Chevron (NYSE: CVX) is a global energy company that explores, produces, and refines oil and natural gas while also investing in liquefied natural gas and renewables. It stands as one of the world’s largest integrated energy players, recently trading around $157 per share with a market value near $319 billion.
Once viewed mainly as a traditional oil and gas giant, Chevron has expanded into a broad supplier of energy across multiple markets, supported by a balance sheet that helps it weather volatile commodity cycles. Its strong 39% gross margins, steady 4.4% dividend yield, and conservative leverage of just 0.69x net debt/EBITDA highlight its financial resilience, even as Wall Street projects a modest -2.1% EPS CAGR over the next two years.
Today, Chevron’s shareholder base includes some of the world’s largest institutions and well-known investors like Warren Buffett’s Berkshire Hathaway.
Who Are Chevron’s Top Shareholders?
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Chevron is a global energy company involved in exploring, producing, and refining oil and natural gas while also investing in liquefied natural gas and renewables. Its stock is held mostly by the world’s largest institutional investors, index funds, and Berkshire Hathaway.
- Vanguard Group: 155.1M shares (7.6%), ~$24.4B. Trimmed 552K shares (-0.35%).
- State Street: 139.8M shares (6.8%), ~$22.0B. Cut 4.56M shares (-3.2%).
- Berkshire Hathaway: 122.1M shares (6.0%), ~$19.2B. Added 3.45M shares (+2.9%).
- BlackRock: 80.8M shares (4.0%), ~$12.7B. Reduced 3.36M shares (-4.0%).
- Geode Capital: 36.8M shares (1.8%), ~$5.8B. Trimmed 510K shares (-1.4%).
One highlight from last quarter is Andrew Weiss’s Weiss Asset Management, which boosted its Chevron stake by more than 2,020%, now holding about 163K shares worth $23 million. That kind of jump looks like an aggressive move to build exposure.
Another notable move came from Dmitry Balyasny’s Balyasny Asset Management, which increased its position by over 609% to roughly 516K shares valued at $74 million. This sharp increase may suggest growing confidence in Chevron’s ability to deliver steady returns.
Meanwhile, Ken Griffin’s Citadel Advisors raised its holdings by nearly 576%, now owning around 2.29 million shares worth $329 million. That size and scale of buying makes Citadel one of the more significant hedge fund holders of Chevron.
Chevron’s ownership looks anchored by passive giants, which helps keep it tied to global index flows. Berkshire’s increase may signal confidence in long-term cash generation, while reductions from State Street and BlackRock could point to caution about near-term growth.
On top of that, several hedge funds have made aggressive bets, suggesting that some see opportunity at current levels.
See whether Chevron’s top shareholders are buying or selling today >>>
Chevron’s Recent Insider Trades
Insider activity at Chevron offers another lens into sentiment around the stock. While most recent trades have been relatively small, one significant transaction stands out and may provide investors with a signal worth noting.
Here are some recent insider sales:
- John B. Hess (Director): Sold 375K shares at ~$158, worth ~$59M (Aug 2025).
- Dambisa Moyo (Director): Sold 495 shares (Aug 2025).
- Other directors and officers: Several smaller disposals in June and July, mostly under 2K shares.
It appears the most notable move was Hess’s sizable sale, while other trades were minor. The absence of insider buying could suggest leaders are cautious at current levels, though sales may also reflect diversification or personal financial planning.
See recent insider trade data for over 50,000 global stocks (It’s free) >>>
What the Ownership & Insider Trade Data Tell Us
Chevron’s ownership is anchored by passive giants like Vanguard, State Street, and BlackRock, which helps keep the stock widely held in global portfolios. Berkshire Hathaway’s steady additions may signal confidence in Chevron’s cash flows and dividend strength, while reductions from other large managers could point to caution about near-term growth prospects.
Insider activity appears tilted toward sales, with John Hess’s large disposal drawing the most attention. Other insider trades were relatively small, and there has been no notable buying. This may suggest that leadership is not in a hurry to add at current price levels.
For investors, the message looks mixed. Institutions remain supportive through index flows, and Berkshire stands out as a conviction buyer, but insider activity and trimming by other large managers hint at a more cautious stance on the company’s growth outlook.
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