Sumitomo Mitsui DS Asset Management Company Ltd Decreases Stake in Chevron Corporation $CVX

Key Points

• Sumitomo Mitsui DS Asset Management trimmed its stake in Chevron by 3.2% in Q4 to 630,927 shares (worth $96.16M), representing 0.8% of the fund and its 28th-largest holding.
• Insiders sold 621,439 Chevron shares worth $118.3M over the past three months, including CEO Michael K. Wirth’s sale of 272,624 shares for about $51.6M (an ~89.7% reduction in his position).
• Analyst consensus is broadly positive (MarketBeat consensus "Moderate Buy", $202.09 target), and Chevron pays a $1.78 quarterly dividend ($7.12 annualized, 3.7% yield) with a payout ratio of 123.4%.

Sumitomo Mitsui DS Asset Management Company Ltd decreased its position in Chevron Corporation (NYSE:CVX - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 630,927 shares of the oil and gas company's stock after selling 20,693 shares during the period. Chevron accounts for 0.8% of Sumitomo Mitsui DS Asset Management Company Ltd's investment portfolio, making the stock its 28th biggest holding. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Chevron were worth $96,160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in 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 valued at $28,540,753,000 after buying an additional 27,961,463 shares during the last quarter. State Street Corp increased its stake in 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 valued at $23,698,184,000 after buying an additional 12,789,399 shares during the last quarter. Northern Trust Corp increased its stake in 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 valued at $3,528,890,000 after buying an additional 3,007,403 shares during the last quarter. Fisher Asset Management LLC increased its stake in 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 valued at $3,284,704,000 after buying an additional 325,255 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in 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 valued at $3,047,900,000 after buying an additional 4,279,918 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 272,624 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $189.35, for a total value of $51,621,354.40. Following the completion of the transaction, the chief executive officer directly owned 31,266 shares in the company, valued at approximately $5,920,217.10. The trade was a 89.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Thomas Ryder Booth sold 11,076 shares of Chevron stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $184.40, for a total transaction 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 $206,896.80. This represents a 90.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 621,439 shares of company stock worth $118,307,800 in the last three months. Insiders own 0.56% of the company's stock.

Analyst Ratings Changes

CVX has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded shares of Chevron from a "neutral" rating to an "overweight" rating and set a $176.00 price objective for the company in a research note on Tuesday, January 20th. HSBC upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $215.00 price target for the company in a research note on Friday, March 20th. Argus set a $203.00 price target on shares of Chevron in a research note on Tuesday, February 3rd. Zacks Research upgraded shares of Chevron from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 3rd. Finally, Mizuho raised their price target on shares of Chevron from $206.00 to $217.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $202.09.

Chevron Trading Up 0.2%

Shares of CVX stock opened at $192.65 on Wednesday. The company has a 50 day moving average of $193.26 and a 200-day moving average of $171.64. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12-month low of $133.77 and a 12-month high of $214.71. The firm has a market cap of $383.81 billion, a P/E ratio of 33.39, a PEG ratio of 0.71 and a beta of 0.51.

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 (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 7.01%. The company had revenue of $48.61 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same quarter last year, the business posted $2.18 EPS. Chevron's quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Corporation will post 14.16 earnings per share for the current year.

Chevron Dividend Announcement

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

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: CEO warning and higher oil prices: CEO Mike Wirth said physical shortages could emerge if the Strait of Hormuz remains disrupted, a comment that supports oil-price upside and benefits integrated producers like Chevron. Chevron CEO says physical shortages in oil supply to begin appearing
• Positive Sentiment: Oil-driven rally and capital returns: Coverage notes that CVX is rallying as crude moves higher and Chevron’s shareholder-friendly capital returns (buybacks/dividends) remain a tailwind for valuation and investor sentiment. Chevron Corporation (CVX) Rallies as Oil Prices Surge and Capital Returns Impress
• Positive Sentiment: Analyst support: Royal Bank of Canada reaffirmed an “outperform” rating and set a $220 price target, signaling broker confidence and potential upside vs. current levels. Benzinga
• Neutral Sentiment: Exploration expansion: Chevron said it will search for oil and gas south of Malta, extending Mediterranean activity — a strategic growth move whose near-term impact on production and cash flow is uncertain. Chevron expands Mediterranean activities with exploration offshore Malta
• Neutral Sentiment: Iraq asset negotiations: Reports that Chevron is in talks for stakes in major Iraqi fields represent meaningful long-term optionality but remain speculative until deals are announced. Chevron Iraqi Oilfield Talks And What They Could Mean For CVX Valuation
• Neutral Sentiment: Ceasefire reports temper tail-risk: U.S. statements that a ceasefire/pauses in hostilities are holding reduce the immediate tail risk of a full-blown Gulf conflict, which could cap further oil-price spikes and limit upside for CVX. US Says Iran Ceasefire in Place After Clashes Over Hormuz
• Negative Sentiment: Reputational and political risk: Consumer Watchdog alleges a “phony” Chevron-funded group is funding ads blaming California policy for high pump prices — a PR/political headwind that could attract regulatory or public-relations costs. Phony Chevron-Funded Group Blames CA When Chevron's Price Gouging Is Pegged For Run Up At Pump According To New State Gas Pricing Report, Says Consumer Watchdog
• Negative Sentiment: Price volatility after geopolitical headlines: While tensions initially pushed oil sharply higher, follow-on reports of the truce and easing shipping disruptions have pulled prices back at times — introducing near-term volatility that can pressure CVX shares. Oil Declines as Fragile Truce Holds Following Hormuz Clashes

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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