Chevron Corporation $CVX Shares Bought by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management dramatically increased its Chevron stake in the first quarter, raising holdings by 6,368.2% to 136,479 shares worth about $28.2 million.
• Chevron continues to attract income investors thanks to its 4.3% dividend yield and long history of dividend increases, even as its share price faces pressure from weaker crude prices and lower analyst targets.
• The company also signed a 20-year deal with Microsoft to supply electricity for an AI data center in Texas, highlighting a new growth opportunity tied to AI infrastructure.

iA Global Asset Management Inc. raised its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 6,368.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 136,479 shares of the oil and gas company's stock after purchasing an additional 134,369 shares during the quarter. iA Global Asset Management Inc.'s holdings in Chevron were worth $28,238,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dakota Wealth Management increased its holdings in shares of Chevron by 14.9% during the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock valued at $12,690,000 after purchasing an additional 10,822 shares in the last quarter. Brooklyn FI LLC purchased a new stake in Chevron during the third quarter worth $431,000. Clear Trail Advisors LLC purchased a new stake in Chevron during the fourth quarter worth $10,167,000. Curtis Advisory Group LLC acquired a new stake in Chevron during the fourth quarter valued at $1,381,000. Finally, Indivisible Partners acquired a new stake in Chevron during the fourth quarter valued at $1,923,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron signed a 20-year agreement with Microsoft to supply electricity for a large AI-focused data center in Texas, expanding Chevron’s role in powering data infrastructure and potentially opening the door to more similar projects. Chevron (CVX) Just Signed A 20 Year Microsoft AI Data Center Power Deal
• Positive Sentiment: Several articles highlighted Chevron’s 4%+ dividend yield and long track record of dividend increases, reinforcing the stock’s appeal for income-focused investors. Chevron Yields 4.2% Because Oil Prices Make Everyone Nervous. Here’s Why That Thinking Is Outdated
• Neutral Sentiment: Erste Group slightly raised its 2026 earnings estimate for Chevron, suggesting stable profitability expectations, though the change was modest. Chevron analyst estimate update
• Negative Sentiment: Chevron shares are being weighed down by softer crude prices and broader sector concerns, including reports that energy stocks may lag technology in the second half as oil retreats. What’s Ahead for Tech and Other Sectors In The Year’s Second Half
• Negative Sentiment: Morgan Stanley reportedly lowered its price target on Chevron, adding to pressure on the stock amid worries about weaker oil fundamentals. Chevron (CVX) Price Target Lowered at Morgan Stanley. Here is Why

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of the firm's 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 transaction, the director owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.56% of the stock is owned by insiders.

Chevron Stock Down 0.0%

CVX stock opened at $165.70 on Thursday. The stock has a market capitalization of $330.01 billion, a P/E ratio of 28.72, a P/E/G ratio of 0.55 and a beta of 0.50. The firm has a 50-day simple moving average of $183.99 and a 200-day simple moving average of $180.34. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 52 week low of $145.47 and a 52 week high of $214.71.

Chevron (NYSE:CVX - Get Free Report) 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 the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.18 EPS. Equities analysts forecast that Chevron Corporation will post 15.52 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.3%. Chevron's dividend payout ratio is presently 123.40%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of Chevron from $204.00 to $222.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. UBS Group restated a "buy" rating on shares of Chevron in a research report on Tuesday, June 23rd. The Goldman Sachs Group restated a "buy" rating and issued a $216.00 price target on shares of Chevron in a research note on Wednesday, May 6th. Barclays upped their price target on Chevron from $192.00 to $213.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 26th. Finally, TD Cowen increased 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. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $205.52.

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.

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