Hillsdale Investment Management Inc. Decreases Stock Holdings in Chevron Corporation $CVX

Hillsdale Investment Management Inc. decreased its stake in shares of Chevron Corporation (NYSE:CVX) by 77.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,570 shares of the oil and gas company’s stock after selling 5,390 shares during the period. Hillsdale Investment Management Inc.’s holdings in Chevron were worth $325,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fortress Financial Solutions LLC bought a new stake in shares of Chevron in the first quarter worth $220,000. ABC Arbitrage SA lifted its holdings in Chevron by 723.3% in the first quarter. ABC Arbitrage SA now owns 21,983 shares of the oil and gas company’s stock valued at $4,548,000 after acquiring an additional 19,313 shares during the period. Nicholson Wealth Management Group LLC lifted its holdings in Chevron by 12.1% in the first quarter. Nicholson Wealth Management Group LLC now owns 3,246 shares of the oil and gas company’s stock valued at $672,000 after acquiring an additional 350 shares during the period. Summit Wealth Group LLC boosted its position in Chevron by 20.9% in the first quarter. Summit Wealth Group LLC now owns 2,730 shares of the oil and gas company’s stock worth $565,000 after purchasing an additional 472 shares during the last quarter. Finally, Calamos Wealth Management LLC grew its stake in shares of Chevron by 18.4% during the 1st quarter. Calamos Wealth Management LLC now owns 125,749 shares of the oil and gas company’s stock valued at $26,018,000 after purchasing an additional 19,560 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $187.39 on Friday. The business has a 50-day simple moving average of $181.54 and a two-hundred day simple moving average of $182.44. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 52 week low of $146.49 and a 52 week high of $214.71. The stock has a market cap of $373.21 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 0.64 and a beta of 0.50.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.18 EPS. On average, analysts expect that Chevron Corporation will post 14.83 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction that occurred 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 transaction, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.56% of the company’s stock.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
• Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
• Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
• Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
• Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVX. Citigroup upped their price target 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. Morgan Stanley dropped their price objective on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. The Goldman Sachs Group restated a “buy” rating and set a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $216.00 target price on shares of Chevron in a report on Friday, July 10th. Finally, Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Thursday, July 2nd. 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, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $206.83.

Chevron Company 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.