CIBC Private Wealth Group LLC Has $258.34 Million Stock Holdings in Chevron Corporation $CVX

CIBC Private Wealth Group LLC decreased its stake in Chevron Corporation (NYSE:CVX) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,663,579 shares of the oil and gas company’s stock after selling 33,630 shares during the period. CIBC Private Wealth Group LLC’s holdings in Chevron were worth $258,337,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vishria Bird Financial Group LLC boosted its position in Chevron by 1.2% during the third quarter. Vishria Bird Financial Group LLC now owns 5,285 shares of the oil and gas company’s stock valued at $821,000 after purchasing an additional 65 shares during the last quarter. Nexus Investment Management ULC raised its stake in shares of Chevron by 0.9% during the 3rd quarter. Nexus Investment Management ULC now owns 7,641 shares of the oil and gas company’s stock worth $1,187,000 after purchasing an additional 65 shares in the last quarter. Scott & Selber Inc. raised its stake in shares of Chevron by 0.5% during the 3rd quarter. Scott & Selber Inc. now owns 13,391 shares of the oil and gas company’s stock worth $2,079,000 after purchasing an additional 65 shares in the last quarter. White Knight Strategic Wealth Advisors LLC boosted its holdings in shares of Chevron by 3.0% in the 2nd quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock valued at $319,000 after buying an additional 65 shares during the last quarter. Finally, William B. Walkup & Associates Inc. grew its stake in shares of Chevron by 1.0% in the third quarter. William B. Walkup & Associates Inc. now owns 6,356 shares of the oil and gas company’s stock valued at $987,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Progress on new upstream opportunities — Chevron is reported to be pursuing a deal in Venezuela that could meaningfully expand production if completed; this would be a long?term growth lever for CVX. Could an Oil Deal in Venezuela Boost Chevron’s Stock?
• Positive Sentiment: Downstream expansion in Brazil — CVX is in advanced talks to buy a ~30% stake in Ultrapar’s Ipiranga retail unit, which would boost retail and refining exposure in a fast?growing market. Chevron in Advanced Negotiations to Buy 30% Stake in Ipiranga
• Positive Sentiment: Analyst support and price-target lifts — Mizuho raised its target and flagged an outperform view; Barclays also published a bullish forecast, both supporting upside to the shares. Mizuho price-target raise / Benzinga Barclays Forecasts Strong Price Appreciation for Chevron
• Positive Sentiment: Dividend durability and fund inclusion — Chevron extended its long dividend-growth streak and remains a core holding in high?yield/dividend funds, supporting investor demand for the stock. Is Chevron Balancing Dividend Strength With Rising Geopolitical Risk?
• Neutral Sentiment: Macro/commodity attention — Retail and analyst interest has CVX trending; Zacks and other outlets summarized fundamentals and positioning but offered no new catalyst beyond market interest. Chevron Is a Trending Stock (Zacks)
• Neutral Sentiment: Oil-price drivers — Rising WTI/Brent on Strait of Hormuz shipping uncertainty supports oil majors generally but also raises volatility risk; this is a market tailwind for CVX earnings but not company?specific. Oil jumps over 2% as doubts linger over U.S.-backed plan to protect Strait of Hormuz shipping
• Negative Sentiment: Reputational/regulatory risk — WSJ reporting about past dealings involving an ex?Chevron executive with U.S. intelligence raises governance and reputational questions that could attract regulatory or political scrutiny. Takeaways From WSJ Reporting on the CIA’s Dealings With an Ex-Chevron Executive
• Negative Sentiment: Compliance settlement — Chevron recently agreed to a settlement related to invalid renewable fuel credits; while not huge on the numbers, such items add headline risk and could affect ESG-focused investors. Is Chevron Balancing Dividend Strength With Rising Geopolitical Risk?

Insider Buying and Selling

In related news, CFO Eimear P. Bonner sold 32,100 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $175.01, for a total value of $5,617,821.00. Following the transaction, the chief financial officer owned 4,366 shares in the company, valued at approximately $764,093.66. This trade represents a 88.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R. Hewitt Pate sold 58,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $188.65, for a total value of $10,941,700.00. Following the completion of the transaction, the insider directly owned 8,558 shares of the company’s stock, valued at approximately $1,614,466.70. This trade represents a 87.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,099,397 shares of company stock worth $196,196,468 in the last quarter. Insiders own 0.21% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $198.54 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $396.16 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 1.83 and a beta of 0.67. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $200.73. The company has a 50-day simple moving average of $179.68 and a two-hundred day simple moving average of $162.85.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The firm had revenue of $45.79 billion for the quarter, compared to analyst estimates of $48.18 billion. During the same quarter in the prior year, the business posted $2.06 EPS. The business’s revenue was down 10.2% compared to the same quarter last year. Analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were given a dividend of $1.78 per share. This is an increase from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, February 17th. Chevron’s dividend payout ratio (DPR) is currently 106.91%.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. Morgan Stanley lowered their target price on shares of Chevron from $180.00 to $174.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Bank of America lifted their price objective on shares of Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. UBS Group restated a “buy” rating and set a $212.00 price objective on shares of Chevron in a research note on Monday, February 2nd. Sanford C. Bernstein upped their target price on shares of Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a report on Monday, January 5th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $190.00 target price on shares of Chevron in a research note on Monday, February 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $183.18.

Chevron 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.