Martingale Asset Management L P Grows Position in Chevron Corporation $CVX

Martingale Asset Management L P raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 173,959 shares of the oil and gas company’s stock after purchasing an additional 3,340 shares during the quarter. Martingale Asset Management L P’s holdings in Chevron were worth $26,513,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Chevron by 17.9% during 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 lifted its holdings 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 valued at $23,698,184,000 after purchasing an additional 12,789,399 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Chevron by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after purchasing an additional 134,890 shares during the last quarter. Norges Bank purchased a new stake in Chevron during the fourth quarter valued at about $3,727,586,000. Finally, Northern Trust Corp lifted its holdings in Chevron by 15.3% during the third quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company’s stock valued at $3,528,890,000 after purchasing an additional 3,007,403 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.6%

Shares of CVX opened at $186.96 on Friday. The business’s 50-day moving average price is $188.75 and its 200-day moving average price is $178.06. Chevron Corporation has a twelve month low of $142.40 and a twelve month high of $214.71. The stock has a market cap of $372.34 billion, a PE ratio of 32.40, a P/E/G ratio of 0.61 and a beta of 0.48. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last announced its quarterly 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 firm had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. During the same period in the prior year, the business posted $2.18 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron reportedly joined YPF and Pluspetrol in backing TGS’s $3 billion Argentina NGL project, improving the odds of a final investment decision and signaling another potential growth avenue for Chevron outside its core assets. Chevron and Partners to Support TGS-Led Argentina NGL Project
• Positive Sentiment: CEO Mike Wirth said Chevron is still looking at new opportunities in the Middle East and could expand its regional exposure, reinforcing the company’s growth optionality in a strategic energy market. Chevron continues to look at new opportunities in Middle East, CEO says
• Positive Sentiment: Analyst commentary remained constructive, with Erste Group raising FY2026 and FY2027 earnings estimates for Chevron, suggesting expectations for solid profitability remain intact.
• Positive Sentiment: Multiple articles highlighted Chevron as a high-yield, value-oriented energy name, which may be supporting demand from income and valuation-focused investors.
• Neutral Sentiment: Chevron’s CEO pushed back on claims about Persian Gulf oil flow volumes, while U.S. crude inventories continue to decline; this adds uncertainty but does not clearly change Chevron’s fundamental outlook. U.S. energy secretary says 7 million barrels of oil exiting Persian Gulf daily, but Chevron CEO rebuts the claim
• Neutral Sentiment: Separate commentary on Chevron’s valuation and broader energy-sector strength points to ongoing momentum, but these pieces are more supportive of the stock’s longer-term case than a direct near-term catalyst. Assessing Chevron (CVX) Valuation After Recent Gains And Mixed Undervaluation Signals
• Negative Sentiment: Oil prices fell to their lowest level since early March as markets priced in potentially higher Strait of Hormuz flows and progress toward an interim peace deal, which can pressure Chevron’s upstream earnings expectations. Oil Hits Lowest Since Early March on Potential Hormuz Reopening

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CVX shares. Wells Fargo & Company upped their price objective on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Barclays upped their price target on Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 26th. Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research report on Friday, March 20th. Finally, Tudor Pickering upgraded Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target on the stock in a research report on Thursday, April 9th. Eighteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $205.70.

Insider Activity at Chevron

In related news, insider R. Hewitt Pate sold 40,200 shares of the company’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the transaction, the insider directly owned 8,638 shares in the company, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 615,200 shares of company stock worth $118,022,760. 0.56% of the stock is owned by company 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.