Magnetar Financial LLC Invests $5.55 Million in Chevron Corporation $CVX

Magnetar Financial LLC acquired a new stake in Chevron Corporation (NYSE:CVX) in the third quarter, Holdings Channel.com reports. The firm acquired 35,710 shares of the oil and gas company’s stock, valued at approximately $5,545,000.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Chevron by 17.9% in the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after purchasing an additional 27,961,463 shares in the last quarter. Norges Bank purchased a new position in shares of Chevron during the 2nd quarter valued at $2,721,477,000. Primecap Management Co. CA purchased a new position in shares of Chevron during the 3rd quarter valued at $988,083,000. Bank of New York Mellon Corp increased its holdings in shares of Chevron by 27.9% in 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 purchasing an additional 4,279,918 shares during the period. Finally, Laurel Wealth Advisors LLC increased its holdings in shares of Chevron by 14,194.2% in the second quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock worth $532,984,000 after purchasing an additional 3,696,177 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In related news, Vice Chairman Mark A. Nelson sold 139,600 shares of the firm’s stock in a transaction dated 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 directly owned 11,337 shares of the company’s stock, valued at approximately $2,130,449.04. This trade represents a 92.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Eimear P. Bonner sold 32,100 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $175.01, for a total value of $5,617,821.00. Following the completion of the sale, the chief financial officer owned 4,366 shares of the company’s stock, valued at $764,093.66. The trade was a 88.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,099,397 shares of company stock valued at $196,196,468 over the last 90 days. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CVX shares. Wells Fargo & Company lifted their price objective on Chevron from $196.00 to $204.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Mizuho upped their target price on Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Jefferies Financial Group raised their price target on Chevron from $174.00 to $189.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. Piper Sandler dropped their price target on Chevron from $178.00 to $174.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. Finally, Argus set a $203.00 price objective on Chevron in a report on Tuesday, February 3rd. Thirteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $178.95.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Oil prices climbed on escalating Strait of Hormuz risk and market concern over Middle East supply, which lifts revenue prospects for integrated producers like Chevron. The IEA to Release Record Amount of Oil From Reserves. Why Crude Prices Are Higher.
• Positive Sentiment: Chevron is reported to be closing in on major Venezuelan production deals alongside Shell — potential long?term volume upside if agreements are finalized. Chevron & Shell Eye Major Oil Deals to Revive Venezuela Output
• Positive Sentiment: Chevron was a top bidder in a U.S. Gulf of Mexico lease sale, signaling continued capital deployment into upstream capacity that could boost future production. BP, Chevron are top spenders at small US Gulf of Mexico oil and gas auction
• Positive Sentiment: Dividend and payout: Chevron paid a $1.78 quarterly dividend (a 4% increase), supporting demand from income?oriented investors. Chevron Pays $1.78 Dividend Today Backed by 39 Years of Unbroken Growth
• Neutral Sentiment: Macro and company rumors: reports of possible downstream or bolt?on interest (e.g., Brazil/Ipiranga) and analyst chatter keep M&A speculation alive but nothing definitive yet. Ultrapar Clarifies Media Report on Possible Chevron Deal for Ipiranga Stake
• Neutral Sentiment: Market volatility is the dominant driver — rapid swings tied to geopolitical headlines and mixed government statements are amplifying day?to?day moves for CVX. Here’s Why Oil Prices Are Surging Right Now
• Negative Sentiment: U.S. political discussion of tapping the Strategic Petroleum Reserve to lower consumer energy costs (Trump comments) could cap oil prices and pressure integrated producers’ near?term margins. Iran war: Trump says he’ll tap Strategic Petroleum Reserve to cut energy costs
• Negative Sentiment: Insider selling: a recent SEC filing shows a senior Chevron insider sold shares (~47,200 at ~$192) — some investors view such sales as a cue to reduce exposure. SEC Form 4 — Insider Sale
• Negative Sentiment: De?escalation headlines (expectations of a quick end to the Iran conflict) have previously triggered sharp crude pullbacks that pressured CVX after recent gains — reinforces downside risk on positive news fades. ExxonMobil and Chevron tumble as Trump predicts swift end to Iran conflict

Chevron Stock Performance

NYSE CVX opened at $191.73 on Thursday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $192.41. The company has a fifty day moving average of $175.61 and a 200-day moving average of $161.50. The company has a market capitalization of $382.57 billion, a P/E ratio of 28.79, a P/E/G ratio of 1.87 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The business had revenue of $45.79 billion for the quarter, compared to analysts’ expectations of $48.18 billion. During the same quarter in the prior year, the firm earned $2.06 earnings per share. The firm’s revenue was down 10.2% on a year-over-year basis. As a group, equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal 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 issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Tuesday, February 17th. This is an increase from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio (DPR) is currently 106.91%.

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.