Insider Selling: Chevron (NYSE:CVX) CEO Sells 272,624 Shares of Stock

Key Points

• CEO Michael Wirth sold 272,624 shares on March 2 at an average price of $189.35, totaling about $51.62 million and cutting his direct stake by 89.71 to 31,266 shares (filed on the SEC Form 4).
• Chevron raised its quarterly dividend to $1.78 from $1.71 (annualized $7.12) for a ~3.8% yield, though the payout ratio is elevated at 106.91%.
• Analyst sentiment is mixed: MarketBeat shows a consensus "Hold" with an average target of $178.95 (below the recent $186.09 trade), while several firms have raised targets to around $206 and issued buy/outperform ratings.

Chevron Corporation (NYSE:CVX - Get Free Report) CEO Michael Wirth sold 272,624 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The shares were 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 directly owned 31,266 shares in the company, valued at approximately $5,920,217.10. This represents a 89.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Chevron Stock Performance

NYSE:CVX traded down $2.68 on Wednesday, hitting $186.09. The company's stock had a trading volume of 11,037,073 shares, compared to its average volume of 12,072,181. Chevron Corporation has a one year low of $132.04 and a one year high of $191.56. The firm has a market capitalization of $371.32 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 12.55 and a beta of 0.67. The stock has a fifty day moving average of $171.08 and a two-hundred day moving average of $160.10. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

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 the consensus estimate of $1.44 by $0.08. The business had revenue of $45.79 billion for the quarter, compared to the consensus estimate of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. Chevron's revenue was down 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.06 earnings per share. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

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

Hedge Funds Weigh In On Chevron

Institutional investors have recently modified their holdings of the stock. Core Wealth Advisors LLC acquired a new position in shares of Chevron during the fourth quarter worth $26,000. Phillip James Consulting Co. purchased a new position in Chevron during the 4th quarter worth $26,000. Basso Capital Management L.P. acquired a new position in Chevron during the 4th quarter valued at about $27,000. Karpus Management Inc. purchased a new stake in Chevron in the fourth quarter valued at about $27,000. Finally, Quattro Advisors LLC acquired a new stake in Chevron in the fourth quarter worth about $27,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CVX has been the subject of several research analyst reports. Bank of America raised their target price on Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a research report on Monday. BMO Capital Markets restated an "outperform" rating and set a $190.00 price objective on shares of Chevron in a report on Monday, February 2nd. Sanford C. Bernstein boosted their target price on shares of Chevron from $170.00 to $172.00 and gave the company a "market perform" rating in a research note on Monday, January 5th. Mizuho raised their price target on shares of Chevron from $204.00 to $206.00 and gave the stock an "outperform" rating in a research note on Friday, December 12th. Finally, Piper Sandler dropped their price objective on Chevron from $178.00 to $174.00 and set an "overweight" rating on the stock in a research note on Thursday, January 8th. 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $178.95.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Geopolitical tension in the Middle East has pushed crude and natural-gas futures higher, creating a tailwind for integrated majors like Chevron by supporting margins and cash flow expectations. Read More.
• Positive Sentiment: Major brokerages and Wall Street research have been upbeat recently (upgraded price targets and bullish notes), reinforcing investor confidence in Chevron’s cash returns and long-term outlook. Read More.
• Positive Sentiment: Longer-term positioning by large investors (including increased exposure reported in recent institutional filings) and commentary highlighting Chevron’s scale and dividend profile support the stock’s medium-term appeal. Read More.
• Neutral Sentiment: Heightened retail and analyst attention has increased trading activity and headline sensitivity; that can amplify moves in either direction but doesn’t change fundamentals immediately. Read More.
• Negative Sentiment: Chevron halted production and declared force majeure at the Leviathan gas field after Israeli security orders tied to regional hostilities — an immediate operational disruption that creates uncertainty around near-term gas volumes and local cash flow. Read More.
• Negative Sentiment: Significant insider selling by R. Hewitt Pate (multiple large blocks disclosed in SEC filings) has likely contributed to near-term selling pressure and investor caution. Read More.
• Negative Sentiment: Broader geopolitical headlines (reports of Iranian contacts with U.S. counterparts and threats in the Strait of Hormuz) have increased market volatility and raised the risk premium on energy names despite higher commodity prices. Read More.

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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