Hollow Brook Wealth Management LLC reduced its stake in Chevron Corporation (NYSE:CVX – Free Report) by 12.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,743 shares of the oil and gas company’s stock after selling 5,184 shares during the quarter. Chevron comprises approximately 1.4% of Hollow Brook Wealth Management LLC’s holdings, making the stock its 19th largest position. Hollow Brook Wealth Management LLC’s holdings in Chevron were worth $5,600,000 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. boosted its position in shares of 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 bought a new stake in shares of Chevron in the 4th quarter worth approximately $3,727,586,000. State Street Corp boosted its position in shares of Chevron by 9.1% in 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 in the last quarter. Primecap Management Co. CA bought a new position in Chevron in the 3rd quarter valued at approximately $988,083,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Chevron by 822.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock valued at $946,658,000 after acquiring an additional 5,537,580 shares in the last quarter. 72.42% of the stock is owned by institutional investors.
Insider Buying and Selling at Chevron
In other news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction on 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 of the company’s stock, valued at $1,842,485.40. The trade was a 82.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 615,200 shares of company stock valued at $118,022,760 over the last 90 days. 0.56% of the stock is currently owned by company insiders.
Chevron Price Performance
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 for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.18 EPS. On average, equities analysts anticipate that Chevron Corporation will post 15.88 EPS for the current year.
Chevron Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Barclays upped their price objective on Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 26th. Citigroup upped their price objective on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Sanford C. Bernstein lowered their price objective on Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a research report on Monday, May 11th. Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Finally, Bank of America upped their price objective on Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Eighteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $205.70.
View Our Latest Stock Analysis on Chevron
Trending Headlines about Chevron
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Chevron continues to look reasonably attractive to income-focused investors, with recent commentary highlighting its relatively low forward earnings multiple and the added production potential from the Hess acquisition, which expanded its exposure to Guyana and other key assets.
- Neutral Sentiment: Several headlines focused on broader market and energy-sector trends rather than Chevron-specific developments, including commentary on oil’s potential peak, Jim Cramer’s discussion of CVX, and general market rotation.
- Neutral Sentiment: Chevron also drew attention for ongoing institutional and analyst activity, with recent price targets clustered around the low-$200s and mixed fund flows that suggest Wall Street remains constructive overall but not uniformly bullish.
- Negative Sentiment: The main drag on Chevron has been the drop in crude prices after the U.S.-Iran deal framework, which reduced the geopolitical risk premium in oil and sparked broad selling across energy stocks. Article Title
- Negative Sentiment: Market commentary also noted that Chevron fell alongside peers such as Exxon and Occidental as oil prices slipped to multi-month lows, reinforcing that the move is being driven mainly by commodity weakness rather than a company-specific setback.
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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