Cullen Capital Management LLC lowered its stake in Chevron Corporation (NYSE:CVX – Free Report) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 870,778 shares of the oil and gas company’s stock after selling 22,993 shares during the period. Cullen Capital Management LLC’s holdings in Chevron were worth $132,715,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Core Wealth Advisors LLC purchased a new position in Chevron in the fourth quarter worth about $26,000. Strategic Wealth Advisors LLC purchased a new position in Chevron in the fourth quarter worth about $33,000. Daytona Street Capital LLC purchased a new position in Chevron in the fourth quarter worth about $44,000. Maseco LLP purchased a new position in Chevron in the fourth quarter worth about $49,000. Finally, Turning Point Benefit Group Inc. purchased a new position in Chevron in the third quarter worth about $49,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.
Key Headlines Impacting Chevron
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
Chevron Stock Up 0.6%
Chevron (NYSE:CVX – Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) 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 analyst estimates of $51.86 billion. During the same quarter in the previous year, the business earned $2.18 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts predict that Chevron Corporation will post 15.88 EPS for the current year.
Chevron Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid 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 of this dividend was Tuesday, May 19th. Chevron’s payout ratio is currently 123.40%.
Insider Activity at Chevron
In other news, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the sale, the insider owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 615,200 shares of company stock valued at $118,022,760 in the last ninety days. Insiders own 0.56% of the company’s stock.
Analysts Set New Price Targets
CVX has been the subject of several recent research reports. Melius Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a research report on Tuesday, February 17th. Weiss Ratings lowered Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. The Goldman Sachs Group restated a “buy” rating and set a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. Scotiabank boosted their target price on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, TD Cowen boosted their target price on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.70.
Get Our Latest Analysis on CVX
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.
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