Hillsdale Investment Management Inc. Sells 15,740 Shares of Chevron Corporation $CVX

Hillsdale Investment Management Inc. trimmed its holdings in shares of Chevron Corporation (NYSE:CVX) by 69.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,960 shares of the oil and gas company’s stock after selling 15,740 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Chevron were worth $1,061,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CVX. Strategic Wealth Advisors LLC bought a new stake in Chevron during the 4th quarter worth approximately $33,000. Daytona Street Capital LLC bought a new stake in Chevron during the 4th quarter worth approximately $44,000. Maseco LLP bought a new stake in Chevron during the 4th quarter worth approximately $49,000. Turning Point Benefit Group Inc. bought a new stake in Chevron during the 3rd quarter worth approximately $49,000. Finally, High Point Wealth Management LLC bought a new stake in Chevron during the 4th quarter worth approximately $53,000. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on CVX shares. Piper Sandler increased their target price on Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. BMO Capital Markets reissued an “outperform” rating and set a $190.00 target price on shares of Chevron in a research note on Monday, February 2nd. Mizuho increased their target price on Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. UBS Group increased their target price on Chevron from $218.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, TD Cowen upped their price target on Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.70.

Chevron Trading Up 1.7%

NYSE:CVX opened at $185.58 on Tuesday. Chevron Corporation has a twelve month low of $136.43 and a twelve month high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $191.96 and a two-hundred day moving average price of $176.04. The company has a market cap of $369.60 billion, a P/E ratio of 32.16, a price-to-earnings-growth ratio of 0.60 and a beta of 0.48.

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

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s dividend payout ratio is presently 123.40%.

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the 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 approximately $1,842,485.40. The trade was a 82.31% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 662,400 shares of company stock valued at $127,090,824. 0.56% of the stock is currently owned by insiders.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Escalating Middle East tensions are lifting oil prices and raising the risk of supply disruptions, which could improve Chevron’s realized pricing and earnings. Exxon and Chevron Are Warning That Oil Prices Could Skyrocket in the Coming Weeks. Here’s What That Could Mean for Investors.
• Positive Sentiment: Analysts are highlighting Chevron as a beneficiary of the Iran crisis, and one note recently raised the stock’s price target to $230, reflecting confidence in the company’s exposure to stronger crude markets. Here’s Why Chevron (CVX) is Among the 8 Best Natural Resources Stocks to Buy Now
• Neutral Sentiment: Recent commentary also points to Chevron’s underlying production growth as a long-term support factor, even though the latest quarter showed lower year-over-year earnings due to hedge timing effects. Chevron’s Earnings Dropped Year Over Year, but Production Surged. Here’s What Investors Need to Know.
• Neutral Sentiment: Chevron’s offshore expansion in Guyana and Greece underscores its growth strategy, but the market appears to be focusing more on near-term oil price and geopolitical catalysts today. Chevron Deepens Offshore Bets In Guyana And Greece As Risk Profile Shifts

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.