Hsbc Holdings PLC Has $577.36 Million Position in Chevron Corporation $CVX

Hsbc Holdings PLC lowered its stake in shares of Chevron Corporation (NYSE:CVX) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,789,698 shares of the oil and gas company’s stock after selling 3,182 shares during the quarter. Hsbc Holdings PLC owned about 0.19% of Chevron worth $577,363,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Dakota Wealth Management boosted its holdings in Chevron by 14.9% during the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock valued at $12,690,000 after acquiring an additional 10,822 shares during the period. Brooklyn FI LLC bought a new position in shares of Chevron in the third quarter worth about $431,000. Clear Trail Advisors LLC bought a new position in shares of Chevron in the fourth quarter worth about $10,167,000. Finemark National Bank & Trust lifted its position in shares of Chevron by 40.3% during the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock worth $8,779,000 after purchasing an additional 16,243 shares during the last quarter. Finally, Curtis Advisory Group LLC acquired a new position in shares of Chevron during the 4th quarter worth about $1,381,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research analyst reports. Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price on the stock in a report on Thursday, April 9th. Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. Piper Sandler increased their price objective on Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Bank of America raised their price objective on shares of Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Finally, Barclays boosted their target price on shares of Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 26th. Eighteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.70.

Insiders Place Their Bets

In related news, insider R. Hewitt Pate sold 40,200 shares of the company’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider directly owned 8,638 shares in the company, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 615,200 shares of company stock valued at $118,022,760 over the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

Chevron Stock Down 0.1%

CVX stock opened at $173.51 on Friday. Chevron Corporation has a twelve month low of $142.40 and a twelve month high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a market cap of $345.56 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 0.57 and a beta of 0.48. The business’s 50-day simple moving average is $186.63 and its 200 day simple moving average is $179.01.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the prior year, the firm posted $2.18 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts anticipate that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.1%. Chevron’s payout ratio is currently 123.40%.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.