Novem Group Sells 6,645 Shares of Chevron Corporation $CVX

Novem Group reduced its holdings in shares of Chevron Corporation (NYSE:CVX) by 74.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,243 shares of the oil and gas company’s stock after selling 6,645 shares during the period. Novem Group’s holdings in Chevron were worth $342,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Chevron by 17.9% during the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after buying an additional 27,961,463 shares during the last quarter. State Street Corp lifted its position in shares of Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after buying an additional 12,789,399 shares during the last quarter. Northern Trust Corp lifted its position in shares of Chevron by 15.3% during the 3rd quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company’s stock worth $3,528,890,000 after buying an additional 3,007,403 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Chevron by 1.6% during the 3rd quarter. Fisher Asset Management LLC now owns 21,152,060 shares of the oil and gas company’s stock worth $3,284,704,000 after buying an additional 325,255 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Chevron by 27.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock worth $3,047,900,000 after buying an additional 4,279,918 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CVX shares. Barclays increased their price target on Chevron from $172.00 to $180.00 and gave the company an “equal weight” rating in a research note on Monday, March 16th. Royal Bank Of Canada increased their price target on Chevron from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Freedom Capital cut Chevron from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 6th. Morgan Stanley increased their price target on Chevron from $174.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, March 27th. Finally, JPMorgan Chase & Co. upgraded Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price target for the company in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.09.

Chevron Price Performance

Shares of NYSE:CVX opened at $186.28 on Thursday. The firm has a market cap of $371.13 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 0.78 and a beta of 0.60. The firm’s fifty day moving average is $192.43 and its 200-day moving average is $169.71. 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 52 week low of $133.77 and a 52 week high of $214.71.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.08. The business had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.Chevron’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period last year, the company earned $2.06 EPS. Sell-side analysts predict that Chevron Corporation will post 12.49 earnings per share for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were given a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $7.12 annualized dividend and a yield of 3.8%. This is an increase from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio is 106.91%.

Insider Buying and Selling at Chevron

In related news, Vice Chairman Mark A. Nelson sold 139,600 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider directly owned 11,337 shares of the company’s stock, valued at $2,130,449.04. This trade represents a 92.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael K. Wirth sold 272,624 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the transaction, the chief executive officer directly owned 31,266 shares of the company’s stock, valued at approximately $5,920,217.10. This represents a 89.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 779,407 shares of company stock worth $145,972,971 over the last 90 days. Company insiders own 0.56% of the company’s stock.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Multiple broker and media pieces highlight bullish analyst views and upgrades on Chevron, arguing that tighter global inventories and conflict-driven supply disruptions could support higher oil prices and lift integrated majors like CVX. Read More.
• Positive Sentiment: BNP Paribas upgraded Chevron to Outperform (mid-April) and other lists (Warren Buffett picks, dividend stock roundups) continue to flag CVX as a core, income-generating energy holding — supportive for longer-term investor demand. Read More.
• Positive Sentiment: Scotiabank raised its price target to $187 (from $168) — a modest upward revision that reinforces near-term analyst support for the stock. Read More.
• Neutral Sentiment: Geopolitical developments — U.S. moves affecting Venezuela and Iran’s disruption of the Strait of Hormuz — are reshaping risk/valuation for global producers. This increases the strategic value of Chevron’s non-Middle East assets and could boost realized prices, but also raises volatility. Read More.
• Neutral Sentiment: Sector news and peer earnings (Range Resources, Halliburton) show mixed operational results and stronger gas realizations in places — helpful for sector sentiment but not CVX-specific. Read More.
• Neutral Sentiment: Industry events and trade press (summits, energy transition projects) keep broader investor focus on energy supply dynamics and transition risks; useful context but indirect for immediate CVX moves. Read More.
• Negative Sentiment: Chevron reported a crude oil spill at its Pasadena, Texas refinery — an operational and reputational risk that can trigger cleanup costs, regulatory scrutiny and short-term investor concern. This is a near-term negative that could pressure sentiment until impact and remediation are clarified. Read More.

Chevron Company 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.