Mackenzie Financial Corp Grows Position in Chevron Corporation $CVX

Key Points

• Mackenzie Financial increased its stake in Chevron by 29.6% in Q3, ending the quarter with 707,176 shares worth about $109.8 million.
• Significant insider selling: CEO Michael K. Wirth sold 320,700 shares and Vice Chairman Mark A. Nelson sold 139,600 shares, with insiders disposing of ~1,099,397 shares (~$196.2 million) over the last three months, leaving insiders owning just 0.21% of the stock.
• Dividend hike: Chevron raised its quarterly dividend to $1.78 (annualized $7.12), implying a yield of ~3.7% and a payout ratio of 106.91%.

Mackenzie Financial Corp increased its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 29.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 707,176 shares of the oil and gas company's stock after acquiring an additional 161,450 shares during the quarter. Mackenzie Financial Corp's holdings in Chevron were worth $109,817,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CVX. Vishria Bird Financial Group LLC boosted its holdings in shares of Chevron by 1.2% during the 3rd quarter. Vishria Bird Financial Group LLC now owns 5,285 shares of the oil and gas company's stock valued at $821,000 after purchasing an additional 65 shares during the last quarter. Nexus Investment Management ULC increased its holdings in shares of Chevron by 0.9% in the third quarter. Nexus Investment Management ULC now owns 7,641 shares of the oil and gas company's stock worth $1,187,000 after purchasing an additional 65 shares during the last quarter. Scott & Selber Inc. lifted its position in shares of Chevron by 0.5% in the third quarter. Scott & Selber Inc. now owns 13,391 shares of the oil and gas company's stock worth $2,079,000 after buying an additional 65 shares in the last quarter. White Knight Strategic Wealth Advisors LLC lifted its position in shares of Chevron by 3.0% in the second quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company's stock worth $319,000 after buying an additional 65 shares in the last quarter. Finally, William B. Walkup & Associates Inc. boosted its stake in Chevron by 1.0% during the third quarter. William B. Walkup & Associates Inc. now owns 6,356 shares of the oil and gas company's stock valued at $987,000 after buying an additional 66 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

NYSE:CVX opened at $191.73 on Thursday. The firm has a market capitalization of $382.57 billion, a price-to-earnings ratio of 28.79, a PEG ratio of 1.87 and a beta of 0.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. The business has a 50 day simple moving average of $175.61 and a 200-day simple moving average of $161.50. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $192.41.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.08. The firm had revenue of $45.79 billion during the quarter, compared to analysts' expectations of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The company's quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.06 EPS. Equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were paid a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This is a positive change from Chevron's previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a yield of 3.7%. Chevron's payout ratio is presently 106.91%.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Oil prices climbed on escalating Strait of Hormuz risk and market concern over Middle East supply, which lifts revenue prospects for integrated producers like Chevron. The IEA to Release Record Amount of Oil From Reserves. Why Crude Prices Are Higher.
• Positive Sentiment: Chevron is reported to be closing in on major Venezuelan production deals alongside Shell — potential long‑term volume upside if agreements are finalized. Chevron & Shell Eye Major Oil Deals to Revive Venezuela Output
• Positive Sentiment: Chevron was a top bidder in a U.S. Gulf of Mexico lease sale, signaling continued capital deployment into upstream capacity that could boost future production. BP, Chevron are top spenders at small US Gulf of Mexico oil and gas auction
• Positive Sentiment: Dividend and payout: Chevron paid a $1.78 quarterly dividend (a 4% increase), supporting demand from income‑oriented investors. Chevron Pays $1.78 Dividend Today Backed by 39 Years of Unbroken Growth
• Neutral Sentiment: Macro and company rumors: reports of possible downstream or bolt‑on interest (e.g., Brazil/Ipiranga) and analyst chatter keep M&A speculation alive but nothing definitive yet. Ultrapar Clarifies Media Report on Possible Chevron Deal for Ipiranga Stake
• Neutral Sentiment: Market volatility is the dominant driver — rapid swings tied to geopolitical headlines and mixed government statements are amplifying day‑to‑day moves for CVX. Here's Why Oil Prices Are Surging Right Now
• Negative Sentiment: U.S. political discussion of tapping the Strategic Petroleum Reserve to lower consumer energy costs (Trump comments) could cap oil prices and pressure integrated producers’ near‑term margins. Iran war: Trump says he'll tap Strategic Petroleum Reserve to cut energy costs
• Negative Sentiment: Insider selling: a recent SEC filing shows a senior Chevron insider sold shares (~47,200 at ~$192) — some investors view such sales as a cue to reduce exposure. SEC Form 4 — Insider Sale
• Negative Sentiment: De‑escalation headlines (expectations of a quick end to the Iran conflict) have previously triggered sharp crude pullbacks that pressured CVX after recent gains — reinforces downside risk on positive news fades. ExxonMobil and Chevron tumble as Trump predicts swift end to Iran conflict

Insider Activity

In related news, CEO Michael K. Wirth sold 320,700 shares of the company's stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the transaction, the chief executive officer directly owned 14,450 shares in the company, valued at approximately $2,355,205.50. This represents a 95.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the sale, the insider directly owned 11,337 shares in the company, valued at $2,130,449.04. This trade represents a 92.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,099,397 shares of company stock worth $196,196,468. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Mizuho lifted their price objective on Chevron from $204.00 to $206.00 and gave the stock an "outperform" rating in a research note on Friday, December 12th. Wells Fargo & Company raised their target price on shares of Chevron from $196.00 to $204.00 and gave the company an "overweight" rating in a report on Monday, February 2nd. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and set a $180.00 price target on the stock. in a research report on Monday, February 2nd. Melius Research upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $205.00 price objective for the company in a research report on Tuesday, February 17th. Finally, Sanford C. Bernstein lifted their price objective on shares of Chevron from $170.00 to $172.00 and gave the stock a "market perform" rating in a research note on Monday, January 5th. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $178.95.

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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