Chevron Corporation $CVX Shares Sold by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC reduced its position in Chevron Corporation (NYSE:CVX) by 17.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,186 shares of the oil and gas company’s stock after selling 15,411 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in Chevron were worth $11,054,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vishria Bird Financial Group LLC increased its stake in Chevron by 1.2% during the third quarter. Vishria Bird Financial Group LLC now owns 5,285 shares of the oil and gas company’s stock worth $821,000 after acquiring an additional 65 shares during the last quarter. Nexus Investment Management ULC lifted its stake in shares of Chevron by 0.9% in the 3rd quarter. Nexus Investment Management ULC now owns 7,641 shares of the oil and gas company’s stock valued at $1,187,000 after purchasing an additional 65 shares in the last quarter. Scott & Selber Inc. lifted its stake in shares of Chevron by 0.5% in the 3rd quarter. Scott & Selber Inc. now owns 13,391 shares of the oil and gas company’s stock valued at $2,079,000 after purchasing an additional 65 shares in the last quarter. White Knight Strategic Wealth Advisors LLC grew its holdings in shares of Chevron by 3.0% during the 2nd quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock worth $319,000 after purchasing an additional 65 shares during the period. Finally, William B. Walkup & Associates Inc. increased its position in Chevron by 1.0% during the 3rd quarter. William B. Walkup & Associates Inc. now owns 6,356 shares of the oil and gas company’s stock worth $987,000 after purchasing an additional 66 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Sanford C. Bernstein raised their price target on shares of Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a report on Monday, January 5th. Mizuho boosted their price objective on shares of Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Bank of America increased their price objective on shares of Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Argus set a $203.00 target price on shares of Chevron in a research note on Tuesday, February 3rd. Finally, TD Cowen lifted their target price on shares of Chevron from $160.00 to $168.00 and gave the company a “hold” rating in a report on Monday, February 2nd. Thirteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Chevron has a consensus rating of “Hold” and an average target price of $182.05.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Piper Sandler raised its price target and reiterated an “overweight” stance on CVX, giving institutional investors a fresh bullish valuation reference. Benzinga
• Positive Sentiment: Macro support: oil prices and geopolitical risk in the Middle East have pushed Chevron to new highs this week, lifting sentiment for integrated producers that benefit from higher crude. MarketBeat
• Positive Sentiment: Gulf of Mexico expansion: Chevron increased its footprint in the recent lease sale/auction, signaling continued investment in U.S. deepwater growth. Yahoo Finance
• Positive Sentiment: Project development: Chevron Cyprus has advanced a Cyprus offshore gas project (Worley awarded FEED), indicating future production & gas sales potential in the Eastern Med. TipRanks
• Positive Sentiment: Heavy bullish options flow: an unusual spike in call buying shows short‑term speculative/hedging interest that can amplify upward moves.
• Neutral Sentiment: Gorgon/LNG ownership shifts: MidOcean’s move to increase a stake in Gorgon LNG reflects ongoing portfolio shifts in Australian LNG, where Chevron is a long‑standing partner — monitor implications for JV economics. Offshore‑Technology
• Neutral Sentiment: Venezuela opportunity remains in play: reports that Chevron and Shell are nearing deals to revive Venezuelan production are positive long‑term but remain uncertain and subject to regulatory/geopolitical timing. MSN/Reuters
• Negative Sentiment: Insider selling: an SEC filing shows R. Hewitt Pate sold 47,200 shares recently — while insider sales can be routine, some investors interpret them as a signal to reduce exposure near rally highs. SEC Form 4
• Negative Sentiment: Regulatory hit: Chevron agreed to a DOJ settlement (about $1M penalty and retirement of ~$3.6M in invalid renewable credits) — small financially but a reputational/legal reminder. Benzinga
• Negative Sentiment: Asset sale in Angola: Energean’s acquisition of Chevron stakes in offshore Angolan blocks reduces CVX near‑term production exposure in that region; impact depends on sale price and redeployment of proceeds. Offshore‑Technology

Chevron Trading Up 2.9%

CVX opened at $197.31 on Friday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $198.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. The stock has a market capitalization of $393.71 billion, a PE ratio of 29.63, a P/E/G ratio of 1.93 and a beta of 0.67. The firm’s fifty day moving average price is $176.51 and its 200 day moving average price is $161.75.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.08. The company had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period last year, the business earned $2.06 EPS. As a group, research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. This is a positive change from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date was Tuesday, February 17th. Chevron’s payout ratio is 106.91%.

Insider Transactions at Chevron

In other Chevron news, Vice Chairman Mark A. Nelson sold 139,600 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the sale, the insider owned 11,337 shares in the company, valued at $2,130,449.04. This represents a 92.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Alana K. Knowles sold 2,408 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $183.28, for a total value of $441,338.24. The disclosure for this sale is available in the SEC filing. Insiders sold 1,099,397 shares of company stock valued at $196,196,468 over the last 90 days. Corporate insiders own 0.21% of the company’s stock.

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.