Financiere des Professionnels Fonds d investissement inc. Acquires 53,302 Shares of Chevron Corporation $CVX

Financiere des Professionnels Fonds d investissement inc. increased its holdings in Chevron Corporation (NYSE:CVX) by 297.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,226 shares of the oil and gas company’s stock after acquiring an additional 53,302 shares during the period. Chevron comprises 0.9% of Financiere des Professionnels Fonds d investissement inc.’s investment portfolio, making the stock its 23rd biggest holding. Financiere des Professionnels Fonds d investissement inc.’s holdings in Chevron were worth $14,737,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Midwest Capital Advisors LLC bought a new stake in Chevron during the 1st quarter worth approximately $25,000. Phillip James Consulting Co. bought a new position in shares of Chevron in the fourth quarter valued at approximately $26,000. Core Wealth Advisors LLC purchased a new position in shares of Chevron during the fourth quarter valued at approximately $26,000. Karpus Management Inc. purchased a new position in shares of Chevron during the fourth quarter valued at approximately $27,000. Finally, Basso Capital Management L.P. bought a new stake in Chevron during the fourth quarter worth $27,000. Institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling 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 shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is owned by corporate insiders.

Chevron Trading Up 1.1%

NYSE CVX opened at $183.69 on Friday. The business’s fifty day moving average is $181.42 and its 200-day moving average is $182.41. 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 stock has a market capitalization of $365.83 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 0.64 and a beta of 0.50. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the prior year, the business earned $2.18 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts predict that Chevron Corporation will post 14.75 EPS for the current year.

Chevron Announces Dividend

The business 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. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Tuesday, May 19th. Chevron’s payout ratio is presently 123.40%.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign memorandums of understanding with Iraq to advance investment in the West Qurna 2 and Nassiriya oilfields, potentially expanding its long-term production base. Reuters article
• Positive Sentiment: The company is also exploring a pipeline alternative to the Strait of Hormuz, which could reduce export risk and support more reliable Iraqi oil shipments if geopolitical risk stays elevated. WSJ article
• Positive Sentiment: Chevron’s stock has also been helped by broader energy-sector strength, with energy shares rising even as the wider market softened. Yahoo Finance article
• Neutral Sentiment: Analysts and commentary suggest Chevron may be fairly valued after a strong five-year run, which supports the stock but also limits the upside from valuation alone. Yahoo Finance article
• Neutral Sentiment: Recent broker notes have been mixed, including hold ratings and modest price-target cuts, indicating Wall Street is constructive but not aggressively bullish. Yahoo Finance article

Wall Street Analyst Weigh In

CVX has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Zacks Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research report on Friday, March 20th. UBS Group reaffirmed a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Finally, Citigroup increased their price objective on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Nineteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $206.83.

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.