Investment Management Corp of Ontario Acquires 64,839 Shares of Chevron Corporation $CVX

Investment Management Corp of Ontario raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 62.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 168,839 shares of the oil and gas company’s stock after acquiring an additional 64,839 shares during the quarter. Investment Management Corp of Ontario’s holdings in Chevron were worth $25,733,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Janus Henderson Group PLC grew its stake in shares of Chevron by 25.5% during the 4th quarter. Janus Henderson Group PLC now owns 4,877,045 shares of the oil and gas company’s stock worth $743,271,000 after acquiring an additional 990,543 shares in the last quarter. Evolve Private Wealth LLC bought a new position in shares of Chevron during the 4th quarter worth approximately $2,202,000. First Manhattan CO. LLC. grew its stake in shares of Chevron by 1.8% during the 4th quarter. First Manhattan CO. LLC. now owns 52,582 shares of the oil and gas company’s stock worth $8,014,000 after acquiring an additional 922 shares in the last quarter. Cinctive Capital Management LP boosted its holdings in shares of Chevron by 448.1% in the 4th quarter. Cinctive Capital Management LP now owns 239,885 shares of the oil and gas company’s stock valued at $36,561,000 after buying an additional 196,117 shares during the last quarter. Finally, Argyle Capital Partners LLC boosted its holdings in shares of Chevron by 6.3% in the 4th quarter. Argyle Capital Partners LLC now owns 7,523 shares of the oil and gas company’s stock valued at $1,147,000 after buying an additional 445 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron received a Buy rating from Jefferies, which supports the stock’s longer-term outlook and suggests analysts still see value in the shares. Article Title
• Positive Sentiment: Chevron secured a strategic entry into Greece’s Offshore Block 10, expanding its exploration footprint in the Eastern Mediterranean and adding a potential growth avenue. Article Title
• Neutral Sentiment: Chevron’s CEO reiterated that the investment case is not just about oil prices, pointing investors toward dividends, cash flow, and portfolio strength rather than only near-term crude moves. Article Title
• Neutral Sentiment: Several articles noted Chevron is in a wait-and-see zone after a strong run, with investors watching cash flow and dividend durability as the stock trades below its recent peak. Article Title
• Negative Sentiment: Chevron is being hit by a fall in crude prices tied to easing Middle East supply tensions, which can reduce upstream earnings expectations for an integrated oil major. Article Title
• Negative Sentiment: Market commentary also points to a broader rotation out of Big Oil and into consumer stocks as fuel costs decline, adding near-term pressure on Chevron shares. Article Title
• Negative Sentiment: Recent coverage on California refiners showed profit margins expanding sharply, which could keep attention on the refining segment but also highlights volatile industry economics rather than a clear tailwind for CVX. Article Title

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of the firm’s 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 completion of the sale, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction on 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 sale, the insider directly owned 8,638 shares of the company’s stock, valued at $1,842,485.40. This represents a 82.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 615,200 shares of company stock valued at $118,022,760 in the last ninety days. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. BNP Paribas Exane raised Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective for the company in a report on Friday, April 17th. Bank of America increased their price objective on Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a report on Monday, March 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 price objective on shares of Chevron in a report on Wednesday, May 6th. Mizuho increased their price objective on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Finally, Scotiabank increased their price objective on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. 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 MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus price target of $205.70.

Chevron Trading Down 1.5%

NYSE CVX opened at $177.44 on Thursday. The company has a market cap of $353.40 billion, a PE ratio of 30.75, a PEG ratio of 0.59 and a beta of 0.48. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12 month low of $142.40 and a 12 month high of $214.71. The stock has a 50 day moving average of $187.58 and a 200-day moving average of $178.90.

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

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 4.0%. Chevron’s dividend payout ratio (DPR) 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.