Central Securities Corp Buys Shares of 256,250 Chevron Corporation $CVX

Central Securities Corp purchased a new position in shares of Chevron Corporation (NYSE:CVX) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 256,250 shares of the oil and gas company’s stock, valued at approximately $39,793,000. Chevron comprises about 3.3% of Central Securities Corp’s portfolio, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in 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 valued at $28,540,753,000 after purchasing an additional 27,961,463 shares in the last quarter. Berkshire Hathaway Inc lifted its position in shares of Chevron by 2.9% during the 2nd 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 buying an additional 3,454,258 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Chevron by 4.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock valued at $4,979,255,000 after buying an additional 1,342,723 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Chevron by 1.9% during the 2nd quarter. Fisher Asset Management LLC now owns 20,826,805 shares of the oil and gas company’s stock valued at $2,982,190,000 after acquiring an additional 378,936 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Chevron by 27.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock worth $3,047,900,000 after acquiring an additional 4,279,918 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. TD Cowen boosted their target price on Chevron from $160.00 to $168.00 and gave the stock a “hold” rating in a research report on Monday, February 2nd. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Bank of America cut their target price on shares of Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Mizuho increased their price target on Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, Freedom Capital cut Chevron from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $176.36.

Chevron Stock Up 1.3%

Shares of NYSE CVX opened at $186.47 on Friday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $187.90. The firm has a market capitalization of $372.07 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 12.19 and a beta of 0.70. The stock has a 50 day moving average price of $169.52 and a 200 day moving average price of $159.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15.

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

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. This is a boost from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, February 17th. Chevron’s payout ratio is currently 106.91%.

Insider Activity at Chevron

In other news, Vice Chairman Mark A. Nelson sold 45,800 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $174.17, for a total transaction of $7,976,986.00. Following the transaction, the insider directly owned 7,161 shares in the company, valued at approximately $1,247,231.37. This trade represents a 86.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Eimear P. Bonner sold 32,100 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the completion of the transaction, the chief financial officer directly owned 4,366 shares of the company’s stock, valued at $764,093.66. This trade represents a 88.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 534,898 shares of company stock worth $89,543,711 over the last quarter. Corporate insiders own 0.21% of the company’s stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Berkshire Hathaway has shifted its portfolio after Buffett’s exit and added to its Chevron stake, a high-profile institutional buyer that can support the stock and signal confidence to other investors. Berkshire Hathaway Shifts As Buffett Exits And Abel Faces New Tests
• Positive Sentiment: Coverage from The Motley Fool and other outlets remains bullish on CVX’s upside (including $200 targets) and highlights its attractive yield, which attracts income-focused investors. Is Chevron Stock Going to $200?
• Positive Sentiment: Jim Cramer publicly recommended holding Chevron, calling it a stock that can run higher and highlighting its 3.85% yield — media endorsements can lift retail demand. Jim Cramer on Chevron: “I Would Hold on to That”
• Neutral Sentiment: Macro/sector story: U.S. actions in Venezuela have strengthened Guyana’s oil future, a geopolitical development that supports long-term offshore oil investment and is generally positive for major oil companies’ sector outlook (indirect for Chevron). How America’s Action in Venezuela Guaranteed Guyana’s Oil Future
• Neutral Sentiment: Investor interest in dividend stocks/ETFs (multiple roundup pieces) increases demand for high-yield names like Chevron, but these are broader flows rather than company-specific catalysts. Got $10,000? Put It in These Dividend ETFs Now
• Negative Sentiment: A recent DCF-based intrinsic-value write-up estimates Chevron is overvalued by ~30% (intrinsic value ~$126), a valuation critique that could limit upside or trigger profit-taking among value-focused funds. Our Calculation Of Intrinsic Value: Chevron Corporation

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.