Intact Investment Management Inc. Boosts Holdings in Chevron Corporation $CVX

Key Points

• Intact Investment Management raised its Chevron stake by 16.7% in Q4, buying 13,900 shares to hold 97,062 shares valued at about $14.79 million.
• Company insiders were net sellers this quarter, disposing of 649,639 shares worth $123.3 million (insiders now own 0.56%), including large individual sales by Andrew Walz and CTO Thomas Ryder Booth.
• Chevron beat on adjusted Q1 EPS ($1.41 vs. $1.00 consensus) but missed on revenue, announced a $1.78 quarterly dividend (annualized $7.12, ~3.7% yield), and holds a consensus analyst rating of "Moderate Buy" with a $198.09 target.

Intact Investment Management Inc. raised its position in Chevron Corporation (NYSE:CVX - Free Report) by 16.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 97,062 shares of the oil and gas company's stock after buying an additional 13,900 shares during the quarter. Intact Investment Management Inc.'s holdings in Chevron were worth $14,793,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted 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 worth $28,540,753,000 after acquiring an additional 27,961,463 shares during the period. State Street Corp lifted 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 worth $23,698,184,000 after acquiring an additional 12,789,399 shares during the period. Northern Trust Corp lifted 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 worth $3,528,890,000 after acquiring an additional 3,007,403 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Chevron by 1.6% in the 3rd 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 acquiring an additional 325,255 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Chevron by 27.9% in the 3rd 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 acquiring an additional 4,279,918 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Andrew Benjamin Walz sold 22,200 shares of the firm's stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $176.53, for a total value of $3,918,966.00. Following the completion of the transaction, the insider owned 666 shares in the company, valued at $117,568.98. This trade represents a 97.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Thomas Ryder Booth sold 11,076 shares of the firm's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $184.40, for a total value of $2,042,414.40. Following the completion of the transaction, the chief technology officer owned 1,122 shares of the company's stock, valued at approximately $206,896.80. This represents a 90.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 649,639 shares of company stock valued at $123,297,346. Company insiders own 0.56% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CVX shares. Tudor Pickering upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $225.00 target price for the company in a research note on Thursday, April 9th. Citigroup upped their price objective on Chevron from $210.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. TD Cowen cut their price objective on Chevron from $214.00 to $204.00 and set a "hold" rating for the company in a research report on Monday, April 13th. JPMorgan Chase & Co. raised Chevron from a "neutral" rating to an "overweight" rating and set a $176.00 target price for the company in a report on Tuesday, January 20th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Chevron in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $198.09.

Trending Headlines about Chevron

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

Chevron Price Performance

Chevron stock opened at $190.79 on Monday. Chevron Corporation has a one year low of $133.77 and a one year high of $214.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15. The business has a fifty day moving average of $193.08 and a two-hundred day moving average of $171.36. The company has a market cap of $380.12 billion, a P/E ratio of 33.07, a price-to-earnings-growth ratio of 0.71 and a beta of 0.51.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.41. The firm had revenue of $48.61 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 7.01% and a net margin of 5.79%.Chevron's quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $2.18 EPS. As a group, analysts predict that Chevron Corporation will post 14.13 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

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.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.