Natixis Advisors LLC Increases Stock Position in Chevron Corporation $CVX

Key Points

• Natixis Advisors LLC slightly increased its Chevron stake in the fourth quarter, buying 8,472 additional shares to bring its total holdings to 1,454,176 shares valued at about $221.6 million.
• Chevron’s stock was up 1.7% and remains supported by bullish news around higher oil prices, with geopolitical tensions in the Middle East seen as a potential tailwind for earnings and pricing.
• Wall Street remains constructive on Chevron, with several analysts raising price targets and the stock carrying an average “Moderate Buy” rating and consensus target of $205.70, even as insiders have recently sold shares.

Natixis Advisors LLC lifted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 0.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,454,176 shares of the oil and gas company's stock after purchasing an additional 8,472 shares during the period. Natixis Advisors LLC owned about 0.07% of Chevron worth $221,630,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. D.B. Root & Company LLC grew its holdings in Chevron by 1.0% during the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company's stock valued at $846,000 after buying an additional 57 shares in the last quarter. Cornerstone Planning Group LLC grew its holdings in Chevron by 6.8% during the 4th quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company's stock valued at $142,000 after buying an additional 59 shares in the last quarter. MMA Asset Management LLC grew its holdings in Chevron by 3.4% during the 4th quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company's stock valued at $277,000 after buying an additional 59 shares in the last quarter. EWA LLC grew its holdings in Chevron by 2.8% during the 4th quarter. EWA LLC now owns 2,182 shares of the oil and gas company's stock valued at $333,000 after buying an additional 59 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in Chevron by 0.5% during the 4th quarter. Hantz Financial Services Inc. now owns 12,916 shares of the oil and gas company's stock valued at $1,969,000 after buying an additional 59 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Chevron

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 Stock Up 1.7%

NYSE:CVX opened at $185.58 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $191.96 and a 200-day simple moving average of $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. Chevron Corporation has a twelve month low of $136.43 and a twelve month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the previous year, the company posted $2.18 earnings per share. The firm's revenue was up 2.1% on a year-over-year basis. Analysts anticipate that Chevron Corporation will post 15.74 EPS for the current year.

Chevron Announces Dividend

The firm 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 dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron's dividend payout ratio is presently 123.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CVX shares. Wells Fargo & Company increased their price objective on shares of Chevron from $204.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, April 9th. Tudor Pickering raised shares of Chevron from a "hold" rating to a "buy" rating and set a $225.00 target price for the company in a report on Thursday, April 9th. TD Cowen raised their target price on shares of Chevron from $204.00 to $205.00 and gave the company a "hold" rating in a report on Friday, May 8th. Bank of America raised their target price on shares of Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Finally, UBS Group raised their target price on shares of Chevron from $218.00 to $220.00 and gave the company a "buy" rating in a report on Monday, May 4th. One 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 given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $205.70.

Insider Activity at Chevron

In other news, insider R. Hewitt Pate sold 47,200 shares of the company's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $192.12, for a total transaction of $9,068,064.00. Following the completion of the transaction, the insider directly owned 8,558 shares of the company's stock, valued at $1,644,162.96. This represents a 84.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John B. Hess sold 380,000 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares of the company's stock, valued at approximately $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 662,400 shares of company stock valued at $127,090,824. Corporate insiders own 0.56% of the company's stock.

Chevron 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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