Independent Wealth Network Inc. Sells 3,278 Shares of Chevron Corporation $CVX

Independent Wealth Network Inc. trimmed its holdings in shares of Chevron Corporation (NYSE:CVX) by 10.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,098 shares of the oil and gas company’s stock after selling 3,278 shares during the period. Chevron comprises 1.8% of Independent Wealth Network Inc.’s holdings, making the stock its 7th largest position. Independent Wealth Network Inc.’s holdings in Chevron were worth $6,020,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp increased its holdings in 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 buying an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc raised its stake in Chevron by 6.6% in the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after buying an additional 8,091,570 shares during the period. Geode Capital Management LLC raised its stake in Chevron by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after buying an additional 134,890 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Chevron by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock valued at $5,492,377,000 after buying an additional 961,341 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Chevron during the 4th quarter worth approximately $3,727,586,000. Institutional investors own 72.42% of the company’s stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron expanded its upstream footprint by agreeing to take a majority stake and operatorship in Greece’s Southern Ionian Sea Block 10, a move that could add long-term exploration upside and strengthen its Eastern Mediterranean presence. Chevron (CVX) Expands Into Greece Block 10 While Venezuela Operations Stay Running
• Positive Sentiment: The company also announced a 20-year deal to supply natural gas to a Microsoft data center in West Texas, signaling a new avenue for stable, long-duration demand and potential growth from energy infrastructure tied to AI. Chevron, Microsoft deal fuels West Texas data center expansion
• Positive Sentiment: Chevron confirmed that its Venezuela operations remain safe and fully operational after the earthquakes, reducing near-term disruption risk while the company supports relief efforts. Chevron Confirms Safe Venezuela Operations After Major Earthquakes
• Neutral Sentiment: Chevron committed $1 million to earthquake relief in Venezuela, a humanitarian move that is unlikely to materially affect earnings but may support its reputation. Chevron Commits $1 Million to Support Earthquake Relief in Venezuela
• Neutral Sentiment: Reuters reported Chevron is exploring additional deals to power U.S. data centers, which suggests optionality and diversification, but no immediate financial impact was disclosed. Chevron eyes more deals to power US data centers
• Negative Sentiment: Investor caution rose after reports that the Trump administration ordered a DOJ probe into gasoline pricing at Chevron and other major oil companies, creating headline risk and possible regulatory overhang. Trump Orders DOJ Investigation Into Exxon (XOM) and Chevron (CVX) Over Gas Pump Pricing
• Negative Sentiment: Chevron’s CFO said gasoline prices should decline, but only with a lag, reinforcing concerns that near-term pricing and margins may remain uncertain if crude prices keep falling. Chevron CFO says gas prices will normalize after Trump presses Big Oil

Chevron Stock Down 0.9%

CVX stock opened at $170.67 on Friday. The firm has a 50-day moving average price of $185.10 and a 200-day moving average price of $179.78. Chevron Corporation has a 12 month low of $142.40 and a 12 month high of $214.71. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $339.91 billion, a P/E ratio of 29.58, a price-to-earnings-growth ratio of 0.56 and a beta of 0.48.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.18 EPS. As a group, equities research analysts anticipate that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 4.2%. Chevron’s dividend payout ratio is 123.40%.

Insider Buying and Selling at Chevron

In other news, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider directly owned 8,638 shares in the company, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following 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 position. 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 quarter. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CVX. Bank of America raised their price target on Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Tudor Pickering raised shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price for the company in a report on Thursday, April 9th. Sanford C. Bernstein lowered their price target on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. Zacks Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Morgan Stanley boosted their price objective on Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $205.70.

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.