Cibc World Market Inc. Buys 423,746 Shares of Chevron Corporation $CVX

Key Points

• CIBC World Market Inc. increased its Chevron stake by 63.8% in the fourth quarter, adding 423,746 shares and bringing its total holdings to 1,087,677 shares worth about $165.8 million.
• Chevron reported better-than-expected quarterly earnings of $1.41 per share, beating estimates, though revenue came in below forecasts at $47.56 billion. Analysts still expect the company to generate strong full-year EPS of 15.74.
• The company announced a quarterly dividend of $1.78 per share, equal to a 3.7% annualized yield, while analysts maintain a generally positive view with a consensus rating of Moderate Buy and a target price of $205.70.

Cibc World Market Inc. lifted its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 63.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,087,677 shares of the oil and gas company's stock after acquiring an additional 423,746 shares during the period. Cibc World Market Inc. owned approximately 0.05% of Chevron worth $165,773,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Core Wealth Advisors LLC purchased a new position in Chevron in the 4th quarter worth $26,000. Strategic Wealth Advisors LLC purchased a new position in shares of Chevron during the fourth quarter valued at about $33,000. Daytona Street Capital LLC purchased a new position in shares of Chevron during the fourth quarter valued at about $44,000. Maseco LLP bought a new stake in Chevron during the fourth quarter worth about $49,000. Finally, Turning Point Benefit Group Inc. bought a new stake in Chevron during the third quarter worth about $49,000. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 1.3%

Shares of NYSE CVX opened at $190.00 on Thursday. The firm's 50 day moving average price is $191.38 and its 200-day moving average price is $176.53. The company has a market cap of $378.41 billion, a PE ratio of 32.93, a P/E/G ratio of 0.62 and a beta of 0.48. Chevron Corporation has a 52-week low of $136.70 and a 52-week high of $214.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09.

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, topping the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion for 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 business's revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.18 earnings per share. On average, equities research analysts expect that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be paid a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, May 19th. Chevron's dividend payout ratio is currently 123.40%.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s Argentina growth plans are drawing attention after the company applied for the country’s tax incentive program tied to a proposed $13.8 billion Vaca Muerta oil project. The move signals a major long-term investment in one of the world’s largest shale plays and could expand Chevron’s production base if approved. Reuters article
• Positive Sentiment: Wall Street commentary has turned more constructive on Chevron (CVX), with reports noting bullish analyst views and a higher price target from Barclays. That kind of sentiment often helps investors view the stock as undervalued relative to its cash generation and dividend profile. Yahoo Finance article
• Positive Sentiment: Chevron was also highlighted in a piece on high-yield dividend stocks, reinforcing its appeal to income-focused investors. With its steady payout and integrated business model, CVX continues to be seen as a defensive energy name. Blockonomi article
• Positive Sentiment: A broader feature on energy stocks tied to the AI power boom argued that Chevron could benefit from rising electricity demand through long-term gas supply relationships and its large-scale energy infrastructure. That supports the view that CVX has exposure beyond just oil prices. MarketBeat feature
• Neutral Sentiment: Recent governance and leadership updates, including the planned legal chief transition and shareholder votes on proposals, appear to confirm continuity rather than create a major new catalyst for the stock. Yahoo Finance article

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of the business's 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. The trade was a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Hewitt Pate sold 47,200 shares of the business's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $192.12, for a total transaction of $9,068,064.00. Following the transaction, the insider directly owned 8,558 shares of the company's stock, valued at $1,644,162.96. The trade was a 84.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 662,400 shares of company stock worth $127,090,824. Insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CVX. Royal Bank Of Canada reissued an "outperform" rating and set a $220.00 price objective on shares of Chevron in a research note on Tuesday, May 5th. Scotiabank boosted their price objective on shares of Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. Melius Research raised shares of Chevron from a "hold" rating to a "buy" rating and set a $205.00 price objective on the stock in a research note on Tuesday, February 17th. BNP Paribas Exane raised shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price objective on the stock in a research note on Friday, April 17th. Finally, HSBC raised 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. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Chevron presently has an average rating of "Moderate Buy" and a consensus target price of $205.70.

About Chevron

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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