Victory Capital Management Inc. Has $280 Million Stock Position in Chevron Corporation $CVX

Victory Capital Management Inc. boosted its stake in Chevron Corporation (NYSE:CVX) by 4.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,803,093 shares of the oil and gas company’s stock after purchasing an additional 71,347 shares during the quarter. Victory Capital Management Inc. owned about 0.10% of Chevron worth $280,002,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Decker Retirement Planning Inc. bought a new stake in shares of Chevron during the 3rd quarter worth approximately $34,000. Vermillion & White Wealth Management Group LLC increased its stake in Chevron by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 118 shares during the last quarter. Marquette Asset Management LLC acquired a new position in Chevron during the third quarter valued at approximately $41,000. Barnes Dennig Private Wealth Management LLC lifted its stake in Chevron by 306.1% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 202 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA boosted its holdings in shares of Chevron by 106.7% in the 2nd quarter. LFA Lugano Financial Advisors SA now owns 310 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler decreased their price target on Chevron from $178.00 to $174.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. Mizuho lifted their target price on Chevron from $204.00 to $206.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Citigroup increased their target price on shares of Chevron from $179.00 to $210.00 and gave the stock a “buy” rating in a report on Monday. UBS Group reaffirmed a “buy” rating and set a $212.00 price target on shares of Chevron in a report on Monday, February 2nd. Finally, Argus set a $203.00 price objective on shares of Chevron in a research report on Tuesday, February 3rd. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $178.95.

Insider Activity

In other news, insider R. Hewitt Pate sold 58,000 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $188.65, for a total value of $10,941,700.00. Following the transaction, the insider owned 8,558 shares in the company, valued at approximately $1,614,466.70. The trade was a 87.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael K. Wirth sold 320,700 shares of Chevron stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $162.99, for a total value of $52,270,893.00. Following the completion of the transaction, the chief executive officer directly owned 14,450 shares of the company’s stock, valued at approximately $2,355,205.50. This trade represents a 95.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 628,373 shares of company stock worth $107,085,890. 0.20% of the stock is owned by insiders.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Global oil/gas rally is boosting integrated energy stocks; higher commodity prices improve Chevron’s near-term margins and cash flow outlook. Read More.
• Positive Sentiment: Broker upgrades and higher price targets (Citigroup, Bank of America, Melius and others) signal renewed analyst conviction and support upside expectations. Read More.
• Positive Sentiment: Notable portfolio moves (including increased exposure in Berkshire’s final quarter) and positive coverage identifying CVX as a top oil pick are drawing investor interest. Read More.
• Neutral Sentiment: Analyst coverage is mixed overall: several buys and target lifts exist, but consensus includes many holds, which can limit sustained momentum. Read More.
• Negative Sentiment: Chevron declared force majeure and halted production at the Leviathan gas field amid regional hostilities — a direct operational disruption that can dent near-term volumes and revenue. Read More.
• Negative Sentiment: Substantial insider selling by R. Hewitt Pate (large blocks sold late Feb. and early Mar.; SEC filings) may amplify profit-taking and be viewed negatively by some investors. Read More.
• Negative Sentiment: Ongoing geopolitical risk (Iran threats, Strait of Hormuz disruptions) increases volatility and operational uncertainty even as higher oil tends to boost earnings for majors. Read More.

Chevron Stock Performance

Shares of Chevron stock opened at $188.56 on Wednesday. The stock has a market cap of $376.25 billion, a price-to-earnings ratio of 28.31, a P/E/G ratio of 12.55 and a beta of 0.67. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $191.56. The company’s fifty day moving average is $171.08 and its 200 day moving average is $160.10. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, topping the consensus estimate 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 return on equity of 7.89% and a net margin of 6.51%.The business’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.06 EPS. Sell-side 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 will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be given a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. This is a boost from Chevron’s previous quarterly dividend of $1.71. Chevron’s payout ratio is currently 106.91%.

About Chevron

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.