Community Trust & Investment Co. Sells 3,848 Shares of Chevron Corporation $CVX

Community Trust & Investment Co. decreased its position in shares of Chevron Corporation (NYSE:CVX) by 3.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 98,716 shares of the oil and gas company’s stock after selling 3,848 shares during the period. Community Trust & Investment Co.’s holdings in Chevron were worth $15,045,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CVX. Vanguard Group Inc. grew its holdings in shares of Chevron by 17.9% during the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after purchasing 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 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 purchasing an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc grew its stake in shares of Chevron by 2.9% during 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 during the last quarter. Northern Trust Corp increased 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 increased its holdings 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 in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Chevron

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

Chevron Price Performance

Shares of CVX stock opened at $205.12 on Tuesday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $205.36. The firm has a fifty day moving average of $182.17 and a 200-day moving average of $163.78. The firm has a market capitalization of $409.30 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 1.87 and a beta of 0.67. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The business had revenue of $45.79 billion for the quarter, compared to analyst estimates of $48.18 billion. During the same period last year, the business posted $2.06 earnings per share. The firm’s quarterly revenue was down 10.2% on a year-over-year basis. On average, equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.5%. This is a positive change from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend was Tuesday, February 17th. Chevron’s dividend payout ratio (DPR) is presently 106.91%.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 320,700 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the completion of the sale, the chief executive officer owned 14,450 shares in the company, valued at $2,355,205.50. The trade was a 95.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider R. Hewitt Pate sold 58,000 shares of Chevron stock in a transaction on 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 $1,614,466.70. This represents a 87.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,099,397 shares of company stock worth $196,196,468 in the last quarter. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVX. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Scotiabank restated a “sector perform” rating and set a $168.00 target price on shares of Chevron in a research report on Friday, January 16th. UBS Group restated a “buy” rating and set a $212.00 target price on shares of Chevron in a research report on Monday, February 2nd. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research note on Friday. Finally, TD Cowen raised their price target on Chevron from $160.00 to $168.00 and gave the stock a “hold” rating in a research report on Monday, February 2nd. Fourteen 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 company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.