Chevron Corporation $CVX Stake Raised by First Financial Bankshares Inc

First Financial Bankshares Inc lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 636,586 shares of the oil and gas company’s stock after buying an additional 3,987 shares during the period. Chevron makes up about 2.0% of First Financial Bankshares Inc’s investment portfolio, making the stock its 12th largest holding. First Financial Bankshares Inc’s holdings in Chevron were worth $97,022,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. United Bank boosted its position in Chevron by 7.7% during the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after acquiring an additional 796 shares during the period. Schnieders Capital Management LLC. grew its stake in shares of Chevron by 9.0% in the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after purchasing an additional 4,214 shares in the last quarter. BNP Paribas grew its stake in shares of Chevron by 76.4% in the second quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after purchasing an additional 191 shares in the last quarter. Osterweis Capital Management Inc. grew its stake in shares of Chevron by 678.9% in the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock worth $195,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC grew its stake in shares of Chevron by 3.6% in the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after purchasing an additional 553 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVX has been the subject of several recent analyst reports. Weiss Ratings cut Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Scotiabank boosted their price target on shares of Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group restated a “buy” rating and set a $216.00 price target on shares of Chevron in a research report on Wednesday, May 6th. Bank of America boosted their price target on shares of Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Finally, UBS Group boosted their price target on shares of Chevron from $218.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $205.70.

Insider Buying and Selling

In related news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the sale, the insider owned 8,638 shares of the company’s stock, valued at $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 615,200 shares of company stock valued at $118,022,760 over the last 90 days. 0.56% of the stock is currently owned by insiders.

Chevron Stock Down 2.1%

CVX stock opened at $185.81 on Friday. Chevron Corporation has a 52 week low of $142.40 and a 52 week high of $214.71. The company has a market capitalization of $370.05 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 0.63 and a beta of 0.48. The firm’s 50-day moving average is $188.96 and its two-hundred day moving average is $178.00. 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 quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion for 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%. Chevron’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.18 EPS. On average, analysts forecast that Chevron Corporation will post 15.74 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s Tengiz project expansion is being highlighted as a major growth driver, with output capacity rising to 1 million BOE/d and the asset expected to support cash flow, production growth and shareholder returns through 2030. How Investment in TCO Is Powering Chevron’s Next Wave of Cash Growth
• Positive Sentiment: Analysts at Erste Group raised FY2027 EPS estimates for Chevron, signaling slightly better earnings expectations ahead.
• Positive Sentiment: Chevron was cited among oil stocks benefiting from higher crude prices and geopolitical tensions, which can improve upstream margins and near-term cash generation. Chevron Corporation (CVX) Benefited from Escalating Conflict in Iran
• Positive Sentiment: Market commentary and technical analysis described Chevron as showing relative strength, with bullish signals building toward a potential breakout. Chevron (CVX) Price Forecast: Bullish Signals Build Toward Breakout
• Neutral Sentiment: Chevron’s CFO was featured discussing how the finance team is using AI, which is more of a strategic/operations story than a direct stock-moving catalyst. Chevron’s CFO on why finance chiefs are defining AI’s business value
• Neutral Sentiment: Recent coverage also noted Chevron as a dividend and value-name favorite, reinforcing its defensive income appeal rather than changing the core investment thesis.
• Negative Sentiment: Zacks Research downgraded Chevron from strong-buy to hold, which may have added some pressure to the shares.

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.