Rakuten Investment Management Inc. Increases Position in Chevron Corporation $CVX

Key Points

• Rakuten Investment Management sharply increased its Chevron stake in the fourth quarter, boosting holdings by 6,207.5% to 250,471 shares valued at about $37.8 million.
• Insider selling has been notable, with director John B. Hess and insider R. Hewitt Pate among those selling shares; insiders have sold 615,200 shares worth $118.0 million over the past 90 days.
• Wall Street remains cautiously positive on Chevron, with an average “Moderate Buy” rating and an average price target of $205.70, even as the stock has been pressured by weaker crude prices and broader energy-sector selling.

Rakuten Investment Management Inc. boosted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 6,207.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 250,471 shares of the oil and gas company's stock after purchasing an additional 246,500 shares during the quarter. Rakuten Investment Management Inc.'s holdings in Chevron were worth $37,819,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CVX. United Bank grew its holdings in shares of Chevron by 7.7% during the second quarter. United Bank now owns 11,079 shares of the oil and gas company's stock valued at $1,586,000 after buying an additional 796 shares during the last quarter. Schnieders Capital Management LLC. grew its holdings in shares of Chevron by 9.0% during the second quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company's stock valued at $7,280,000 after buying an additional 4,214 shares during the last quarter. BNP Paribas grew its holdings in shares of Chevron by 76.4% during the second quarter. BNP Paribas now owns 441 shares of the oil and gas company's stock valued at $63,000 after buying an additional 191 shares during the last quarter. Osterweis Capital Management Inc. grew its holdings in shares of Chevron by 678.9% during the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company's stock valued at $195,000 after buying an additional 1,188 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew its holdings in shares of Chevron by 3.6% during the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company's stock valued at $2,299,000 after buying an additional 553 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 380,000 shares of the firm's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares of the company's stock, 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 legal filing with the SEC, which is accessible through this link. Also, insider R. Hewitt Pate sold 40,200 shares of the firm's stock in a transaction on Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the transaction, the insider directly owned 8,638 shares of the company's stock, valued at $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 615,200 shares of company stock valued at $118,022,760 over the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on CVX. Tudor Pickering upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $225.00 price objective on the stock in a research report on Thursday, April 9th. Citigroup increased their price objective on shares of Chevron from $210.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. Royal Bank Of Canada restated an "outperform" rating and set a $220.00 price objective on shares of Chevron in a research report on Tuesday, May 5th. UBS Group increased their price objective on shares of Chevron from $218.00 to $220.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Finally, Zacks Research downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 8th. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $205.70.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron continues to look reasonably attractive to income-focused investors, with recent commentary highlighting its relatively low forward earnings multiple and the added production potential from the Hess acquisition, which expanded its exposure to Guyana and other key assets.
• Neutral Sentiment: Several headlines focused on broader market and energy-sector trends rather than Chevron-specific developments, including commentary on oil’s potential peak, Jim Cramer’s discussion of CVX, and general market rotation.
• Neutral Sentiment: Chevron also drew attention for ongoing institutional and analyst activity, with recent price targets clustered around the low-$200s and mixed fund flows that suggest Wall Street remains constructive overall but not uniformly bullish.
• Negative Sentiment: The main drag on Chevron has been the drop in crude prices after the U.S.-Iran deal framework, which reduced the geopolitical risk premium in oil and sparked broad selling across energy stocks. Article Title
• Negative Sentiment: Market commentary also noted that Chevron fell alongside peers such as Exxon and Occidental as oil prices slipped to multi-month lows, reinforcing that the move is being driven mainly by commodity weakness rather than a company-specific setback.

Chevron Stock Down 3.6%

Shares of CVX stock opened at $180.49 on Tuesday. The company has a market capitalization of $359.47 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 0.61 and a beta of 0.48. Chevron Corporation has a one year low of $142.40 and a one year high of $214.71. The company's fifty day moving average price is $188.38 and its 200-day moving average price is $178.49. 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 announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion for 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 company's revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $2.18 EPS. Sell-side analysts expect that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron's dividend payout ratio (DPR) is presently 123.40%.

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.

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.