Chevron Corporation $CVX Shares Sold by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. reduced its stake in shares of Chevron Corporation (NYSE:CVX) by 60.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 17,924 shares of the oil and gas company’s stock after selling 26,861 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in Chevron were worth $2,732,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Core Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter worth $26,000. Strategic Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter worth $33,000. Daytona Street Capital LLC acquired a new stake in Chevron during the 4th quarter worth $44,000. Turning Point Benefit Group Inc. acquired a new stake in Chevron during the 3rd quarter worth $49,000. Finally, Maseco LLP acquired a new stake in Chevron during the 4th quarter worth $49,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other news, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the transaction, the insider directly owned 8,638 shares in the company, valued at $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction dated 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 transaction, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 615,200 shares of company stock worth $118,022,760. Company insiders own 0.56% of the company’s stock.

Chevron Trading Up 1.7%

NYSE CVX opened at $189.89 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The firm has a market cap of $378.19 billion, a PE ratio of 32.91, a P/E/G ratio of 0.62 and a beta of 0.48. Chevron Corporation has a one year low of $142.40 and a one year high of $214.71. The firm’s fifty day moving average is $189.38 and its two-hundred day moving average is $177.75.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same period in the previous year, the business posted $2.18 earnings per share. Chevron’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts expect that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Tuesday, May 19th. Chevron’s payout ratio is 123.40%.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as one of the top oil stocks to buy as energy investors look for resilient names, with articles emphasizing its defensive cash flows and income appeal. Article Title
• Positive Sentiment: Market commentary on Chevron’s Guyana assets pointed to a combined $7.6 billion profit for ExxonMobil and Chevron last year, reinforcing the value of its low-cost production base amid geopolitical tensions. Article Title
• Positive Sentiment: Chevron was also featured in a bullish technical forecast saying momentum is improving and buyers may be regaining control as the stock approaches a breakout level. Article Title
• Positive Sentiment: Reports that Chevron is advancing a major shale project in Argentina’s Vaca Muerta basin and moving closer to approval for a $13.8 billion investment could support future production growth. Article Title
• Neutral Sentiment: Chevron continues to attract attention as a dividend stock for retirement portfolios, which supports the investment case but does not represent a new catalyst. Article Title
• Negative Sentiment: Zacks Research downgraded Chevron from strong-buy to hold, which could temper enthusiasm despite the stock’s otherwise constructive news flow. Article Title

Wall Street Analyst Weigh In

Several brokerages recently commented on CVX. Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 price target on shares of Chevron in a research note on Tuesday, May 5th. Sanford C. Bernstein dropped their price objective on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a research note on Monday, May 11th. Mizuho lifted their price objective on shares of Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Barclays lifted their price objective on shares of Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. Finally, Tudor Pickering upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a research note on Thursday, April 9th. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.70.

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.