Spinnaker Trust Sells 19,294 Shares of Chevron Corporation $CVX

Spinnaker Trust trimmed its position in Chevron Corporation (NYSE:CVX) by 38.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 30,377 shares of the oil and gas company’s stock after selling 19,294 shares during the period. Spinnaker Trust’s holdings in Chevron were worth $6,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Chevron in the fourth quarter valued at about $3,727,586,000. State Street Corp raised its stake in Chevron by 9.1% in 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 purchasing an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc raised its stake in Chevron by 6.6% in the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after purchasing an additional 8,091,570 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Chevron by 822.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock valued at $946,658,000 after purchasing an additional 5,537,580 shares during the period. Finally, Amundi boosted its holdings in Chevron by 41.8% in the 3rd quarter. Amundi now owns 11,760,376 shares of the oil and gas company’s stock valued at $1,811,333,000 after purchasing an additional 3,464,058 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE:CVX opened at $165.70 on Thursday. The firm has a 50 day moving average of $183.99 and a 200-day moving average of $180.34. Chevron Corporation has a 12 month low of $145.47 and a 12 month high of $214.71. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $330.01 billion, a PE ratio of 28.72, a PEG ratio of 0.55 and a beta of 0.50.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $2.18 EPS. On average, equities research analysts predict that Chevron Corporation will post 15.52 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 4.3%. Chevron’s dividend payout ratio is presently 123.40%.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was 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 approximately $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. BNP Paribas Exane raised Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective for the company in a report on Friday, April 17th. UBS Group reaffirmed a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Finally, Mizuho upped their target price on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.52.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron signed a 20-year agreement with Microsoft to supply electricity for a large AI-focused data center in Texas, expanding Chevron’s role in powering data infrastructure and potentially opening the door to more similar projects. Chevron (CVX) Just Signed A 20 Year Microsoft AI Data Center Power Deal
• Positive Sentiment: Several articles highlighted Chevron’s 4%+ dividend yield and long track record of dividend increases, reinforcing the stock’s appeal for income-focused investors. Chevron Yields 4.2% Because Oil Prices Make Everyone Nervous. Here’s Why That Thinking Is Outdated
• Neutral Sentiment: Erste Group slightly raised its 2026 earnings estimate for Chevron, suggesting stable profitability expectations, though the change was modest.
• Negative Sentiment: Chevron shares are being weighed down by softer crude prices and broader sector concerns, including reports that energy stocks may lag technology in the second half as oil retreats. What’s Ahead for Tech and Other Sectors In The Year’s Second Half
• Negative Sentiment: Morgan Stanley reportedly lowered its price target on Chevron, adding to pressure on the stock amid worries about weaker oil fundamentals. Chevron (CVX) Price Target Lowered at Morgan Stanley. Here is Why

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.