Bessemer Group Inc. Sells 708,402 Shares of Chevron Corporation $CVX

Bessemer Group Inc. decreased its stake in shares of Chevron Corporation (NYSE:CVX) by 19.2% in the 4th quarter, Holdings Channel reports. The fund owned 2,987,851 shares of the oil and gas company’s stock after selling 708,402 shares during the quarter. Chevron accounts for approximately 0.7% of Bessemer Group Inc.’s investment portfolio, making the stock its 23rd biggest position. Bessemer Group Inc.’s holdings in Chevron were worth $455,379,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Strategic Wealth Advisors LLC bought a new stake in shares of Chevron during the fourth quarter worth $33,000. Daytona Street Capital LLC bought a new stake in shares of Chevron during the fourth quarter worth $44,000. Turning Point Benefit Group Inc. bought a new stake in shares of Chevron during the third quarter worth $49,000. Maseco LLP bought a new stake in shares of Chevron during the fourth quarter worth $49,000. Finally, High Point Wealth Management LLC bought a new stake in shares of Chevron during the fourth quarter worth $53,000. Institutional investors own 72.42% of the company’s stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell its Singapore refinery stake and other downstream assets in Southeast Asia and Australia to ENEOS for about $2.17 billion to $2.2 billion. Investors often view asset sales like this as a way to streamline the portfolio, raise cash, and focus on higher-return operations. Article Title
• Positive Sentiment: Jim Cramer reiterated a bullish view on Chevron, saying he would “pull the trigger” on the stock and pointing to its strong cash flow and dividend yield. That kind of media endorsement can reinforce investor confidence. Article Title
• Positive Sentiment: Several market commentaries noted renewed optimism around Chevron’s rising production and strong cash returns, with some analysts saying its Q1 output growth supports the investment case. Article Title
• Neutral Sentiment: Weak statutory earnings from Chevron’s latest report were described as not telling the whole story, suggesting the market is focusing more on underlying cash generation and asset quality than on the headline earnings miss. Article Title
• Neutral Sentiment: Proxy advisory firms recommended some shareholder votes against Chevron’s board positions ahead of the annual meeting, which adds governance noise but is less likely to drive the stock in the near term. Article Title
• Negative Sentiment: Morgan Stanley reportedly trimmed its enthusiasm for oil stocks, emphasizing spending discipline as a key issue for Chevron and peers. Concerns about capital allocation can weigh on sentiment even when oil prices are favorable. Article Title

Insider Buying and Selling

In other news, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the completion of the transaction, the insider 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 legal filing with the SEC, which is available at this link. Also, insider R. Hewitt Pate sold 58,000 shares of Chevron stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $188.65, for a total transaction of $10,941,700.00. Following the completion of the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 803,570 shares of company stock worth $151,969,798. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Argus set a $203.00 price objective on shares of Chevron in a research report on Tuesday, February 3rd. BMO Capital Markets reissued an “outperform” rating and set a $190.00 price objective on shares of Chevron in a research report on Monday, February 2nd. Barclays raised their target price on shares of Chevron from $180.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Citigroup raised their target price on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Finally, HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a research report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $204.13.

Chevron Stock Up 0.2%

Chevron stock opened at $186.41 on Friday. The company has a market cap of $371.25 billion, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. Chevron Corporation has a 1-year low of $133.77 and a 1-year high of $214.71. The company has a fifty day simple moving average of $193.04 and a 200 day simple moving average of $173.13. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.18 earnings per share. Research analysts anticipate that Chevron Corporation will post 15.23 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is 123.40%.

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.