Pinnacle Associates Ltd. Has $29.46 Million Stake in Chevron Corporation $CVX

Pinnacle Associates Ltd. decreased its stake in shares of Chevron Corporation (NYSE:CVX) by 2.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 193,299 shares of the oil and gas company’s stock after selling 5,769 shares during the period. Pinnacle Associates Ltd.’s holdings in Chevron were worth $29,461,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. United Bank raised its holdings in shares of Chevron by 7.7% during the second quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after purchasing an additional 796 shares during the period. Schnieders Capital Management LLC. raised its holdings in shares of Chevron by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock valued at $7,280,000 after purchasing an additional 4,214 shares during the period. BNP Paribas raised its holdings in shares of Chevron by 76.4% during the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 191 shares during the period. Osterweis Capital Management Inc. raised its holdings in shares of Chevron by 678.9% during the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock valued at $195,000 after purchasing an additional 1,188 shares during the period. Finally, Main Street Financial Solutions LLC raised its holdings in shares of Chevron by 3.6% during the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock valued at $2,299,000 after purchasing an additional 553 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In related news, insider Andrew Benjamin Walz sold 11,600 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $188.58, for a total value of $2,187,528.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the completion of the sale, the insider directly owned 11,337 shares of the company’s stock, valued at $2,130,449.04. The trade was a 92.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 804,692 shares of company stock worth $152,174,418 in the last three months. 0.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Chevron from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Scotiabank raised their price objective on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 price objective on shares of Chevron in a research note on Tuesday, May 5th. Piper Sandler raised their price objective on Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Finally, Argus set a $203.00 price objective on Chevron in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $204.13.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Analysts and commentators are highlighting Chevron’s strong Q1 output growth, rising production, and improved high-margin oil assets, supporting a more optimistic outlook for 2026. Article Title
• Positive Sentiment: Jim Cramer said he likes Chevron, citing its 3.8% yield, strong cash flow, and what he sees as limited downside. Article Title
• Positive Sentiment: Reports that physical oil shortages may be starting could be a tailwind for Chevron if crude prices stay elevated. Article Title
• Neutral Sentiment: Proxy advisory firms are encouraging shareholders to oppose some board positions ahead of Chevron’s annual meeting, adding governance uncertainty. Article Title
• Neutral Sentiment: Some market commentary says Chevron has already run up sharply, raising valuation questions even as oil fundamentals improve. Article Title
• Negative Sentiment: One recent note argued investors are still focused on spending discipline across the oil sector, which can limit enthusiasm if Chevron’s capital allocation is seen as too aggressive. Article Title

Chevron Price Performance

CVX stock opened at $185.90 on Thursday. The company has a market capitalization of $370.24 billion, a P/E ratio of 32.22, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron Corporation has a 52-week low of $133.77 and a 52-week high of $214.71. The business has a 50-day simple moving average of $193.09 and a two-hundred day simple moving average of $172.92.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) 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 the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.18 EPS. Research analysts expect that Chevron Corporation will post 15.23 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. Chevron’s payout ratio is 123.40%.

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.