Franklin Resources Inc. Buys 238,507 Shares of Chevron Corporation $CVX

Franklin Resources Inc. grew its position in shares of Chevron Corporation (NYSE:CVX) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,003,096 shares of the oil and gas company’s stock after buying an additional 238,507 shares during the quarter. Chevron accounts for approximately 0.7% of Franklin Resources Inc.’s holdings, making the stock its 24th largest position. Franklin Resources Inc.’s holdings in Chevron were worth $2,795,701,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Decker Retirement Planning Inc. purchased a new stake in Chevron during the third quarter valued at $34,000. Vermillion & White Wealth Management Group LLC lifted its holdings in Chevron by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 118 shares during the period. Marquette Asset Management LLC purchased a new position in Chevron in the third quarter worth about $41,000. Barnes Dennig Private Wealth Management LLC grew its stake in shares of Chevron by 306.1% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 202 shares during the period. Finally, Traub Capital Management LLC bought a new stake in shares of Chevron during the 2nd quarter valued at about $46,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 1.6%

CVX stock opened at $186.38 on Wednesday. The business’s 50-day moving average price is $174.83 and its 200-day moving average price is $161.29. The stock has a market cap of $371.89 billion, a P/E ratio of 27.98, a PEG ratio of 1.91 and a beta of 0.67. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $192.41.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The company had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. During the same period in the prior year, the firm posted $2.06 EPS. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, February 17th. This is a positive change from Chevron’s previous quarterly dividend of $1.71. Chevron’s payout ratio is 106.91%.

Insider Activity

In related news, insider R. Hewitt Pate sold 47,200 shares of Chevron stock in a transaction on Friday, March 6th. The shares were sold at an average price of $192.12, for a total transaction of $9,068,064.00. Following the transaction, the insider owned 8,558 shares in the company, valued at approximately $1,644,162.96. The trade was a 84.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael K. Wirth sold 272,624 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the completion of the transaction, the chief executive officer directly owned 31,266 shares of the company’s stock, valued at $5,920,217.10. This represents a 89.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,099,397 shares of company stock worth $196,196,468. 0.20% of the stock is currently owned by insiders.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron confirmed a quarterly dividend of $1.78 per share (a 4% increase), continuing its multi?decade dividend-growth record — a steady income driver that supports demand for CVX shares. Chevron Pays $1.78 Dividend Today
• Positive Sentiment: Chevron secured a five?year gas supply deal with Horizon Power (14 PJ), reinforcing contracted cash flow and regional supply position in Western Australia. Chevron Secures Long-Term Gas Supply Deal
• Neutral Sentiment: Reports that Chevron was in talks to buy a stake in Brazil’s Ipiranga elevated M&A upside, but Ultrapar later issued a clarification about media reports — leaving deal prospects uncertain. Ultrapar Clarifies Media Report
• Neutral Sentiment: Earlier coverage (Reuters) said Ultrapar tapped BTG to explore an Ipiranga stake sale with reported Chevron interest — potential strategic upside if pursued, but not confirmed. Reuters: Ultrapar Taps BTG
• Negative Sentiment: Energy headlines drove intraday swings: Trump’s comment predicting a quick Iran conflict end and a false government social post caused oil to tumble after an earlier spike — that volatility pressured oil majors, including Chevron. Oil Prices Bounce As Iran Blockade Holds
• Negative Sentiment: Large insider selling was disclosed: R. Hewitt Pate sold ~47,200 shares at about $192 — a high-value sale that can undermine sentiment even if not company?wide. SEC Form 4
• Negative Sentiment: Analyst and market commentary is mixed-to-cautious: pieces warning of a market top or that “smart money” is rethinking Chevron add to selling pressure. Seeking Alpha: Avoid Market Top Yahoo: Why the Smart Money May Be Abandoning
• Negative Sentiment: Operational/regulatory headlines — reports about suspending production at the Leviathan field and Chevron’s public clash with California policy makers — add localized risk narratives that can weigh on sentiment. InsiderMonkey: Leviathan Suspension Benzinga: Chevron Slams Newsom Policy

Wall Street Analyst Weigh In

CVX has been the subject of several research reports. Jefferies Financial Group upped their price target on shares of Chevron from $174.00 to $189.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $180.00 target price for the company. in a research report on Monday, February 2nd. Citigroup upped their target price on shares of Chevron from $179.00 to $210.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Wells Fargo & Company increased their price target on shares of Chevron from $196.00 to $204.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Finally, Piper Sandler dropped their price target on shares of Chevron from $178.00 to $174.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $178.95.

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.