Chevron Corporation $CVX Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC lifted its stake in Chevron Corporation (NYSE:CVX) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 491,447 shares of the oil and gas company’s stock after purchasing an additional 17,850 shares during the quarter. Gabelli Funds LLC’s holdings in Chevron were worth $74,901,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVX. Vanguard Group Inc. increased its holdings in shares of Chevron by 17.9% in the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after purchasing an additional 27,961,463 shares during the last quarter. State Street Corp increased its stake in Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after acquiring an additional 12,789,399 shares during the last quarter. Primecap Management Co. CA acquired a new stake in Chevron during the third quarter worth $988,083,000. Northwestern Mutual Wealth Management Co. increased its stake in Chevron by 822.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock worth $946,658,000 after acquiring an additional 5,537,580 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Chevron by 27.9% during the third quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock worth $3,047,900,000 after acquiring an additional 4,279,918 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 target price on shares of Chevron in a research note on Tuesday, May 5th. Argus set a $203.00 price objective on Chevron in a research note on Tuesday, February 3rd. Citigroup lifted their price objective on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. UBS Group lifted their target price on Chevron from $218.00 to $220.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $204.13.

Chevron Stock Down 0.1%

Shares of NYSE CVX opened at $190.91 on Monday. Chevron Corporation has a 1 year low of $133.77 and a 1 year high of $214.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The company has a market capitalization of $380.22 billion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 0.64 and a beta of 0.51. The business has a 50-day moving average of $193.14 and a two-hundred day moving average of $173.38.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the previous year, the business earned $2.18 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts forecast that Chevron Corporation will post 15.43 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be given a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.7%. Chevron’s payout ratio is presently 123.40%.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell its Singapore refining stake and other Asia-Pacific downstream assets to ENEOS for roughly $2.17 billion, reinforcing its strategy to streamline the portfolio and potentially improve returns. Reuters article on ENEOS buying Chevron assets
• Positive Sentiment: Another report framed Chevron’s recent earnings as less weak than the headline numbers suggested, noting that the company’s share price did not fall sharply after the results, which may indicate investors are focusing on underlying cash generation and strategic actions rather than the revenue miss. Yahoo Finance article on Chevron earnings
• Neutral Sentiment: Market commentary this week also compared Chevron with TotalEnergies and discussed broader oil-sector themes, but those pieces were more about sector positioning than a direct new fundamental change for Chevron. Motley Fool comparison article
• Negative Sentiment: Chevron’s latest quarter was mixed, with earnings per share beating estimates but revenue coming in below expectations, which could temper enthusiasm if investors refocus on operating performance rather than asset sales. Chevron stock background

Insider Activity at Chevron

In other Chevron news, Vice Chairman Mark A. Nelson sold 139,600 shares of the business’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 transaction of $26,233,632.00. Following the transaction, the insider owned 11,337 shares in the company, valued at approximately $2,130,449.04. The trade was a 92.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John B. Hess sold 195,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $184.78, for a total value of $36,032,100.00. Following the transaction, the director owned 658,045 shares in the company, valued at $121,593,555.10. The trade was a 22.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 803,570 shares of company stock worth $151,969,798 in the last three months. 0.56% of the stock is currently owned by corporate 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.