Nordea Investment Management AB Boosts Position in Chevron Corporation $CVX

Nordea Investment Management AB grew its position in Chevron Corporation (NYSE:CVX) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 488,482 shares of the oil and gas company’s stock after buying an additional 19,108 shares during the quarter. Nordea Investment Management AB’s holdings in Chevron were worth $74,103,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. Vanguard Group Inc. grew its stake in 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 valued at $28,540,753,000 after acquiring an additional 27,961,463 shares during the last quarter. State Street Corp raised its position in Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after acquiring an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc lifted its holdings in shares of Chevron by 2.9% in the second quarter. Berkshire Hathaway Inc now owns 122,064,792 shares of the oil and gas company’s stock valued at $17,478,458,000 after purchasing an additional 3,454,258 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Chevron by 15.3% in the third quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company’s stock valued at $3,528,890,000 after purchasing an additional 3,007,403 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Chevron by 1.6% in the third quarter. Fisher Asset Management LLC now owns 21,152,060 shares of the oil and gas company’s stock valued at $3,284,704,000 after purchasing an additional 325,255 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, insider R. Hewitt Pate sold 58,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $188.65, for a total value of $10,941,700.00. Following the sale, the insider directly owned 8,558 shares of the company’s stock, valued at approximately $1,614,466.70. This trade represents a 87.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael K. Wirth sold 320,700 shares of Chevron stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $162.99, for a total value of $52,270,893.00. Following the completion of the sale, the chief executive officer owned 14,450 shares of the company’s stock, valued at $2,355,205.50. This trade represents a 95.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,099,397 shares of company stock valued at $196,196,468. 0.20% of the stock is owned by corporate insiders.

Chevron Stock Up 1.7%

Shares of NYSE CVX opened at $205.12 on Tuesday. The firm has a market cap of $409.30 billion, a P/E ratio of 30.80, a price-to-earnings-growth ratio of 1.87 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $205.36. The firm’s 50 day moving average price is $182.17 and its 200 day moving average price is $163.78.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.08. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The company had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. During the same period in the previous year, the firm posted $2.06 EPS. Chevron’s revenue was down 10.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were paid a $1.78 dividend. The ex-dividend date was Tuesday, February 17th. This is an increase from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a yield of 3.5%. Chevron’s payout ratio is currently 106.91%.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: CEO Mike Wirth warned at CERAWeek that markets are underestimating the supply shock from the Strait of Hormuz closure, saying futures trade on “scant information” and that physical supply recovery will take time — comments that support a higher-oil-price thesis and boost Chevron’s near-term revenue outlook. Energy Markets Should Be More Worried, Chevron’s CEO Says
• Positive Sentiment: Multiple reports (CNBC, Reuters, Fortune) echoed Wirth’s message that the market hasn’t fully priced Iran-related disruptions — reinforcing trader flows into oil names and benefitting integrated producers like Chevron. Chevron CEO says Iran war impact isn’t fully priced into oil market
• Positive Sentiment: Analysts and sector pieces are highlighting Chevron as a beneficiary of U.S. LNG export demand and global supply tightness, which supports longer-term cash generation beyond upstream crude exposure. 3 Best US LNG Stocks to Focus on Amid Global Supply Crunch
• Neutral Sentiment: Wirth said Chevron has raised Venezuelan output recently but that large-scale investment needs clearer legal/regulatory changes — a potential long-term upside if reforms stick, but uncertain and capital-intensive. Chevron CEO: More Groundwork Needed to Boost Venezuelan Oil Production
• Positive Sentiment: HSBC reportedly upgraded Chevron, which can lift investor sentiment and help support the rally amid energy-sector rotation. Chevron Upgraded at HSBC
• Negative Sentiment: Geopolitical easing headlines — notably reports the U.S. paused planned strikes and engaged in talks with Iran — triggered a sharp drop in oil prices earlier, which can pressure short-term sentiment for oil producers including Chevron. Trump Pauses Iran Energy Strikes for 5 Days

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CVX shares. Jefferies Financial Group lifted their price objective on Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Argus set a $203.00 target price on Chevron in a report on Tuesday, February 3rd. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Citigroup upped their price objective on Chevron from $179.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Finally, Piper Sandler increased 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. Fourteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Hold” and an average price target of $184.77.

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.