Chevron Corporation $CVX Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its position in Chevron Corporation (NYSE:CVX) by 1.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 489,639 shares of the oil and gas company’s stock after selling 5,900 shares during the period. Chevron makes up approximately 0.5% of State of Michigan Retirement System’s investment portfolio, making the stock its 29th biggest position. State of Michigan Retirement System’s holdings in Chevron were worth $101,306,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Compton Financial Group LLC boosted its holdings in Chevron by 1.9% in the first quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock valued at $609,000 after purchasing an additional 56 shares during the last quarter. Quantum Portfolio Management LLC grew its stake in Chevron by 2.7% during the 1st quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock valued at $435,000 after purchasing an additional 56 shares in the last quarter. D.B. Root & Company LLC increased its holdings in Chevron by 1.0% during the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock worth $846,000 after purchasing an additional 57 shares during the last quarter. Chatterton & Associates Inc. increased its holdings in Chevron by 1.7% during the 1st quarter. Chatterton & Associates Inc. now owns 3,427 shares of the oil and gas company’s stock worth $652,000 after purchasing an additional 57 shares during the last quarter. Finally, First United Bank & Trust raised its position in shares of Chevron by 0.5% in the 1st quarter. First United Bank & Trust now owns 12,532 shares of the oil and gas company’s stock valued at $2,593,000 after purchasing an additional 57 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Oil prices jumped after renewed U.S.-Iran tensions and a tougher stance on the Strait of Hormuz, boosting expectations for stronger cash flow and earnings for large integrated producers like Chevron. Oil Surges As Trump Asserts Control Over Strait Of Hormuz; What Happens Now
• Positive Sentiment: Chevron extended its gas supply agreement with Alinta Energy through 2032, reinforcing long-term demand visibility and underscoring the company’s role in regional energy security. Chevron Extends WA Gas Supply Deal With Alinta Energy Through 2032
• Positive Sentiment: Analysts are highlighting Chevron’s potential for a free-cash-flow surge in the second half of 2026, which could support shareholder returns and valuation. Chevron (CVX) Looks Ready for a Free Cash Flow Surge in H2 2026
• Positive Sentiment: Chevron’s joint venture with GE Vernova could benefit from rising electricity demand tied to AI data centers, giving the stock an additional growth narrative beyond traditional oil prices. Does Chevron’s Joint Venture With GE Vernova Make the Stock a Buy Ahead of 2027?
• Neutral Sentiment: Industry reports say Chevron is among major oil companies preparing to explore offshore Uruguay, which is a longer-term opportunity but not an immediate earnings driver. Uruguay’s Offshore Oil Province Could Be Bigger Than Vaca Muerta
• Neutral Sentiment: Other coverage noting Chevron’s recent share strength and valuation commentary is broadly supportive, but does not add a major new catalyst on its own. Chevron (NYSE:CVX) Trading 1.3% Higher – Still a Buy?

Insider Buying and Selling at Chevron

In related 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 sale, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVX. BNP Paribas Exane raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target for the company in a research report on Friday, April 17th. UBS Group restated a “buy” rating on shares of Chevron in a research note on Tuesday, June 23rd. Weiss Ratings cut shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research note on Thursday, July 2nd. Finally, Mizuho raised their price objective on shares of Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Nineteen 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, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.83.

Chevron Trading Up 3.2%

NYSE:CVX opened at $182.09 on Tuesday. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The firm has a market capitalization of $362.66 billion, a P/E ratio of 31.56, a P/E/G ratio of 0.60 and a beta of 0.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The business has a 50 day simple moving average of $181.68 and a 200 day simple moving average of $181.73.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the prior year, the business earned $2.18 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. Equities research analysts predict that Chevron Corporation will post 15.28 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. Chevron’s dividend payout ratio is currently 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.