Convergence Investment Partners LLC Decreases Stock Holdings in Chevron Corporation $CVX

Convergence Investment Partners LLC reduced its stake in shares of Chevron Corporation (NYSE:CVX) by 81.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,690 shares of the oil and gas company’s stock after selling 16,024 shares during the quarter. Convergence Investment Partners LLC’s holdings in Chevron were worth $562,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CVX. Vanguard Group Inc. lifted its stake in shares of Chevron by 17.9% during 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 during the last quarter. State Street Corp lifted its stake in shares of Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after purchasing an additional 12,789,399 shares during the last quarter. Primecap Management Co. CA purchased a new stake in shares of Chevron during the 3rd quarter worth $988,083,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Chevron by 822.0% during the 4th 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 purchasing an additional 5,537,580 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Chevron by 27.9% during the 3rd 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 last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 195,000 shares of the company’s stock in a transaction dated 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 sale, the director owned 658,045 shares in the company, valued at $121,593,555.10. This represents a 22.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the company’s stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the sale, the insider owned 8,638 shares in the company, valued at $1,842,485.40. The trade was a 82.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 803,570 shares of company stock valued at $151,969,798. 0.56% of the stock is owned by insiders.

Chevron Stock Up 2.3%

Shares of CVX stock opened at $190.91 on Friday. The stock’s 50-day simple moving average is $193.14 and its 200-day simple moving average is $173.26. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The firm has a market capitalization of $380.22 billion, a PE ratio of 33.09, a P/E/G ratio of 0.65 and a beta of 0.51. Chevron Corporation has a fifty-two week low of $133.77 and a fifty-two week high of $214.71.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $51.86 billion. During the same quarter in the prior year, the business earned $2.18 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. Equities analysts expect that Chevron Corporation will post 15.43 earnings per share for the current year.

Chevron Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CVX shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $190.00 target price on shares of Chevron in a research report on Monday, February 2nd. Wells Fargo & Company upped their target price on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Argus set a $203.00 target price on Chevron in a research report on Tuesday, February 3rd. Mizuho upped their target price on Chevron from $206.00 to $217.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $204.13.

Key Stories Impacting Chevron

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

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.