Belpointe Asset Management LLC increased its Chevron Corporation stake by 28.9%, acquiring 7,102 additional shares and lifting its total to 31,653 shares, valued at approximately $4.92 million as of the latest SEC filing. Norges Bank initiated a new position in the second quarter worth about $2.72 billion. Laurel Wealth Advisors LLC more than doubled its holdings by 14,194.2%, now owning 3.72 million shares valued at $533.0 million after purchasing 3.70 million shares. Berkshire Hathaway Inc. added 3.45 million shares in Q2, a 2.9% increase, bringing its total to 122.06 million shares worth $17.48 billion. Massachusetts Financial Services Co. grew its position by 32.1% in Q3 to 9.13 million shares, valued at $1.42 billion, and Charles Schwab Investment Management Inc. boosted its stake by 4.0% in Q2 to 34.77 million shares worth $4.98 billion. Hedge funds and other institutions now own 72.42% of Chevron’s outstanding shares.

In its third-quarter report, Chevron delivered earnings per share of $1.85, surpassing consensus estimates by $0.14, on revenue of $48.17 billion versus analyst expectations of $46.99 billion. Net margin was 6.57% and return on equity stood at 8.74%. Quarter-over-quarter revenue declined 1.9% year-on-year, and Q3 EPS fell from $2.48 in the prior year’s comparable period. Sell-side analysts project full-year EPS of 10.79, reflecting confidence in the company’s cash-flow generation despite near-term commodity price headwinds.

Chevron declared a quarterly dividend of $1.71 per share, paid on December 10 to shareholders of record as of November 18, representing an annualized payout of $6.84 and a yield of 4.1%. The company’s dividend payout ratio stands at 96.2%, underscoring its commitment to returning capital to shareholders but also highlighting near-full coverage of dividends by current earnings.

During the last quarter, CEO Michael K. Wirth sold 320,700 shares, reducing his holding by 95.7%, in transactions totaling approximately $52.3 million. CFO Eimear P. Bonner sold 28,334 shares, cutting her stake by 86.7% for proceeds of roughly $4.68 million. Insiders collectively disposed of 635,190 shares worth around $100.3 million, leaving executives with just 0.20% ownership of the company’s stock, a level that may prompt investor scrutiny over alignment of management and shareholder interests.