Financiere des Professionnels Fonds d investissement inc. Has $14.74 Million Stock Holdings in Chevron Corporation $CVX

Financiere des Professionnels Fonds d investissement inc. lifted its position in shares of Chevron Corporation (NYSE:CVX) by 297.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,226 shares of the oil and gas company’s stock after purchasing an additional 53,302 shares during the period. Chevron comprises 0.9% of Financiere des Professionnels Fonds d investissement inc.’s investment portfolio, making the stock its 23rd largest holding. Financiere des Professionnels Fonds d investissement inc.’s holdings in Chevron were worth $14,737,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bessemer Group Inc. raised its holdings in Chevron by 16.2% in the 1st quarter. Bessemer Group Inc. now owns 3,471,036 shares of the oil and gas company’s stock valued at $718,156,000 after buying an additional 483,185 shares during the last quarter. Jag Capital Management LLC grew its holdings in Chevron by 68.6% during the 1st quarter. Jag Capital Management LLC now owns 2,519 shares of the oil and gas company’s stock worth $521,000 after acquiring an additional 1,025 shares during the last quarter. Avalon Trust Co increased its position in Chevron by 164.9% in the 1st quarter. Avalon Trust Co now owns 1,285 shares of the oil and gas company’s stock valued at $266,000 after acquiring an additional 800 shares during the period. Gerald Baker Financial Group LLC acquired a new position in Chevron in the 1st quarter valued at approximately $5,130,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Chevron by 35.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 302,380 shares of the oil and gas company’s stock valued at $59,693,000 after acquiring an additional 78,989 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign memorandums of understanding with Iraq to advance investment in the West Qurna 2 and Nassiriya oilfields, potentially expanding its long-term production base. Reuters article
• Positive Sentiment: The company is also exploring a pipeline alternative to the Strait of Hormuz, which could reduce export risk and support more reliable Iraqi oil shipments if geopolitical risk stays elevated. WSJ article
• Positive Sentiment: Chevron’s stock has also been helped by broader energy-sector strength, with energy shares rising even as the wider market softened. Yahoo Finance article
• Neutral Sentiment: Analysts and commentary suggest Chevron may be fairly valued after a strong five-year run, which supports the stock but also limits the upside from valuation alone. Yahoo Finance article
• Neutral Sentiment: Recent broker notes have been mixed, including hold ratings and modest price-target cuts, indicating Wall Street is constructive but not aggressively bullish. Yahoo Finance article

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.56% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $183.69 on Friday. 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 firm’s fifty day simple moving average is $181.42 and its two-hundred day simple moving average is $182.41. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $214.71. The stock has a market capitalization of $365.83 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 0.64 and a beta of 0.50.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.18 earnings per share. As a group, analysts predict that Chevron Corporation will post 14.75 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a research note on Friday, March 20th. Weiss Ratings lowered Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Mizuho lifted their target price on Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. UBS Group reiterated a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Finally, Zacks Research cut Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Nineteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $206.83.

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.