SouthState Bank Corp Increases Stake in Chevron Corporation $CVX

SouthState Bank Corp grew its stake in shares of Chevron Corporation (NYSE:CVX) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,461 shares of the oil and gas company’s stock after buying an additional 4,351 shares during the period. Chevron accounts for about 1.0% of SouthState Bank Corp’s investment portfolio, making the stock its 25th largest position. SouthState Bank Corp’s holdings in Chevron were worth $22,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Midwest Capital Advisors LLC purchased a new position in Chevron during the first quarter valued at $25,000. Phillip James Consulting Co. bought a new position in shares of Chevron during the 4th quarter valued at about $26,000. Core Wealth Advisors LLC purchased a new position in shares of Chevron during the fourth quarter valued at about $26,000. Karpus Management Inc. bought a new stake in shares of Chevron in the fourth quarter worth about $27,000. Finally, Basso Capital Management L.P. bought a new stake in shares of Chevron in the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.3%

CVX stock opened at $181.73 on Wednesday. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The firm’s 50-day moving average is $181.47 and its 200 day moving average is $181.95. The company has a market capitalization of $361.94 billion, a PE ratio of 31.50, a P/E/G ratio of 0.62 and a beta of 0.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.18 EPS. On average, research analysts anticipate that Chevron Corporation will post 15.28 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s payout ratio is currently 123.40%.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted by analysts as one of several Dividend Aristocrats with a “Strong Buy” rating, reinforcing its appeal as a defensive income stock. Article Title
• Positive Sentiment: Chevron extended its Western Australia gas supply agreement with Alinta Energy through 2032, supporting steady cash flow and strengthening its LNG and gas market position. Article Title
• Positive Sentiment: Multiple reports said Chevron could be headed for a free-cash-flow surge in the second half of 2026, which would support buybacks, dividends, and valuation upside. Article Title
• Positive Sentiment: Chevron’s AI-related power initiative is drawing investor interest after the company moved into gas-to-power for data centers, creating a new growth angle beyond traditional oil production. Article Title
• Neutral Sentiment: Chevron is being watched closely by investors and news outlets, but these mentions mainly reflect ongoing market interest rather than a new fundamental catalyst. Article Title
• Negative Sentiment: Oil prices eased after the U.S. backed away from a proposed 20% Hormuz cargo fee, reducing the near-term geopolitical premium that had supported energy stocks. Article Title
• Negative Sentiment: Broader crude strength has been uneven, and any pullback in oil prices can weigh on Chevron’s shares even when company-specific news is constructive. Article Title

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CVX. Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a research note on Thursday, July 2nd. Jefferies Financial Group reiterated a “buy” rating and set a $216.00 target price on shares of Chevron in a research report on Friday. Mizuho raised their target price on shares of Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. The Goldman Sachs Group restated a “buy” rating and issued a $216.00 price target on shares of Chevron in a research report on Wednesday, May 6th. Finally, Citigroup increased their price objective on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Nineteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $206.83.

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

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.