Nuveen LLC Sells 96,447 Shares of Chevron Corporation $CVX

Nuveen LLC lowered its holdings in shares of Chevron Corporation (NYSE:CVX) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,400,583 shares of the oil and gas company’s stock after selling 96,447 shares during the quarter. Nuveen LLC owned 0.47% of Chevron worth $1,432,743,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Core Wealth Advisors LLC bought a new position in Chevron during the fourth quarter valued at $26,000. Strategic Wealth Advisors LLC bought a new position in Chevron during the fourth quarter valued at $33,000. Daytona Street Capital LLC bought a new position in Chevron during the fourth quarter valued at $44,000. Maseco LLP bought a new position in Chevron during the fourth quarter valued at $49,000. Finally, Turning Point Benefit Group Inc. bought a new position in Chevron during the third quarter valued at $49,000. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 2.1%

CVX stock opened at $185.81 on Friday. The company has a market capitalization of $370.05 billion, a PE ratio of 32.20, a P/E/G ratio of 0.63 and a beta of 0.48. Chevron Corporation has a 12 month low of $142.40 and a 12 month high of $214.71. The firm’s 50-day moving average is $188.96 and its 200 day moving average is $178.00. 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 posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.18 EPS. On average, research analysts anticipate that Chevron Corporation will post 15.74 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were paid a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CVX. The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 target price on shares of Chevron in a research note on Wednesday, May 6th. Piper Sandler increased their target price on shares of Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Zacks Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday. Sanford C. Bernstein reduced their target price on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a research note on Monday, May 11th. Finally, UBS Group increased their target price on shares of Chevron from $218.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $205.70.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s Tengiz project expansion is being highlighted as a major growth driver, with output capacity rising to 1 million BOE/d and the asset expected to support cash flow, production growth and shareholder returns through 2030. How Investment in TCO Is Powering Chevron’s Next Wave of Cash Growth
• Positive Sentiment: Analysts at Erste Group raised FY2027 EPS estimates for Chevron, signaling slightly better earnings expectations ahead.
• Positive Sentiment: Chevron was cited among oil stocks benefiting from higher crude prices and geopolitical tensions, which can improve upstream margins and near-term cash generation. Chevron Corporation (CVX) Benefited from Escalating Conflict in Iran
• Positive Sentiment: Market commentary and technical analysis described Chevron as showing relative strength, with bullish signals building toward a potential breakout. Chevron (CVX) Price Forecast: Bullish Signals Build Toward Breakout
• Neutral Sentiment: Chevron’s CFO was featured discussing how the finance team is using AI, which is more of a strategic/operations story than a direct stock-moving catalyst. Chevron’s CFO on why finance chiefs are defining AI’s business value
• Neutral Sentiment: Recent coverage also noted Chevron as a dividend and value-name favorite, reinforcing its defensive income appeal rather than changing the core investment thesis.
• Negative Sentiment: Zacks Research downgraded Chevron from strong-buy to hold, which may have added some pressure to the shares.

Insider Activity

In related news, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the transaction, the insider owned 8,638 shares of the company’s stock, valued at $1,842,485.40. This trade represents a 82.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 615,200 shares of company stock worth $118,022,760 in the last ninety days. 0.56% of the stock is currently owned by insiders.

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.