Chevron Corporation $CVX Shares Sold by First Merchants Corp

First Merchants Corp lowered its holdings in Chevron Corporation (NYSE:CVX) by 10.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,009 shares of the oil and gas company’s stock after selling 4,038 shares during the quarter. First Merchants Corp’s holdings in Chevron were worth $5,488,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Decker Retirement Planning Inc. purchased a new position in shares of Chevron in the 3rd quarter valued at about $34,000. Vermillion & White Wealth Management Group LLC lifted its stake in shares of Chevron by 86.1% in 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 purchased a new stake in Chevron during the third quarter worth about $41,000. Barnes Dennig Private Wealth Management LLC boosted its holdings in Chevron by 306.1% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company’s stock worth $42,000 after buying an additional 202 shares in the last quarter. Finally, Evolution Wealth Management Inc. acquired a new position in Chevron during the second quarter worth about $49,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Analyst bullishness — Bernstein raised its price target on Chevron citing a stronger crude backdrop, supporting higher upside expectations for CVX. Chevron (CVX) price target raised by Bernstein on stronger crude backdrop
• Positive Sentiment: Commodity tailwinds — Multiple outlets note oil has spiked (near $100/bbl), which benefits Chevron given its low breakeven cost structure and strong cash flow generation. This supports dividend safety and capital returns. Oil Just Hit $100 a Barrel. Here’s the 1 Energy Stock Built to Win Whether Prices Stay High or Crash.
• Positive Sentiment: Analyst estimates lifted — Erste Group raised FY2027 EPS estimates for Chevron, reinforcing expectations for stronger earnings if elevated oil prices persist. Erste Group raises FY2027 EPS estimate for Chevron
• Neutral Sentiment: Strategic moves — Chevron’s crude offtake deal with Sable Offshore increases West Coast supply exposure; useful for refining feed but introduces localized logistics and environmental considerations. Chevron’s Sable Offshore Deal Adds West Coast Supply And Risk Considerations
• Neutral Sentiment: Corporate governance update — Board bylaws were updated post‑Hess acquisition; routine but worth watching for any governance changes that could affect investor rights. Chevron Updates Board Bylaws Following Hess Acquisition
• Negative Sentiment: Operational hit — Chevron reported production outages at its Gorgon and Wheatstone gas facilities in Australia due to Tropical Cyclone Narelle; this could trim near‑term volumes and revenues until production is restored. Chevron reports outage at Australian gas facilities due to cyclone
• Negative Sentiment: Regulatory risk — A proposed “Big Oil Windfall Profits Tax” (S.4111) would target large producers (including CVX) and could materially raise tax burdens if enacted, adding policy risk to the upside in commodity prices. New Bill: Senator Sheldon Whitehouse introduces S. 4111: Big Oil Windfall Profits Tax Act
• Negative Sentiment: Regional supply concerns — Chevron warns of a potential California fuel crisis as imports slow and refining constraints persist; such supply stresses can spur political scrutiny and local price volatility. Chevron Raises Alarm Over California Energy Crisis as Imports Slow

Insider Activity

In other Chevron news, insider R. Hewitt Pate sold 47,200 shares of Chevron stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $192.12, for a total value of $9,068,064.00. Following the completion of the sale, the insider directly owned 8,558 shares of the company’s stock, valued at approximately $1,644,162.96. The trade was a 84.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alana K. Knowles sold 2,408 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $183.28, for a total value of $441,338.24. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,099,397 shares of company stock valued at $196,196,468 in the last 90 days. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CVX. Citigroup increased their target price on shares of Chevron from $179.00 to $210.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Mizuho boosted their price target on Chevron from $206.00 to $217.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Morgan Stanley lowered their price target on Chevron from $180.00 to $174.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Freedom Capital downgraded Chevron from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 6th. Finally, Sanford C. Bernstein lifted their price objective on Chevron from $170.00 to $172.00 and gave the stock a “market perform” rating in a report on Monday, January 5th. Fourteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and an average target price of $184.77.

Chevron Trading Up 1.3%

Shares of CVX stock opened at $207.81 on Friday. The company has a market capitalization of $414.67 billion, a price-to-earnings ratio of 31.20, a PEG ratio of 1.90 and a beta of 0.67. 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 firm has a 50-day moving average price of $184.62 and a 200 day moving average price of $164.74. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $209.79.

Chevron (NYSE:CVX) last released its quarterly 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 company 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 firm’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. Research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company 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. This represents a $7.12 dividend on an annualized basis and a yield of 3.4%. This is an increase from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date was Tuesday, February 17th. Chevron’s dividend payout ratio (DPR) is 106.91%.

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.