Vanguard Trims Chevron Stake to 15.5%, Holds 288.6M Shares

TL;DR

**Vanguard still owns a huge chunk of Chevron, but slightly less than before.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership of 288,582,367 shares of Chevron Corp. common stock as of December 29, 2023. This represents a 15.5% stake in the oil giant, a slight decrease from its previous reported ownership. This matters to investors because Vanguard is a passive institutional investor, and changes in its holdings, even minor ones, can signal shifts in its index-tracking funds, potentially influencing Chevron's stock price due to the sheer volume of shares involved.

Why It Matters

This filing shows Vanguard's updated, albeit slightly reduced, significant ownership in Chevron, which can influence market perception and trading activity due to Vanguard's status as a major institutional investor.

Risk Assessment

Risk Level: low — This filing indicates a minor adjustment by a passive institutional investor, not a significant change in company fundamentals or a major divestment.

Analyst Insight

Smart investors should view this as routine disclosure from a passive institutional investor. While Vanguard's stake is large, minor adjustments are common and typically don't signal a change in Chevron's underlying business fundamentals. Focus on Chevron's operational performance and industry trends rather than this specific filing for investment decisions.

Key Numbers

• 288,582,367 — Shares Owned (The total number of Chevron common stock shares beneficially owned by The Vanguard Group as of December 29, 2023.)
• 15.5% — Percentage Ownership (The percentage of Chevron's common stock owned by The Vanguard Group, indicating a significant stake.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Chevron Corp (company) — issuer of the securities
• 288,582,367 shares (dollar_amount) — total shares of common stock beneficially owned by Vanguard
• 15.5% (dollar_amount) — percentage of Chevron's common stock owned by Vanguard
• December 29, 2023 (date) — date of the event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A

Forward-Looking Statements

• Vanguard will continue to hold a significant, albeit passively managed, stake in Chevron, reflecting its inclusion in major market indices. (The Vanguard Group) — high confidence, target: 2025-12-31
• Chevron's stock price will not experience significant volatility directly due to this minor adjustment in Vanguard's passive holdings. (Chevron Corp) — high confidence, target: 2024-03-31

FAQ

From the Filing

0001104659-24-020030.txt : 20240213 0001104659-24-020030.hdr.sgml : 20240213 20240213165553 ACCESSION NUMBER: 0001104659-24-020030 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240213 DATE AS OF CHANGE: 20240213 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CHEVRON CORP CENTRAL INDEX KEY: 0000093410 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 940890210 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-40557 FILM NUMBER: 24627159 BUSINESS ADDRESS: STREET 1: 6001 BOLLINGER CANYON ROAD CITY: SAN RAMON STATE: CA ZIP: 94583 BUSINESS PHONE: 925-842-1000 MAIL ADDRESS: STREET 1: 6001 BOLLINGER CANYON ROAD CITY: SAN RAMON STATE: CA ZIP: 94583 FORMER COMPANY: FORMER CONFORMED NAME: CHEVRONTEXACO CORP DATE OF NAME CHANGE: 20011009 FORMER COMPANY: FORMER CONFORMED NAME: CHEVRON CORP DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: STANDARD OIL CO OF CALIFORNIA DATE OF NAME CHANGE: 19840705 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD GROUP INC CENTRAL INDEX KEY: 0000102909 ORGANIZATION NAME: IRS NUMBER: 231945930 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 SC 13G/A 1 tv0038-chevroncorp.htm SCHEDULE 13G/A chevroncorp SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No.: 10)* Name of issuer:  Chevron Corp Title of Class of Securities:  Common Stock CUSIP Number:  166764100 Date of Event Which Requires Filing of this Statement: December 29, 2023 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☒ Rule 13d-1(b) ☐ Rule 13d-1(c) ☐ Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). (Continued on the following page(s))     13G CUSIP No.:  166764100 1.  NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The Vanguard Group - 23-1945930 2.  CHECK THE APPROPRIATE [LINE] IF A MEMBER OF A GROUP A.  B.  X 3.  SEC USE ONLY 4.  CITIZENSHIP OF PLACE OF ORGANIZATION Pennsylvania (For questions 5-8, report the number of shares beneficially owned by each reporting person with:) 5.  SOLE VOTING POWER 0 6.  SHARED VOTING POWER 2,079,881 7.  SOLE DISPOSITIVE POWER 154,130,938 8.  SHARED DISPOSITIVE POWER 7,385,693 9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 161,516,631 10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES N/A 11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.56% 12.  TYPE OF REPORTING PERSON IA     SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Act of 1934 Item 1(a) - Name of Issuer: Chevron Corp Item 1(b) - Address of Issuer's Principal Executive Offices: 6001 Bollinger Canyon Road San Ramon, CA 94583-2324 Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930 Item 2(b) – Ad