The Manufacturers Life Insurance Company Buys 33,117 Shares of Chevron Corporation $CVX

The Manufacturers Life Insurance Company raised its position in shares of Chevron Corporation (NYSE:CVX) by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,487,550 shares of the oil and gas company’s stock after acquiring an additional 33,117 shares during the period. The Manufacturers Life Insurance Company’s holdings in Chevron were worth $307,774,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its stake in 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 valued at $23,698,184,000 after purchasing an additional 12,789,399 shares during the period. Berkshire Hathaway Inc lifted its holdings in shares of Chevron by 6.6% during the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after buying an additional 8,091,570 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Chevron by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after acquiring an additional 134,890 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock valued at $5,492,377,000 after acquiring an additional 961,341 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Chevron in the fourth quarter valued at about $3,727,586,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.56% of the company’s stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron raised its quarterly dividend, extending its decades-long streak of dividend increases and reinforcing its appeal to income-focused investors. Chevron lifts quarterly dividend
• Positive Sentiment: A Chevron subsidiary awarded Velesto a multiyear, $51 million drilling contract for the North Malay Basin gas development in Malaysia. The agreement supports Chevron’s offshore growth plans, although its direct financial impact is likely modest relative to the company’s overall scale. Chevron North Malay Basin contract
• Neutral Sentiment: CEO Mike Wirth reportedly met with U.S. officials about protecting Chevron’s Kazakhstan oil assets from becoming entangled in the Russia-Ukraine war. The discussions highlight the strategic importance of the assets but also underscore geopolitical and regulatory risks. Chevron Kazakhstan assets discussions
• Negative Sentiment: Brent crude settled 12% lower at $86.49 per barrel, while West Texas Intermediate fell 7.5% to $82.61, after President Trump suggested a potential breakthrough with Iran. Lower oil prices can pressure Chevron’s upstream revenue, cash flow and earnings expectations. Oil prices slide on Iran negotiations
• Negative Sentiment: The broader energy sector also declined as crude prices weakened, while investors favored technology and AI-related stocks ahead of major earnings reports. This sector rotation added to selling pressure on Chevron. Energy sector update

Chevron Stock Performance

Shares of Chevron stock opened at $189.84 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The company has a market cap of $378.09 billion, a PE ratio of 32.90, a price-to-earnings-growth ratio of 0.65 and a beta of 0.50. The company has a 50 day moving average of $181.99 and a 200-day moving average of $184.20. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71.

Chevron (NYSE:CVX) last announced its quarterly earnings data 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. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. During the same period last year, the firm posted $2.18 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron Corporation will post 15.6 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Tuesday, May 19th. Chevron’s payout ratio is currently 123.40%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Mizuho lifted their price objective on shares of Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. UBS Group restated a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $216.00 price target on shares of Chevron in a research report on Wednesday, May 6th. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. Finally, Sanford C. Bernstein dropped their price objective on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a report on Monday, May 11th. Nineteen investment 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.17.

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.