Cidel Asset Management Inc. Has $6.89 Million Stock Holdings in Chevron Corporation $CVX

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

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dakota Wealth Management raised its position in Chevron by 14.9% during 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 buying an additional 10,822 shares during the period. Brooklyn FI LLC acquired a new stake in Chevron during the 3rd quarter worth about $431,000. Clear Trail Advisors LLC acquired a new stake in Chevron during the 4th quarter worth about $10,167,000. Finemark National Bank & Trust grew its stake in Chevron by 40.3% during the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock valued at $8,779,000 after acquiring an additional 16,243 shares in the last quarter. Finally, Curtis Advisory Group LLC purchased a new position in Chevron during the 4th quarter valued at about $1,381,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 2.4%

CVX opened at $171.73 on Thursday. Chevron Corporation has a fifty-two week low of $142.40 and a fifty-two week high of $214.71. The business has a 50-day moving average of $185.68 and a 200-day moving average of $179.68. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The company has a market capitalization of $342.02 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 0.58 and a beta of 0.48.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.18 EPS. Equities research analysts forecast that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Announces Dividend

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

Analyst Upgrades and Downgrades

CVX has been the topic of a number of research reports. Piper Sandler upped their target price on Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Scotiabank raised their price target on shares of Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. TD Cowen boosted their price objective on shares of Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research report on Friday, May 8th. HSBC upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a research note on Friday, March 20th. Finally, Mizuho increased their target price on shares of Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.70.

Insider Buying and Selling

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 8,638 shares of the company’s stock, valued at $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 380,000 shares of the 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 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold 615,200 shares of company stock valued at $118,022,760 over the last quarter. Corporate insiders own 0.56% of the company’s stock.

Chevron News Summary

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 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.