Chevron Corporation $CVX Stake Lifted by Cidel Asset Management Inc.

Cidel Asset Management Inc. boosted its stake in Chevron Corporation (NYSE:CVX) by 14.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,325 shares of the oil and gas company’s stock after buying an additional 4,332 shares during the period. Cidel Asset Management Inc.’s holdings in Chevron were worth $6,895,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CVX. Dakota Wealth Management increased its stake in shares of Chevron by 14.9% in 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 purchasing an additional 10,822 shares during the period. Brooklyn FI LLC bought a new stake in shares of Chevron during the third quarter valued at approximately $431,000. Clear Trail Advisors LLC acquired a new position in shares of Chevron during the fourth quarter worth approximately $10,167,000. Finemark National Bank & Trust boosted its position in shares of Chevron by 40.3% during the third quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock worth $8,779,000 after buying an additional 16,243 shares during the period. Finally, Curtis Advisory Group LLC bought a new position in Chevron in the 4th quarter worth approximately $1,381,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on CVX shares. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research report on Friday, March 20th. BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target for the company in a research report on Friday, April 17th. Zacks Research cut Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. The Goldman Sachs Group reissued a “buy” rating and set a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $220.00 price objective on shares of Chevron in a research note on Tuesday, May 5th. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.70.

Insider Activity

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the company’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the sale, the insider directly owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction that occurred 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 completion of the transaction, the director directly owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 615,200 shares of company stock valued at $118,022,760 in the last ninety days. Company insiders own 0.56% of the company’s stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s 20-year power deal with Microsoft for a large natural-gas-powered data center project is being viewed as a potentially significant new growth platform, opening a long-duration revenue opportunity tied to AI infrastructure. Chevron and Microsoft Partner on Landmark Texas AI Power Project
• Positive Sentiment: Texas Pacific Land’s agreement to provide land and water support for Chevron’s large-scale power project suggests the initiative is moving forward and could strengthen investor confidence in Chevron’s expansion into data-center power. Texas Pacific Land Partners with Chevron on Data Center Project
• Neutral Sentiment: Analyst coverage continues to focus on Chevron’s position versus Shell and other energy peers, keeping attention on the company’s relative valuation and growth profile. Analysts Offer Insights on Energy Companies: Chevron (CVX) and Shell (SHEL)
• Negative Sentiment: Crude oil weakness is pressuring the broader energy group, which can weigh on Chevron’s near-term earnings outlook and sentiment toward the stock. Peabody Energy and Crescent Energy Shares Are Falling, What You Need To Know
• Negative Sentiment: News that President Trump said Chevron is among firms being probed over gasoline-price spikes adds regulatory risk and could raise investor concerns about possible investigations or political pressure. Trump says Exxon, Chevron among firms probed as part of surge in gas prices

Chevron Stock Performance

CVX opened at $171.73 on Thursday. The company has a market capitalization of $342.02 billion, a price-to-earnings ratio of 29.76, a price-to-earnings-growth ratio of 0.58 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. Chevron Corporation has a 1-year low of $142.40 and a 1-year high of $214.71. The business has a 50 day moving average price of $185.68 and a two-hundred day moving average price of $179.68.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $51.86 billion. During the same period last year, the company posted $2.18 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts predict that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Chevron Company Profile

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.