Cibc World Market Inc. Grows Stock Holdings in Chevron Corporation $CVX

Cibc World Market Inc. increased its stake in shares of Chevron Corporation (NYSE:CVX) by 63.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,087,677 shares of the oil and gas company’s stock after purchasing an additional 423,746 shares during the period. Cibc World Market Inc.’s holdings in Chevron were worth $165,773,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. Core Wealth Advisors LLC purchased a new stake in Chevron during the fourth quarter valued at approximately $26,000. Strategic Wealth Advisors LLC purchased a new stake in Chevron during the fourth quarter valued at approximately $33,000. Daytona Street Capital LLC purchased a new stake in Chevron during the fourth quarter valued at approximately $44,000. Maseco LLP purchased a new stake in Chevron during the fourth quarter valued at approximately $49,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in Chevron during the third quarter valued at approximately $49,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider R. Hewitt Pate sold 47,200 shares of the company’s stock in a transaction on Friday, March 6th. The shares were 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 owned 8,558 shares in the company, valued at approximately $1,644,162.96. This represents a 84.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 662,400 shares of company stock valued at $127,090,824. 0.56% of the stock is owned by company insiders.

Chevron Stock Performance

Shares of NYSE CVX opened at $190.00 on Thursday. The firm has a fifty day moving average price of $191.38 and a 200-day moving average price of $176.53. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The stock has a market cap of $378.41 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 0.62 and a beta of 0.48. Chevron Corporation has a 1 year low of $136.70 and a 1 year high of $214.71.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The firm had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.18 earnings per share. Equities analysts anticipate that Chevron Corporation will post 15.74 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be given a dividend of $1.78 per share. The ex-dividend date is 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%.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s Argentina growth plans are drawing attention after the company applied for the country’s tax incentive program tied to a proposed $13.8 billion Vaca Muerta oil project. The move signals a major long-term investment in one of the world’s largest shale plays and could expand Chevron’s production base if approved. Reuters article
• Positive Sentiment: Wall Street commentary has turned more constructive on Chevron (CVX), with reports noting bullish analyst views and a higher price target from Barclays. That kind of sentiment often helps investors view the stock as undervalued relative to its cash generation and dividend profile. Yahoo Finance article
• Positive Sentiment: Chevron was also highlighted in a piece on high-yield dividend stocks, reinforcing its appeal to income-focused investors. With its steady payout and integrated business model, CVX continues to be seen as a defensive energy name. Blockonomi article
• Positive Sentiment: A broader feature on energy stocks tied to the AI power boom argued that Chevron could benefit from rising electricity demand through long-term gas supply relationships and its large-scale energy infrastructure. That supports the view that CVX has exposure beyond just oil prices. MarketBeat feature
• Neutral Sentiment: Recent governance and leadership updates, including the planned legal chief transition and shareholder votes on proposals, appear to confirm continuity rather than create a major new catalyst for the stock. Yahoo Finance article

Analysts Set New Price Targets

A number of brokerages have commented on CVX. Mizuho upped their target price on shares of Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a report on Friday, March 20th. Weiss Ratings cut shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Citigroup increased their price objective on shares of Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Finally, Barclays increased their price objective on shares of Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.70.

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.