NewEdge Wealth LLC Increases Stock Holdings in Chevron Corporation $CVX

NewEdge Wealth LLC increased its stake in shares of Chevron Corporation (NYSE:CVX) by 5.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 85,754 shares of the oil and gas company’s stock after purchasing an additional 4,154 shares during the period. NewEdge Wealth LLC’s holdings in Chevron were worth $13,070,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Chevron by 17.9% in the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after buying an additional 27,961,463 shares in the last quarter. State Street Corp boosted its position in Chevron by 9.1% in 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 buying an additional 12,789,399 shares during the last quarter. Northern Trust Corp grew its stake in shares of Chevron by 15.3% during the third quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company’s stock valued at $3,528,890,000 after acquiring an additional 3,007,403 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Chevron by 1.6% during the third quarter. Fisher Asset Management LLC now owns 21,152,060 shares of the oil and gas company’s stock valued at $3,284,704,000 after acquiring an additional 325,255 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Chevron by 27.9% during the third quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company’s stock worth $3,047,900,000 after acquiring an additional 4,279,918 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent analyst reports. Bank of America boosted their price target on Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a report on Friday, March 20th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $216.00 target price on shares of Chevron in a research report on Wednesday. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.74.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s first-quarter results beat profit expectations, with adjusted EPS of $1.41 versus the $0.97 consensus, reinforcing the company’s ability to generate earnings even amid volatile energy markets. Chevron (CVX) Reports Q1 Earnings: What Key Metrics Have to Say
• Positive Sentiment: Goldman Sachs raised its price target on Chevron and kept a Buy rating, citing improved confidence in cash flow, production, and shareholder return plans after the earnings report. Goldman Sachs gives Chevron stock price new target after earnings
• Positive Sentiment: Multiple research notes and articles highlighted Chevron as a dividend aristocrat and a long-term value play, which can support investor interest in the stock. 3 ‘Strong Buy’ Dividend Aristocrat Stocks, 5/8/26
• Positive Sentiment: TD Cowen nudged its price target higher to $205 while maintaining a Hold rating, and Erste Group also lifted its FY2027 earnings estimate, signaling still-constructive expectations for Chevron’s earnings outlook.
• Neutral Sentiment: Analysts and commentary also pointed to Chevron’s LNG strategy and South Asian export growth as a longer-term earnings driver, but this is more of a strategic backdrop than an immediate catalyst. Can Chevron’s South Asian LNG Strategy Drive Long-Term Growth?
• Negative Sentiment: Despite the earnings beat, Chevron’s revenue came in below Wall Street estimates, which may be tempering enthusiasm and contributing to the stock’s weakness. Chevron (CVX) Reports Q1 Earnings: What Key Metrics Have to Say

Insider Activity

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction on Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the sale, the insider directly owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 195,000 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $184.78, for a total transaction of $36,032,100.00. Following the completion of the transaction, the director owned 658,045 shares in the company, valued at approximately $121,593,555.10. The trade was a 22.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 816,439 shares of company stock valued at $154,339,900 over the last quarter. 0.56% of the stock is owned by company insiders.

Chevron Trading Down 0.6%

NYSE:CVX opened at $181.37 on Friday. The company has a market cap of $361.35 billion, a PE ratio of 31.43, a P/E/G ratio of 0.63 and a beta of 0.51. The business’s 50 day moving average is $193.21 and its two-hundred day moving average is $172.09. 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 Corporation has a 52 week low of $133.77 and a 52 week high of $214.71.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 7.01% and a net margin of 5.79%.The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.18 EPS. On average, analysts predict that Chevron Corporation will post 15.02 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s payout ratio is currently 123.40%.

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.