Recurrent Investment Advisors LLC Boosts Stock Position in Chevron Corporation $CVX

Recurrent Investment Advisors LLC grew its position in Chevron Corporation (NYSE:CVX) by 102.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,063 shares of the oil and gas company’s stock after purchasing an additional 21,839 shares during the period. Chevron makes up 0.5% of Recurrent Investment Advisors LLC’s holdings, making the stock its 26th largest position. Recurrent Investment Advisors LLC’s holdings in Chevron were worth $6,687,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of CVX. Vanguard Group Inc. boosted its position in Chevron by 17.9% in 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 buying an additional 27,961,463 shares during the last quarter. Berkshire Hathaway Inc raised its position in 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 worth $17,478,458,000 after buying an additional 3,454,258 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in 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 worth $4,979,255,000 after buying an additional 1,342,723 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Chevron by 1.6% during the 3rd quarter. Fisher Asset Management LLC now owns 21,152,060 shares of the oil and gas company’s stock valued at $3,284,704,000 after acquiring an additional 325,255 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Chevron by 27.9% during the 3rd 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 acquiring an additional 4,279,918 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Piper Sandler raised its price target and reiterated an “overweight” stance on CVX, giving institutional investors a fresh bullish valuation reference. Benzinga
• Positive Sentiment: Macro support: oil prices and geopolitical risk in the Middle East have pushed Chevron to new highs this week, lifting sentiment for integrated producers that benefit from higher crude. MarketBeat
• Positive Sentiment: Gulf of Mexico expansion: Chevron increased its footprint in the recent lease sale/auction, signaling continued investment in U.S. deepwater growth. Yahoo Finance
• Positive Sentiment: Project development: Chevron Cyprus has advanced a Cyprus offshore gas project (Worley awarded FEED), indicating future production & gas sales potential in the Eastern Med. TipRanks
• Positive Sentiment: Heavy bullish options flow: an unusual spike in call buying shows short‑term speculative/hedging interest that can amplify upward moves.
• Neutral Sentiment: Gorgon/LNG ownership shifts: MidOcean’s move to increase a stake in Gorgon LNG reflects ongoing portfolio shifts in Australian LNG, where Chevron is a long‑standing partner — monitor implications for JV economics. Offshore‑Technology
• Neutral Sentiment: Venezuela opportunity remains in play: reports that Chevron and Shell are nearing deals to revive Venezuelan production are positive long‑term but remain uncertain and subject to regulatory/geopolitical timing. MSN/Reuters
• Negative Sentiment: Insider selling: an SEC filing shows R. Hewitt Pate sold 47,200 shares recently — while insider sales can be routine, some investors interpret them as a signal to reduce exposure near rally highs. SEC Form 4
• Negative Sentiment: Regulatory hit: Chevron agreed to a DOJ settlement (about $1M penalty and retirement of ~$3.6M in invalid renewable credits) — small financially but a reputational/legal reminder. Benzinga
• Negative Sentiment: Asset sale in Angola: Energean’s acquisition of Chevron stakes in offshore Angolan blocks reduces CVX near‑term production exposure in that region; impact depends on sale price and redeployment of proceeds. Offshore‑Technology

Insider Activity

In related news, insider R. Hewitt Pate sold 47,200 shares of Chevron stock in a transaction dated Friday, March 6th. The stock was 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 in the company, valued at $1,644,162.96. The trade was a 84.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $187.92, for a total value of $26,233,632.00. Following the completion of the transaction, the insider directly owned 11,337 shares of the company’s stock, valued at $2,130,449.04. The trade was a 92.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,099,397 shares of company stock worth $196,196,468. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CVX has been the topic of a number of research reports. Zacks Research upgraded shares of Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 23rd. TD Cowen boosted their target price on shares of Chevron from $160.00 to $168.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. Barclays upped their price target on shares of Chevron from $158.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, January 21st. Wells Fargo & Company lifted their price objective on Chevron from $196.00 to $204.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Finally, Jefferies Financial Group boosted their price objective on Chevron from $174.00 to $189.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. Thirteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $182.05.

Chevron Price Performance

NYSE:CVX opened at $197.31 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. The company has a 50 day moving average price of $176.51 and a 200-day moving average price of $161.75. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $198.88. The firm has a market cap of $393.71 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 1.93 and a beta of 0.67.

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

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, February 17th. This is an increase from Chevron’s previous quarterly dividend of $1.71. Chevron’s dividend payout ratio is currently 106.91%.

Chevron Company 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.