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

Chevron Corporation (NYSE:CVX) CEO Michael Wirth sold 272,624 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the sale, the chief executive officer directly owned 31,266 shares in the company, valued at $5,920,217.10. This represents a 89.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Chevron Stock Performance

NYSE:CVX opened at $186.09 on Thursday. The stock has a market capitalization of $371.32 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 1.90 and a beta of 0.67. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $191.56. The firm has a 50 day moving average of $171.79 and a 200-day moving average of $160.28.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, topping 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 business had revenue of $45.79 billion for the quarter, compared to analyst estimates of $48.18 billion. During the same period in the prior year, the company earned $2.06 EPS. Chevron’s revenue for the quarter was down 10.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be paid a $1.78 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, February 17th. Chevron’s payout ratio is presently 106.91%.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wall Street support: several firms have been lifting price targets and forecasts for CVX this week, including a recent price-target bump to $210, signaling analyst confidence in Chevron’s cash returns and resilience. Read More.
• Positive Sentiment: Geopolitical-driven commodity rally: rising oil and gas prices from Middle East supply concerns are boosting energy-sector earnings power, which benefits integrated majors like Chevron by improving margins across upstream and refining. Read More.
• Neutral Sentiment: Mixed analyst landscape: while several firms upgraded targets, consensus ratings remain varied (buys, holds and some sells). That split can cap follow-through buying despite positive price-target headlines. Read More.
• Negative Sentiment: Large insider sales: multiple senior executives — including CEO Michael Wirth (reported sale of ~272,624 shares) and other officers — have disclosed multi-million-dollar stock sales in early March, which often spurs near-term investor caution and profit-taking. Read More.
• Negative Sentiment: Operational disruption: Chevron suspended production at the Leviathan gas field and declared force majeure amid regional hostilities — a direct hit to near-term volumes and a reminder that specific assets face outage risk. Read More.
• Negative Sentiment: Broader geopolitical volatility: reports of Iran-related pressure on shipping (Strait of Hormuz) and contacts between Iranian and U.S. officials are increasing supply- and policy-risk that can swing CVX’s short-term performance despite commodity tailwinds. Read More.

Analyst Ratings Changes

Several research firms recently weighed in on CVX. JPMorgan Chase & Co. upgraded shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price objective for the company in a research report on Tuesday, January 20th. UBS Group reaffirmed a “buy” rating and set a $212.00 price target on shares of Chevron in a research note on Monday, February 2nd. Piper Sandler decreased their price target on Chevron from $178.00 to $174.00 and set an “overweight” rating on the stock in a report on Thursday, January 8th. Jefferies Financial Group upped their target price on shares of Chevron from $174.00 to $189.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Finally, Barclays raised their target price on shares of Chevron from $158.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 21st. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $178.95.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CVX. Vanguard Group Inc. lifted its holdings in Chevron by 17.9% during the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after acquiring an additional 27,961,463 shares in the last quarter. Norges Bank acquired a new stake in shares of Chevron during the fourth quarter worth about $3,727,586,000. State Street Corp lifted its holdings in shares of Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after purchasing an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc increased its stake in Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after purchasing an additional 8,091,570 shares in the last quarter. Finally, Primecap Management Co. CA acquired a new stake in Chevron during the 3rd quarter worth approximately $988,083,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

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.