Hillsdale Investment Management Inc. Sells 15,740 Shares of Chevron Corporation $CVX

Key Points

• Hillsdale Investment Management cut its Chevron stake by 69.3% in the fourth quarter, selling 15,740 shares and leaving it with 6,960 shares worth about $1.06 million.
• Chevron continues to attract heavy institutional ownership, with firms like Vanguard, State Street, and Geode adding to positions; overall, institutions hold 72.42% of the company’s stock.
• Analysts remain generally constructive on Chevron, with a consensus Moderate Buy rating and an average price target of $205.70, while the company also reported better-than-expected EPS and announced a quarterly dividend of $1.78 per share.

Hillsdale Investment Management Inc. lessened its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 69.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,960 shares of the oil and gas company's stock after selling 15,740 shares during the quarter. Hillsdale Investment Management Inc.'s holdings in Chevron were worth $1,061,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Chevron by 17.9% in the 3rd 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 purchasing an additional 27,961,463 shares in the last quarter. State Street Corp boosted its stake in shares of Chevron by 9.1% in the 3rd 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 purchasing an additional 12,789,399 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Chevron by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company's stock valued at $6,620,187,000 after purchasing an additional 134,890 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Chevron by 15.3% in the 3rd quarter. Northern Trust Corp now owns 22,724,515 shares of the oil and gas company's stock valued at $3,528,890,000 after purchasing an additional 3,007,403 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Chevron by 1.5% in the 4th quarter. Fisher Asset Management LLC now owns 21,471,919 shares of the oil and gas company's stock valued at $3,272,535,000 after purchasing an additional 319,859 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Analyst Ratings Changes

CVX has been the topic of several recent analyst reports. Royal Bank Of Canada restated an "outperform" rating and issued a $220.00 target price on shares of Chevron in a research note on Tuesday, May 5th. Sanford C. Bernstein reduced their target price on shares of Chevron from $216.00 to $204.00 and set a "market perform" rating on the stock in a research note on Monday, May 11th. Citigroup boosted their target price 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. TD Cowen upped their price target on shares of Chevron from $204.00 to $205.00 and gave the stock a "hold" rating in a research report on Friday, May 8th. Finally, UBS Group upped their price target on shares of Chevron from $218.00 to $220.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Chevron currently has a consensus rating of "Moderate Buy" and an average price target of $205.70.

Insider Activity

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the business's stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the sale, the insider directly owned 8,638 shares of the company's stock, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John B. Hess sold 380,000 shares of the business's stock in a transaction dated 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 sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 662,400 shares of company stock valued at $127,090,824 over the last three months. Company insiders own 0.56% of the company's stock.

Chevron Stock Up 1.7%

Shares of NYSE CVX opened at $185.58 on Tuesday. The firm's 50-day simple moving average is $191.96 and its 200 day simple moving average is $176.04. The company has a market cap of $369.60 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 0.60 and a beta of 0.48. 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 12-month low of $136.43 and a 12-month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.18 EPS. On average, research analysts expect that Chevron Corporation will post 15.74 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron's payout ratio is currently 123.40%.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Escalating Middle East tensions are lifting oil prices and raising the risk of supply disruptions, which could improve Chevron’s realized pricing and earnings. Exxon and Chevron Are Warning That Oil Prices Could Skyrocket in the Coming Weeks. Here's What That Could Mean for Investors.
• Positive Sentiment: Analysts are highlighting Chevron as a beneficiary of the Iran crisis, and one note recently raised the stock’s price target to $230, reflecting confidence in the company’s exposure to stronger crude markets. Here’s Why Chevron (CVX) is Among the 8 Best Natural Resources Stocks to Buy Now
• Neutral Sentiment: Recent commentary also points to Chevron’s underlying production growth as a long-term support factor, even though the latest quarter showed lower year-over-year earnings due to hedge timing effects. Chevron's Earnings Dropped Year Over Year, but Production Surged. Here's What Investors Need to Know.
• Neutral Sentiment: Chevron’s offshore expansion in Guyana and Greece underscores its growth strategy, but the market appears to be focusing more on near-term oil price and geopolitical catalysts today. Chevron Deepens Offshore Bets In Guyana And Greece As Risk Profile Shifts

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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