Bank of Nova Scotia Raises Stock Position in Chevron Corporation $CVX

Bank of Nova Scotia lifted its holdings in Chevron Corporation (NYSE:CVX) by 81.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 493,045 shares of the oil and gas company’s stock after buying an additional 221,602 shares during the period. Bank of Nova Scotia’s holdings in Chevron were worth $76,565,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Decker Retirement Planning Inc. bought a new stake in Chevron during the third quarter worth approximately $34,000. Vermillion & White Wealth Management Group LLC raised its position in Chevron by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 118 shares during the period. Marquette Asset Management LLC bought a new stake in shares of Chevron in the 3rd quarter valued at approximately $41,000. Barnes Dennig Private Wealth Management LLC lifted its stake in shares of Chevron by 306.1% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 202 shares during the last quarter. Finally, Traub Capital Management LLC purchased a new position in shares of Chevron in the 2nd quarter worth approximately $46,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In other news, CFO Eimear P. Bonner sold 32,100 shares of Chevron stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the completion of the sale, the chief financial officer owned 4,366 shares of the company’s stock, valued at approximately $764,093.66. The trade was a 88.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider R. Hewitt Pate sold 58,000 shares of Chevron stock in a transaction that occurred on 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 sale, the insider directly owned 8,558 shares of the company’s stock, valued at $1,614,466.70. This represents a 87.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,099,397 shares of company stock valued at $196,196,468. 0.20% of the stock is owned by insiders.

Chevron Stock Down 0.0%

NYSE:CVX opened at $196.95 on Monday. The company has a market cap of $393.00 billion, a price-to-earnings ratio of 29.57, a price-to-earnings-growth ratio of 1.82 and a beta of 0.67. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $198.88. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $177.33 and a 200-day simple moving average of $162.07.

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

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were paid a $1.78 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. This is an increase from Chevron’s previous quarterly dividend of $1.71. Chevron’s payout ratio is currently 106.91%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Geopolitical-driven oil rally is lifting energy names like Chevron as investors position for tighter supply; this is a primary driver behind recent upside in CVX. Wall Street Roundup: War, Oil, Airlines, Energy, AI, Private Credit
• Positive Sentiment: Piper Sandler raised its price target to $242 and moved to an “overweight” rating, signaling notable analyst upside that can support further buying interest. Piper Sandler price target raise
• Positive Sentiment: Chevron expanded its U.S. deepwater exposure via recent Gulf of Mexico lease activity, reinforcing confidence in long-term upstream growth and reserves development. Chevron Expands Gulf of Mexico Presence With Latest Lease Sale
• Positive Sentiment: Unusual options flow showed heavy call buying (111,021 calls), indicating speculative/bullish positioning that can amplify near-term upside.
• Neutral Sentiment: Chevron agreed to sell its stakes in Angola Blocks 14/14K to Energean for about $260M — a small portfolio divestment that trims international exposure but provides cash for reallocation; impact is strategic rather than material to earnings. Energean to acquire Chevron’s stakes in offshore Angola blocks
• Neutral Sentiment: Worley won a FEED contract for Chevron’s Aphrodite gas field (Cyprus), confirming project progress; it’s a positive operational step but the contract award mainly benefits the supplier and signals Chevron advancing development plans. Worley secures contract from Chevron for Aphrodite gas field FEED
• Neutral Sentiment: Analyst and media coverage is debating valuation as CVX approaches $200 after a ~30% run in 2026; some see upside if oil holds, others warn the rally could be stretched. Chevron Near $200 While Oil Tops $100: Does CVX Merit a Buy?
• Negative Sentiment: Chevron faces a DOJ settlement: a $1M penalty and retirement of $3.6M in invalid renewable fuel credits — reputational and compliance negative, though the financial hit is modest. Chevron Hit With $1 Million Penalty Over Invalid Clean Fuel Credits
• Negative Sentiment: MarketBeat and technical indicators note momentum warnings (MACD/RSI weakening) and the IEA’s coordinated reserve releases could cap oil — if oil eases, Chevron’s rally could reverse quickly. Chevron Hits New Highs Due to Oil’s Rally, But Is It Sustainable?

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Chevron from $196.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Melius Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a research report on Tuesday, February 17th. JPMorgan Chase & Co. raised shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price objective for the company in a research note on Tuesday, January 20th. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Piper Sandler increased their target price on shares of Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a research note on Thursday. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $182.05.

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.