OMERS ADMINISTRATION Corp Has $211.73 Million Stake in Chevron Corporation $CVX

Key Points

• OMERS Administration Corp boosted its Chevron stake by 32.1% in the first quarter, adding 248,631 shares and bringing its total holding to 1,023,362 shares worth about $211.7 million.
• Chevron continues to attract major institutional investors, with firms like State Street, Berkshire Hathaway, and Geode Capital all holding large positions; overall, 72.42% of the stock is owned by institutions and hedge funds.
• The company recently beat earnings estimates with $1.41 EPS, paid a quarterly dividend of $1.78 per share for a 3.7% annualized yield, and has received generally positive analyst coverage with a consensus rating of Moderate Buy.

OMERS ADMINISTRATION Corp lifted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 32.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,023,362 shares of the oil and gas company's stock after acquiring an additional 248,631 shares during the period. Chevron accounts for about 1.4% of OMERS ADMINISTRATION Corp's investment portfolio, making the stock its 14th largest position. OMERS ADMINISTRATION Corp owned approximately 0.05% of Chevron worth $211,734,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Chevron by 9.1% during the third 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 during the last quarter. Berkshire Hathaway Inc lifted its stake in shares of Chevron by 6.6% in the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock worth $19,837,131,000 after buying an additional 8,091,570 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Chevron by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company's stock worth $6,620,187,000 after buying an additional 134,890 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company's stock worth $5,492,377,000 after buying an additional 961,341 shares during the period. Finally, Norges Bank acquired a new position in Chevron in the 4th quarter valued at $3,727,586,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as one of the biggest beneficiaries of the recent oil rally, with Brent briefly topping $100 a barrel and integrated oil majors gaining as investors price in tighter global supply. BATL, CVX, XOM Stocks Rise As Brent Crude Tops $100 – Trump Threatens Iran With 'Major Military Punishment' After Houthi Attack On Saudi Ships
• Positive Sentiment: Chevron was also singled out as the only “outperform”-rated global oil major in Piper Sandler’s new coverage, reinforcing a relatively favorable analyst view versus peers. Chevron only outperform-rated name among global oil majors initiated at Piper Sandler
• Neutral Sentiment: Recent commentary says Chevron is rallying despite a classic bearish signal, suggesting momentum traders are still buying the stock even after the move in oil. Chevron ignored a classic bearish call: Here's why stock is rallying
• Neutral Sentiment: Several previews ahead of next week’s earnings note that Chevron is expected to report higher earnings, but one Zacks piece warns the company may not have the ideal setup for a clear beat. Chevron (CVX) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
• Negative Sentiment: Some analysis cautions that Chevron’s rally could face headwinds if Chinese crude demand weakens, which could limit upside even if oil prices remain elevated. Chevron’s Biggest Stock Rally Since 2022 Faces a China-Sized Problem

Chevron Price Performance

NYSE:CVX opened at $194.72 on Friday. The stock has a market cap of $387.80 billion, a P/E ratio of 33.75, a PEG ratio of 0.69 and a beta of 0.50. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71. The company has a fifty day moving average price of $182.12 and a 200 day moving average price of $183.83. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.41. The firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business's revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.18 EPS. Analysts anticipate that Chevron Corporation will post 15.6 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date of this dividend was 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 is currently 123.40%.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 380,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.56% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on CVX. UBS Group reiterated a "buy" rating on shares of Chevron in a report on Tuesday, June 23rd. Tudor Pickering upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $225.00 price target for the company in a report on Thursday, April 9th. Weiss Ratings downgraded Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 2nd. Mizuho lifted their price objective on Chevron from $225.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $220.00 price objective on shares of Chevron in a research report on Tuesday, May 5th. Nineteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Chevron has a consensus rating of "Moderate Buy" and an average target price of $205.17.

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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