Michael Wirth Sells 272,624 Shares of Chevron (NYSE:CVX) Stock

by · The Markets Daily

Chevron Corporation (NYSE:CVX – Get Free Report) CEO Michael Wirth sold 272,624 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the transaction, the chief executive officer owned 31,266 shares in the company, valued at $5,920,217.10. The trade was a 89.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Chevron Stock Performance

CVX traded down $2.68 on Wednesday, reaching $186.09. 11,037,073 shares of the stock were exchanged, compared to its average volume of 12,072,181. The company’s 50-day moving average price is $171.08 and its 200 day moving average price is $160.10. 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 firm has a market capitalization of $371.32 billion, a PE ratio of 27.94, a PEG ratio of 12.55 and a beta of 0.67. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $191.56.

Chevron (NYSE:CVX – Get Free Report) last issued its 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. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The firm had revenue of $45.79 billion for the quarter, compared to analyst estimates of $48.18 billion. During the same quarter in the prior year, the firm earned $2.06 earnings per share. Chevron’s revenue for the quarter was down 10.2% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm 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 dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. This is a boost from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, February 17th. Chevron’s dividend payout ratio is 106.91%.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

  • Positive Sentiment: Geopolitical tension in the Middle East has pushed crude and natural-gas futures higher, creating a tailwind for integrated majors like Chevron by supporting margins and cash flow expectations. Read More.
  • Positive Sentiment: Major brokerages and Wall Street research have been upbeat recently (upgraded price targets and bullish notes), reinforcing investor confidence in Chevron’s cash returns and long-term outlook. Read More.
  • Positive Sentiment: Longer-term positioning by large investors (including increased exposure reported in recent institutional filings) and commentary highlighting Chevron’s scale and dividend profile support the stock’s medium-term appeal. Read More.
  • Neutral Sentiment: Heightened retail and analyst attention has increased trading activity and headline sensitivity; that can amplify moves in either direction but doesn’t change fundamentals immediately. Read More.
  • Negative Sentiment: Chevron halted production and declared force majeure at the Leviathan gas field after Israeli security orders tied to regional hostilities — an immediate operational disruption that creates uncertainty around near-term gas volumes and local cash flow. Read More.
  • Negative Sentiment: Significant insider selling by R. Hewitt Pate (multiple large blocks disclosed in SEC filings) has likely contributed to near-term selling pressure and investor caution. Read More.
  • Negative Sentiment: Broader geopolitical headlines (reports of Iranian contacts with U.S. counterparts and threats in the Strait of Hormuz) have increased market volatility and raised the risk premium on energy names despite higher commodity prices. Read More.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent research reports. 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. Jefferies Financial Group lifted their target price on shares of Chevron from $174.00 to $189.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. Bank of America boosted their target price on shares of Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research note on Monday. Citigroup raised their price target on shares of Chevron from $179.00 to $210.00 and gave the company a “buy” rating in a research report on Monday. Finally, Freedom Capital cut shares of Chevron from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $178.95.

Read Our Latest Stock Report on CVX

Institutional Trading of Chevron

Several large investors have recently made changes to their positions in the company. D.B. Root & Company LLC lifted its holdings in shares of Chevron by 1.0% in the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock worth $846,000 after acquiring an additional 57 shares during the last quarter. Fox Hill Wealth Management raised its position in Chevron by 1.7% in the fourth quarter. Fox Hill Wealth Management now owns 3,443 shares of the oil and gas company’s stock valued at $525,000 after purchasing an additional 57 shares during the period. Cornerstone Planning Group LLC lifted its stake in Chevron by 6.8% during the fourth quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company’s stock worth $142,000 after purchasing an additional 59 shares in the last quarter. MMA Asset Management LLC boosted its position in shares of Chevron by 3.4% during the fourth quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company’s stock worth $277,000 after buying an additional 59 shares during the period. Finally, EWA LLC grew its stake in shares of Chevron by 2.8% in the fourth quarter. EWA LLC now owns 2,182 shares of the oil and gas company’s stock valued at $333,000 after buying an additional 59 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Company Profile

(Get Free Report)

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.

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