Oppenheimer 13F: Adds $3.9M to Chevron (CVX) Stake
Key Points
- Oppenheimer's stake in Chevron Corporation now totals 205,219 shares, valued at approximately $41.9 million after the increase.
- Chevron's stock closed at $232.01 on October 26, 2026, and is currently trading around $228.31, about 1.6% below that closing price.
- The company has a market cap of about $455.1 billion and a P/E ratio of 22.33, with upcoming earnings expected on October 30, 2026.
Since the filing, $CVX is down 1.6% to date (from the $232.01 close on Oct 26, 2026).
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Oppenheimer has boosted its stake in Chevron Corporation (CVX) by 19,292 shares, increasing its total holdings to 205,219 shares. This move is disclosed in the fund's latest Form 13F filing with the SEC on October 26, 2026. The increase in shares is valued at about $41.9 million, contributing to Oppenheimer's total reported value in Chevron of approximately $2.73 billion.
CVX
Chevron Corporation
Oppenheimer vs. the S&P 500
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Where Chevron Fits in Oppenheimer's Portfolio
Chevron accounts for 1.53% of Oppenheimer's total reported 13F portfolio, ranking 20th among its 1,752 holdings. This increase indicates a 10.4% boost in Oppenheimer's position in the company.
Other Institutional Activity in Chevron
Several other funds have made moves in Chevron recently. Mirae Asset Securities added 100,177 shares, bringing its total to 100,177 shares valued at about $20.5 million. Meanwhile, Davenport reduced its holdings by 121,618 shares, leaving it with 670,395 shares worth about $136.9 million. Ninety One UK also trimmed its position by 311,217 shares, ending with 2,637,019 shares valued at approximately $538.5 million.
Chevron Corporation Stock Down 2.1%
Chevron's stock closed at $232.01 on October 26, 2026, but has recently traded around $228.31, which is about 1.6% below that closing price. The shares are currently above both their 50-day and 200-day moving averages by 8.2% and 18.9%, respectively, and well above their 52-week low of $146.49. With a market cap of around $455.1 billion and a P/E ratio of 22.33, the stock remains a significant player in the energy sector.
Recent Earnings
Chevron reported trailing twelve-month revenue of approximately $209.4 billion, with an earnings per share (EPS) of $10.39. The company has seen a year-over-year revenue growth of 53.5%. Its next earnings report is expected on October 30, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
5 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 46.5%. Revenue missed estimates by 9.6%.
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Profit surprise
EBITDA beat by 3 percent. Operating income missed by 7 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
5 target raises.
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Earnings quality
Gross margin down 19.4 points. Operating margin down 2.5 points. Positive free cash flow.
Earnings Call Summary
The quarter delivered $1.41 per share in adjusted earnings, beating consensus, but revenue of $47.6 billion fell short of the $52.6 billion street expected. The shortfall was mainly a revenue recognition timing issue from a sharp rise in commodity prices in March, which created about $3 billion in unfavorable mark-to-market effects on derivatives. Core operations remain strong, with Guyana and TCO running at full rates, Asian refineries running hard on Chevron crude, and the company capturing real value from integrating Hess assets. Management stayed disciplined, saying it is too early to change strategy after eight weeks of Middle East conflict.
Guidance Chevron held its full-year capital spending at $18 billion to $19 billion and reaffirmed production growth of 7 percent to 10 percent. The company raised affiliate distribution expectations to over $2 billion above first quarter because TCO, CPChem, and Angola LNG are running strong. At $70 per barrel Brent, cash flow will be solid, and higher prices would boost results further.
Fine but not compelling. Acceptable results that likely do not create a meaningful forward reset.
Dividend
Chevron pays an annual dividend of $7.12 per share, translating to a yield of approximately 3.07%. The dividend payout ratio stands at 67.2%.
Insider Buying and Selling at Chevron Corporation
Recent insider activity includes several sales by R. Hewitt Pate, the Chief Legal Officer, who sold 40,700 shares on October 20, 2026, at an average price of $226.65, totaling about $9.2 million. Another sale by Pate involved 2,400 shares at $225.61, valued at about $541,466.
Analysts Set New Price Targets
On September 25, 2026, HSBC maintained a "Buy" rating on Chevron with a target price of $250.00, up from $218.00. UBS also maintained a "Buy" rating with a target of $235.00 on October 8, 2026. The consensus among analysts gives Chevron a mean price target of $232.50, with 24 opinions suggesting a "Buy" recommendation.
About Chevron Corporation
Chevron Corporation is an integrated energy company based in Houston, Texas. It operates in both upstream and downstream segments, engaging in oil and gas exploration, production, and refining. With a significant market presence and a robust financial outlook, Chevron continues to be a key player in the energy sector.
Bottom Line
Investors should keep an eye on Chevron's upcoming earnings report on October 30, 2026, for insights into its financial performance. Oppenheimer's recent position adjustment reflects a continued confidence in Chevron's growth potential amidst recent market activity.
Related Filing Alerts
Source: Oppenheimer's 13F filing on $CVX (Oct 26, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts