US data centers
• Negative Sentiment: Investor caution rose after reports that the Trump administration ordered a DOJ probe into gasoline pricing at Chevron and other major oil companies, creating headline risk and possible regulatory overhang. Trump Orders DOJ Investigation Into Exxon (XOM) and Chevron (CVX) Over Gas Pump Pricing
• Negative Sentiment: Chevron’s CFO said gasoline prices should decline, but only with a lag, reinforcing concerns that near-term pricing and margins may remain uncertain if crude prices keep falling. Chevron CFO says gas prices will normalize after Trump presses Big Oil

Insider Buying and Selling

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the business's stock in a transaction on Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the sale, the insider directly owned 8,638 shares in the company, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hess sold 380,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares in the company, valued at $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 615,200 shares of company stock valued at $118,022,760. 0.56% of the stock is currently owned by insiders.

Chevron 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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