Chevron Corporation $CVX Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. reduced its position in Chevron Corporation (NYSE:CVX) by 1.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 207,023 shares of the oil and gas company’s stock after selling 3,347 shares during the period. Chevron accounts for approximately 1.3% of Meyer Handelman Co.’s holdings, making the stock its 23rd biggest holding. Meyer Handelman Co.’s holdings in Chevron were worth $42,833,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. United Bank boosted its holdings in Chevron by 7.7% in the second quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after purchasing an additional 796 shares during the period. Schnieders Capital Management LLC. raised its holdings in shares of Chevron by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock worth $7,280,000 after purchasing an additional 4,214 shares during the period. BNP Paribas lifted its position in shares of Chevron by 76.4% in the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after buying an additional 191 shares during the last quarter. Osterweis Capital Management Inc. boosted its holdings in shares of Chevron by 678.9% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock valued at $195,000 after buying an additional 1,188 shares during the period. Finally, Main Street Financial Solutions LLC boosted its holdings in shares of Chevron by 3.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock valued at $2,299,000 after buying an additional 553 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CVX shares. Barclays increased their price objective on shares of Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 26th. Scotiabank upped their target price on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Zacks Research cut Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Piper Sandler boosted their price objective on Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Finally, Wells Fargo & Company upped their price objective on Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $205.70.

Insider Activity at Chevron

In other news, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the transaction, the insider directly owned 8,638 shares in the company, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 615,200 shares of company stock worth $118,022,760. 0.56% of the stock is owned by corporate insiders.

Chevron Stock Down 0.9%

Chevron stock opened at $170.67 on Friday. The stock has a market cap of $339.91 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 0.56 and a beta of 0.48. 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 company’s 50-day moving average price is $185.10 and its two-hundred day moving average price is $179.78. Chevron Corporation has a 52 week low of $142.40 and a 52 week high of $214.71.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.18 EPS. On average, analysts expect that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Key Headlines Impacting Chevron

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 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.