Chevron Corporation $CVX Stock Holdings Lessened by Kornitzer Capital Management Inc. KS

Key Points

• Kornitzer Capital Management Inc. KS trimmed its stake in Chevron by 2.4% in Q4, selling 23,949 shares and now holds 979,063 shares worth about $149.2 million, making Chevron roughly 3.1% of the fund's assets and its second-largest position.
• Chevron's Q1 showed adjusted EPS of $1.41, beating the $0.97 consensus, but reported net income fell ~36% due to derivative timing losses and hedges while revenue missed estimates, and management flagged a worsening net‑debt‑to‑cash‑flow metric amid Middle East risks.
• The company declared a quarterly dividend of $1.78 (3.7% yield)

Kornitzer Capital Management Inc. KS decreased its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 979,063 shares of the oil and gas company's stock after selling 23,949 shares during the period. Chevron comprises about 3.1% of Kornitzer Capital Management Inc. KS's holdings, making the stock its 2nd largest position. Kornitzer Capital Management Inc. KS's holdings in Chevron were worth $149,219,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Chevron by 17.9% during the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company's stock valued at $28,540,753,000 after buying an additional 27,961,463 shares during the last quarter. State Street Corp boosted its position in shares of Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock valued at $23,698,184,000 after buying an additional 12,789,399 shares during the last quarter. Northern Trust Corp boosted its position in Chevron by 15.3% in the third quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company's stock worth $3,528,890,000 after purchasing an additional 3,007,403 shares during the last quarter. Fisher Asset Management LLC boosted its position in Chevron by 1.6% in the third quarter. Fisher Asset Management LLC now owns 21,152,060 shares of the oil and gas company's stock worth $3,284,704,000 after purchasing an additional 325,255 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Chevron by 27.9% in the third quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company's stock worth $3,047,900,000 after purchasing an additional 4,279,918 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Adjusted Q1 results topped Street estimates — Chevron reported adjusted EPS of $1.41, outpacing consensus, helped by higher oil & gas realizations and upstream production gains (Hess integration lifted output). Chevron's upstream strength lifts first-quarter earnings past estimate
• Neutral Sentiment: Elevated crude prices from Middle East tensions remain a potential tailwind for future quarters, but the path is volatile and timing of higher realized profits depends on hedging and production recovery. Big Oil earnings and oil price context
• Neutral Sentiment: Wall Street positioning: analysts have been updating forecasts ahead of and after the print (some raise long‑term EPS outlooks), which could limit downside if guidance/forward cues are constructive. Analyst forecast changes ahead of Q1
• Negative Sentiment: Headline profits plunged (net income fell ~36%) primarily because of derivative timing losses and hedges that moved against Chevron, dragging reported earnings even though operational results improved. Profit hits five-year low due to hedging & timing
• Negative Sentiment: Balance‑sheet / cash‑flow signal: management flagged Middle East risks and the company’s net‑debt-to‑cash‑flow metric worsened, increasing investor concern about near‑term financial flexibility. Net debt to cash flow worsens; CEO flags risks
• Negative Sentiment: Short‑term market pressure from softening oil: crude weakened intraday (~3% drop), which pulled energy names lower and amplified selling after the mixed print. Crude oil down 3% and mixed Q1 coverage

Wall Street Analyst Weigh In

CVX has been the topic of several research analyst reports. Scotiabank boosted their price objective on Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Sanford C. Bernstein boosted their price objective on Chevron from $170.00 to $172.00 and gave the stock a "market perform" rating in a research report on Monday, January 5th. Jefferies Financial Group boosted their price objective on Chevron from $174.00 to $189.00 and gave the stock a "buy" rating in a research report on Wednesday, January 14th. JPMorgan Chase & Co. raised Chevron from a "neutral" rating to an "overweight" rating and set a $176.00 price objective on the stock in a research report on Tuesday, January 20th. Finally, UBS Group reissued a "buy" rating and issued a $212.00 price objective on shares of Chevron in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $198.09.

Chevron Stock Performance

Shares of CVX opened at $190.79 on Friday. The firm has a market cap of $380.12 billion, a PE ratio of 28.65, a PEG ratio of 0.72 and a beta of 0.51. The stock's fifty day moving average price is $193.08 and its two-hundred day moving average price is $171.09. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. Chevron Corporation has a 1 year low of $133.77 and a 1 year high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.44. The firm had revenue of $48.61 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The business's revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.18 earnings per share. On average, equities research analysts forecast that Chevron Corporation will post 14.13 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be paid a $1.78 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. Chevron's payout ratio is presently 106.91%.

Insider Transactions at Chevron

In related news, insider Alana K. Knowles sold 2,408 shares of the business's stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $183.28, for a total transaction of $441,338.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael K. Wirth sold 272,624 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the sale, the chief executive officer directly owned 31,266 shares in the company, valued at $5,920,217.10. This trade represents a 89.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 695,439 shares of company stock valued at $131,274,332. 0.56% of the stock is currently owned by insiders.

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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