Mechanics Bank Trust Department Trims Position in Chevron Corporation $CVX

Mechanics Bank Trust Department decreased its stake in shares of Chevron Corporation (NYSE:CVX) by 10.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,097 shares of the oil and gas company’s stock after selling 4,675 shares during the quarter. Mechanics Bank Trust Department’s holdings in Chevron were worth $6,111,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Decker Retirement Planning Inc. bought a new stake in shares of Chevron during the third quarter valued at approximately $34,000. Marquette Asset Management LLC bought a new position in Chevron in the third quarter worth approximately $41,000. Barnes Dennig Private Wealth Management LLC grew its stake in Chevron by 306.1% in 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 purchasing an additional 202 shares in the last quarter. Evolution Wealth Management Inc. purchased a new position in Chevron during the 2nd quarter worth $49,000. Finally, Turning Point Benefit Group Inc. purchased a new position in Chevron during the 3rd quarter worth $49,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Australian cyclone knocked out production at major LNG hubs, tightening global gas supply and supporting higher energy prices, a tailwind for Chevron’s commodity-linked cash flow. Cyclone Causes Outages at Australia’s Top LNG Projects
• Positive Sentiment: Morgan Stanley raised its price target to $212 and set an “overweight” rating, signaling buy-side support and helping push CVX higher. Benzinga: Morgan Stanley price target
• Positive Sentiment: Bernstein also lifted its price target on Chevron amid a stronger crude backdrop, reinforcing the narrative that majors benefit from the current oil rally. MSN: Bernstein price target raise
• Positive Sentiment: Erste Group raised FY2026/FY2027 EPS forecasts for Chevron, reflecting better-than-expected earnings power as oil prices stay elevated. MarketBeat: Erste Group EPS revisions
• Positive Sentiment: Market positioning has shifted to defensive, dividend-paying sectors; several market roundups note oil majors including CVX outperforming amid geopolitical risk. Seeking Alpha: Market shifts to defense
• Positive Sentiment: Multiple outlets and analysts praise Chevron’s low breakeven, high-quality asset base and dividend profile, which supports momentum and income-focused buying. Zacks: Chevron momentum
• Neutral Sentiment: Chevron reported production outages at its Australian Gorgon and Wheatstone facilities tied to the cyclone — positive for global price signals but a near-term hit to CVX production, leaving the net impact mixed. Reuters: Chevron outage
• Neutral Sentiment: Consensus brokerage coverage remains around “hold” even as some firms raise targets — suggests upside is recognized but some caution persists. AmericanBankingNews: Consensus hold
• Negative Sentiment: Political/insider optics: a U.S. Representative who publicly backed military action sold Chevron stock at all-time highs, drawing negative headlines and governance/PR risk. Benzinga: Congressman sold Chevron stock
• Negative Sentiment: Analyst commentary raises macro risk scenarios (e.g., high oil in $130–$140 range) that could hurt economic growth and introduce volatility—even if commodity-linked cash flows initially rise. Seeking Alpha: $130-$140 oil risks

Insider Activity at Chevron

In other Chevron news, insider R. Hewitt Pate sold 47,200 shares of the firm’s stock in a transaction 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 transaction, the insider owned 8,558 shares of the company’s stock, valued at approximately $1,644,162.96. This trade represents a 84.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Andrew Benjamin Walz sold 11,600 shares of Chevron stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $188.58, for a total transaction of $2,187,528.00. The SEC filing for this sale provides additional information. Insiders have sold 1,099,397 shares of company stock worth $196,196,468 in the last 90 days. 0.21% of the stock is owned by insiders.

Chevron Stock Up 1.7%

Shares of CVX stock opened at $211.31 on Friday. The stock’s fifty day moving average price is $185.52 and its 200 day moving average price is $165.21. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $212.46. The company has a market cap of $421.64 billion, a price-to-earnings ratio of 31.73, a price-to-earnings-growth ratio of 1.76 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86.

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

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were paid a $1.78 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date was Tuesday, February 17th. This represents a $7.12 dividend on an annualized basis and a yield of 3.4%. Chevron’s dividend payout ratio (DPR) is 106.91%.

Analyst Upgrades and Downgrades

CVX has been the subject of several research reports. Wells Fargo & Company upped their target price on Chevron from $196.00 to $204.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Jefferies Financial Group raised their price target on Chevron from $174.00 to $189.00 and gave the company a “buy” rating in a research note on Wednesday, January 14th. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a report on Friday, March 20th. Mizuho increased their target price on shares of Chevron from $206.00 to $217.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Finally, UBS Group reissued a “buy” rating and set a $212.00 target price on shares of Chevron in a research report on Monday, February 2nd. Fourteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $186.50.

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.