Hillsdale Investment Management Inc. Lowers Position in Chevron Corporation $CVX

Key Points

• Hillsdale Investment Management cut its Chevron stake by 77.4% in the first quarter, leaving it with 1,570 shares valued at about $325,000.
• Analysts remain mostly bullish on Chevron, with 19 Buy ratings and an average Moderate Buy rating. The consensus price target is $206.83, while several firms recently raised their targets or upgraded the stock.
• Chevron reported Q1 EPS of $1.41, beating estimates, and recently paid a quarterly dividend of $1.78 per share, equal to an annualized yield of 3.8%.

Hillsdale Investment Management Inc. trimmed its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 77.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,570 shares of the oil and gas company's stock after selling 5,390 shares during the quarter. Hillsdale Investment Management Inc.'s holdings in Chevron were worth $325,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Compton Financial Group LLC raised its holdings in Chevron by 1.9% in the first quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company's stock worth $609,000 after purchasing an additional 56 shares in the last quarter. Quantum Portfolio Management LLC grew its position in shares of Chevron by 2.7% in the 1st quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company's stock worth $435,000 after buying an additional 56 shares during the period. D.B. Root & Company LLC grew its position in shares of Chevron by 1.0% in the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company's stock worth $846,000 after buying an additional 57 shares during the period. Chatterton & Associates Inc. increased its stake in shares of Chevron by 1.7% in the 1st quarter. Chatterton & Associates Inc. now owns 3,427 shares of the oil and gas company's stock worth $652,000 after acquiring an additional 57 shares in the last quarter. Finally, First United Bank & Trust lifted its position in Chevron by 0.5% during the 1st quarter. First United Bank & Trust now owns 12,532 shares of the oil and gas company's stock valued at $2,593,000 after acquiring an additional 57 shares during the period. Institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CVX shares. The Goldman Sachs Group reissued a "buy" rating and set a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. Wolfe Research raised shares of Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 target price for the company in a research note on Thursday, July 2nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $220.00 target price on shares of Chevron in a report on Tuesday, May 5th. BNP Paribas Exane upgraded Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price target on the stock in a research note on Friday, April 17th. Finally, HSBC raised Chevron from a "hold" rating to a "buy" rating and set a $215.00 price objective for the company in a research report on Friday, March 20th. Nineteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $206.83.

Chevron Stock Up 1.9%

NYSE:CVX opened at $187.39 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The firm has a market cap of $373.21 billion, a P/E ratio of 32.48, a P/E/G ratio of 0.64 and a beta of 0.50. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71. The firm has a 50-day simple moving average of $181.54 and a two-hundred day simple moving average of $182.44.

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. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter in the prior year, the firm posted $2.18 earnings per share. The business's revenue was up 2.1% on a year-over-year basis. Analysts predict that Chevron Corporation will post 14.83 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Tuesday, May 19th. Chevron's payout ratio is presently 123.40%.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 380,000 shares of the company'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 directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.56% of the company's stock.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
• Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
• Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
• Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
• Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

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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