Sumitomo Mitsui DS Asset Management Company Ltd Trims Stock Holdings in Chevron Corporation $CVX

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its holdings in Chevron Corporation (NYSE:CVX) by 3.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 630,927 shares of the oil and gas company’s stock after selling 20,693 shares during the quarter. Chevron accounts for approximately 0.8% of Sumitomo Mitsui DS Asset Management Company Ltd’s investment portfolio, making the stock its 28th biggest holding. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Chevron were worth $96,160,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Decker Retirement Planning Inc. bought a new position in Chevron in the 3rd quarter valued at $34,000. Marquette Asset Management LLC bought a new position in Chevron in the 3rd quarter valued at $41,000. Barnes Dennig Private Wealth Management LLC boosted its holdings in Chevron by 306.1% in the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 202 shares during the period. Daytona Street Capital LLC bought a new position in Chevron in the 4th quarter valued at $44,000. Finally, Turning Point Benefit Group Inc. bought a new position in Chevron in the 3rd quarter valued at $49,000. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

NYSE CVX opened at $192.65 on Wednesday. Chevron Corporation has a 52-week low of $133.77 and a 52-week high of $214.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15. The company has a market capitalization of $383.81 billion, a P/E ratio of 33.39, a P/E/G ratio of 0.71 and a beta of 0.51. The company has a fifty day moving average of $193.26 and a 200-day moving average of $171.64.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 7.01%. The company had revenue of $48.61 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the previous year, the firm posted $2.18 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Chevron Corporation will post 14.16 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be paid a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.7%. Chevron’s payout ratio is currently 123.40%.

Analyst Ratings Changes

Several research analysts have commented on the stock. TD Cowen cut their price target on shares of Chevron from $214.00 to $204.00 and set a “hold” rating for the company in a report on Monday, April 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a report on Wednesday, January 21st. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. BNP Paribas Exane raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target for the company in a report on Friday, April 17th. Finally, Scotiabank raised their price target on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $202.09.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: CEO warning and higher oil prices: CEO Mike Wirth said physical shortages could emerge if the Strait of Hormuz remains disrupted, a comment that supports oil-price upside and benefits integrated producers like Chevron. Chevron CEO says physical shortages in oil supply to begin appearing
• Positive Sentiment: Oil-driven rally and capital returns: Coverage notes that CVX is rallying as crude moves higher and Chevron’s shareholder-friendly capital returns (buybacks/dividends) remain a tailwind for valuation and investor sentiment. Chevron Corporation (CVX) Rallies as Oil Prices Surge and Capital Returns Impress
• Positive Sentiment: Analyst support: Royal Bank of Canada reaffirmed an “outperform” rating and set a $220 price target, signaling broker confidence and potential upside vs. current levels. Benzinga
• Neutral Sentiment: Exploration expansion: Chevron said it will search for oil and gas south of Malta, extending Mediterranean activity — a strategic growth move whose near-term impact on production and cash flow is uncertain. Chevron expands Mediterranean activities with exploration offshore Malta
• Neutral Sentiment: Iraq asset negotiations: Reports that Chevron is in talks for stakes in major Iraqi fields represent meaningful long-term optionality but remain speculative until deals are announced. Chevron Iraqi Oilfield Talks And What They Could Mean For CVX Valuation
• Neutral Sentiment: Ceasefire reports temper tail-risk: U.S. statements that a ceasefire/pauses in hostilities are holding reduce the immediate tail risk of a full-blown Gulf conflict, which could cap further oil-price spikes and limit upside for CVX. US Says Iran Ceasefire in Place After Clashes Over Hormuz
• Negative Sentiment: Reputational and political risk: Consumer Watchdog alleges a “phony” Chevron-funded group is funding ads blaming California policy for high pump prices — a PR/political headwind that could attract regulatory or public-relations costs. Phony Chevron-Funded Group Blames CA When Chevron’s Price Gouging Is Pegged For Run Up At Pump According To New State Gas Pricing Report, Says Consumer Watchdog
• Negative Sentiment: Price volatility after geopolitical headlines: While tensions initially pushed oil sharply higher, follow-on reports of the truce and easing shipping disruptions have pulled prices back at times — introducing near-term volatility that can pressure CVX shares. Oil Declines as Fragile Truce Holds Following Hormuz Clashes

Insiders Place Their Bets

In other Chevron news, Vice Chairman Mark A. Nelson sold 139,600 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the completion of the sale, the insider directly owned 11,337 shares of the company’s stock, valued at $2,130,449.04. The trade was a 92.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alana K. Knowles sold 2,408 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $183.28, for a total transaction of $441,338.24. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 621,439 shares of company stock valued at $118,307,800 over the last three months. 0.56% of the stock is currently owned by company insiders.

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.