Chevron (CVX) CLO R. Hewitt Pate Sells $541K of Stock
Key Points
- Chevron Corporation chief legal officer R. Hewitt Pate sold 2,400 shares on October 19, 2026, fetching about $541,465 under a pre-arranged plan.
- After the trade, R. Hewitt Pate holds 8,791 $CVX shares, down 21.45% from before the trade.
- The energy company recently traded around $226.77, sitting just below its mean analyst price target ahead of its upcoming October 30 earnings report.
- Wall Street analysts maintain a consensus buy recommendation on the stock with a mean target price of $228.88.
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Chevron Corporation chief legal officer R. Hewitt Pate sold 2,400 shares of company stock on October 19, 2026, according to a Form 4 filing with the Securities and Exchange Commission. The transaction brought in about $541,465 at an average price of $225.61 per share. The sale was executed pursuant to a pre-arranged Rule 10b5-1 trading plan. Following the transaction, the executive retains 8,791 shares in the energy giant, marking a 21.45% reduction in his direct holdings.
CVX
Chevron Corporation
Inside R. Hewitt Pate's Chevron Trade
The planned sale reduced Pate's direct ownership position from 11,191 shares down to 8,791 shares. Chevron shares closed at $224.37 on the day of the trade. The transaction comes as the company's shares trade near the upper end of their 52-week range.
Other Institutional Activity in Chevron Corporation
Ninety One UK reduced its holdings by 311,217 shares, ending with 2,637,019 shares worth about $538,505,661. Mirae Asset Securities opened a new position with 100,177 shares valued at about $20,457,145. Waverly Advisors grew its holdings by 5,394 shares, ending with 146,852 shares worth about $24,342,186. Silvercrest Asset Management Group reduced its holdings by 125,593 shares, ending with 487,489 shares worth about $80,806,173. CTC sold out of its position, dropping its holdings by 10,696 shares to end with zero shares.
Chevron Corporation Stock Up 0.8%
The stock recently traded around $226.77 as of October 21, 2026, up about 1.1% from its event-day close of $224.37. The shares sit roughly 0.5% above their 52-week high of $225.67 and about 54.8% above their 52-week low of $146.49. The company has a market capitalization of roughly $440.1 billion and a forward price-to-earnings ratio of 14.7.
Recent Earnings
Chevron posted trailing twelve-month revenue of $209.38 billion alongside basic earnings of $10.60 per share. The company reported a net profit margin of 9.8% and a return on equity of 12.2%. The energy producer's next quarterly financial report is scheduled for release 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
The energy firm pays an annual dividend rate of $7.12 per share, which translates to a dividend yield of 3.17%. The payout is supported by a dividend payout ratio of 67.2% based on recent earnings.
Insider Buying and Selling at Chevron Corporation
Prior insider transactions at Chevron include several open-market sales by top officers and directors over the summer months. Officer Jeff B. Gustavson sold 14,044 shares on August 11, 2026, for about $2.73 million. Chief Executive Officer Michael K. Wirth sold 317,100 shares on August 14, 2026, valued at roughly $63.56 million. Officer Andrew Benjamin Walz sold 16,800 shares on August 17, 2026, for about $3.37 million. Robert Hewitt Pate previously sold 2,470 shares on August 18, 2026, for about $506,619.
Analysts Set New Price Targets
On September 25, 2026, HSBC maintained its buy rating while raising its price target to $250.00 from $218.00. TD Cowen maintained a hold rating on September 28, 2026, raising its target to $215.00 from $205.00. UBS maintained a buy rating on October 8, 2026, lifting its target to $235.00 from $220.00. TD Cowen again maintained a hold rating on October 12, 2026, adjusting its target to $225.00. Morgan Stanley maintained an overweight rating on October 15, 2026, raising its target to $226.00 from $218.00. Wall Street currently maintains a consensus buy rating on the stock with a mean price target of $228.88 across 24 analyst opinions.
About Chevron Corporation
Headquartered in Houston, Texas, Chevron Corporation operates as an integrated energy and chemical producer with worldwide operations spanning oil and gas exploration, refining, and petroleum product distribution. The company manages extensive upstream extraction fields and downstream processing facilities.
Bottom Line
Investors are watching for Chevron's upcoming earnings report on October 30, 2026, to gauge operational performance across its upstream and downstream segments. Insider trades filed on Form 4 reflect routine liquidity decisions by executives rather than directional shifts in company strategy.
Related Filing Alerts
Source: R. Hewitt Pate's Form 4 filing on $CVX (Oct 19, 2026). Written by software, not financial advice. How we make alerts