Ninety One UK 13F: Cuts Chevron (CVX) Stake by $64M
Ninety One UK reduced its holdings in Chevron Corporation during the quarter, filing details show.
Reviewed by automated data checks against the source filing. How we make and check alerts
Ninety One UK sold 311,217 shares from its stake in Chevron Corporation ($CVX), a 10.56% decrease, according to a 13F filing with the SEC dated October 15, 2026. It reported 2,637,019 shares worth $538.51 million at the end of the quarter.
Since the filing, $CVX is up 2.6% to date (from the $219.32 close on Oct 15, 2026).
CVX
Chevron Corporation
Key Points
- Ninety One UK trimmed its Chevron Corporation stake by 10.6% during the period, selling 311,217 shares to end with 2,637,019 shares.
- Chevron Corporation trades recently around $224.44, sitting near its 52-week high with a market capitalization of roughly $430.2 billion.
- Other major institutional investors adjusted their positions, with Blackrock Inc. growing its stake by 10.1 million shares to 154,824,622 shares.
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Not investment advice. EarningsIQ is not a registered investment adviser, and this automated Chevron Corporation alert may contain errors. Disclosures
Ninety One UK trimmed its position in Chevron Corporation (NYSE:CVX) during the quarter, according to a Form 13F filing with the SEC on October 15, 2026. Institutional holdings reports are backward-looking and show positions as of the end of the reported period, meaning they may not reflect the fund's current holdings today.
What Changed in Ninety One UK's Chevron Position
Ninety One UK reduced its stake in the energy giant by 311,217 shares, a 10.6% decrease from the previous quarter. The fund ended the period with 2,637,019 shares of Chevron Corporation. The reported value of the remaining stake stood at $538,505,661.
Other Institutional Activity in Chevron
Other major institutional managers made substantial moves in Chevron during the same reporting window. Blackrock Inc. grew its holdings by 10,101,663 shares, ending with 154,824,622 shares worth about $34,833,992,554. State Street Corporation reduced its stake by 4,685,886 shares, leaving it with 148,447,634 shares valued at $33,399,233,989. Vanguard Capital Management LLC grew its holdings by 416,444 shares, ending with 122,899,830 shares worth about $27,651,233,426. Berkshire Hathaway, Inc kept its position steady with 84,375,856 shares valued at $18,983,724,304, showing no change in its share count. Geode Capital Management, LLC grew its holdings by 860,406 shares, ending with 44,535,812 shares worth about $10,020,112,586.
Chevron Corporation Stock Up 1.1%
Chevron Corporation shares recently traded around $224.44 as of October 16, 2026. The stock sits just above its 52-week high of $223.46, and well above its 50-day moving average of $206.42. Analysts hold a consensus buy rating on the stock with a mean price target of $227.92.
Recent Earnings
For its trailing twelve months, Chevron reported $209,383,997,440 in revenue and earnings of $10.60 per share. The company posted a net profit margin of 9.8% and a return on equity of 12.2%. The company's next earnings report is scheduled for 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 annualized dividend yielding 3.25%, supported by a dividend payout ratio of 67.2% of earnings.
Insider Buying and Selling at Chevron Corporation
Company insiders executed several stock sales prior to the filing date. Jeff B. Gustavson sold 14,044 shares on August 11, 2026, at an average price of $194.95 for a total value of $2,737,867. Chief Executive Officer Michael K. Wirth sold 317,100 shares on August 14, 2026, valued at $63,566,861. Andrew Benjamin Walz sold 16,800 shares on August 17, 2026, at $201.06 per share totaling $3,377,833. Robert Hewitt Pate sold 2,470 shares on August 18, 2026, at $205.11 per share for a total of $506,619.
Analysts Set New Price Targets
Wall Street firms updated their views on Chevron ahead of the filing. On September 25, 2026, HSBC maintained its Buy rating with a target of $250.00. TD Cowen maintained a Hold rating on September 28, 2026, lifting its target to $215.00. UBS maintained a Buy rating on October 8, 2026, raising its target to $235.00. TD Cowen maintained a Hold rating again on October 12, 2026, raising its target to $225.00. Morgan Stanley maintained an Overweight rating on October 15, 2026, setting a target of $226.00.
About Chevron
Headquartered in Houston, Texas, Chevron Corporation operates as a global energy and chemical company. It runs integrated operations spanning upstream exploration and production as well as downstream refining and marketing. The company plays a central role in global oil and gas markets.
Bottom Line
Ninety One UK's reduction in Chevron comes as the energy company trades near the top of its 52-week range. Investors will look toward the upcoming earnings release on October 30, 2026, for further insight into the company's financial direction. Form 13F filings provide a look backward at institutional ownership and do not represent current trading activity.
Related Filing Alerts
Source: Ninety One UK's 13F filing on $CVX (Oct 15, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Ninety One UK 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts