Vestcor Inc Has $5.99 Million Holdings in Chevron Corporation $CVX

Vestcor Inc lifted its position in Chevron Corporation (NYSE:CVX) by 11.0% in the 3rd quarter, Holdings Channel reports. The fund owned 38,564 shares of the oil and gas company’s stock after buying an additional 3,827 shares during the period. Vestcor Inc’s holdings in Chevron were worth $5,989,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Chevron by 17.9% during the 3rd 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 during the period. Norges Bank acquired a new stake in shares of Chevron in the second quarter worth $2,721,477,000. Primecap Management Co. CA purchased a new position in shares of Chevron during the third quarter valued at $988,083,000. Bank of New York Mellon Corp grew its holdings in shares of Chevron by 27.9% during the third quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock valued at $3,047,900,000 after buying an additional 4,279,918 shares in the last quarter. Finally, Laurel Wealth Advisors LLC raised its position in Chevron by 14,194.2% during the second quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock valued at $532,984,000 after buying an additional 3,696,177 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CVX. Jefferies Financial Group increased their price objective on Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Bank of America lifted their target price on Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Freedom Capital lowered shares of Chevron from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. Finally, Scotiabank restated a “sector perform” rating and set a $168.00 price target on shares of Chevron in a report on Friday, January 16th. Thirteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $178.95.

Chevron Price Performance

NYSE CVX opened at $189.43 on Tuesday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $192.41. The stock’s 50-day moving average is $174.15 and its two-hundred day moving average is $161.09. The firm has a market cap of $377.99 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 1.91 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 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 during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.06 EPS. On average, analysts anticipate 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 will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be issued a $1.78 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date is Tuesday, February 17th. This represents a $7.12 annualized dividend and a yield of 3.8%. Chevron’s dividend payout ratio is presently 106.91%.

Insider Activity

In other news, insider Andrew Benjamin Walz sold 11,600 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $188.58, for a total value of $2,187,528.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alana K. Knowles sold 2,408 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $183.28, for a total transaction of $441,338.24. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,052,197 shares of company stock valued at $187,128,404. Insiders own 0.20% of the company’s stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Geopolitical supply shocks have driven crude sharply higher (WTI/Brent > $100), which boosts Chevron’s upstream margins and cash flow outlook. Higher oil is a primary tailwind for CVX today. Wall Street Is Pointing to the 1990 Gulf War Playbook
• Positive Sentiment: Bank of America’s bullish $206 price target and related coverage helped lift sentiment and option activity in CVX, supporting near-term upside expectations. Blockonomi: BofA Upgrade
• Positive Sentiment: Chevron is reported to be in talks to buy ~30% of Brazil’s Ipiranga via Ultrapar’s potential stake sale — a move that would expand downstream retail exposure in Latin America and diversify cash flows. Reuters: Ultrapar Taps BTG; Chevron Interest
• Positive Sentiment: Operational growth and portfolio moves (Hess closing/Guyana exposure and exclusive talks for Iraq’s West Qurna 2) are framing a longer-term growth story beyond cyclical oil moves. Yahoo: Hess Deal & West Qurna Talks
• Neutral Sentiment: Market commentary suggests option strategies (shorting OTM puts/calls, covered calls) are being used to monetize elevated premiums around CVX — this raises income opportunities but also signals some investors expect limited near-term directional moves. Barchart: Options Strategy
• Neutral Sentiment: Chevron signed a five-year gas supply deal with Horizon Power, underpinning steady gas revenues in Australia but with limited immediate impact on global oil-driven earnings. Zacks: Horizon Power Deal
• Negative Sentiment: Chevron plans to suspend production at the Leviathan gas field offshore Israel, reducing near-term gas output and revenues from that asset and adding operational disruption risk. InsiderMonkey: Leviathan Suspension
• Negative Sentiment: Public criticism from Chevron’s refining president of California climate rules highlights regulatory and political headwinds that could pressure West Coast refining margins and operational flexibility. YouTube: Chevron President on California Regs

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.