Investment Management Corp of Ontario Purchases 64,839 Shares of Chevron Corporation $CVX

Investment Management Corp of Ontario grew its position in shares of Chevron Corporation (NYSE:CVX) by 62.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,839 shares of the oil and gas company’s stock after buying an additional 64,839 shares during the period. Investment Management Corp of Ontario’s holdings in Chevron were worth $25,733,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after buying an additional 12,789,399 shares during the period. Berkshire Hathaway Inc increased its position in Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after buying an additional 8,091,570 shares during the period. Geode Capital Management LLC increased its position in Chevron by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock worth $6,620,187,000 after buying an additional 134,890 shares during the period. Charles Schwab Investment Management Inc. increased its position in Chevron by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock worth $5,492,377,000 after buying an additional 961,341 shares during the period. Finally, Norges Bank bought a new position in Chevron during the 4th quarter worth $3,727,586,000. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction dated 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 $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the transaction, the insider owned 8,638 shares in the company, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 615,200 shares of company stock worth $118,022,760. Company insiders own 0.56% of the company’s stock.

Chevron Stock Down 1.5%

CVX stock opened at $177.44 on Thursday. The company has a market cap of $353.40 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 0.59 and a beta of 0.48. The business has a 50-day simple moving average of $187.58 and a 200 day simple moving average of $178.90. Chevron Corporation has a 52 week low of $142.40 and a 52 week high of $214.71. 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 (NYSE:CVX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.Chevron’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.18 earnings per share. Sell-side analysts anticipate that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was 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: Chevron received a Buy rating from Jefferies, which supports the stock’s longer-term outlook and suggests analysts still see value in the shares. Article Title
• Positive Sentiment: Chevron secured a strategic entry into Greece’s Offshore Block 10, expanding its exploration footprint in the Eastern Mediterranean and adding a potential growth avenue. Article Title
• Neutral Sentiment: Chevron’s CEO reiterated that the investment case is not just about oil prices, pointing investors toward dividends, cash flow, and portfolio strength rather than only near-term crude moves. Article Title
• Neutral Sentiment: Several articles noted Chevron is in a wait-and-see zone after a strong run, with investors watching cash flow and dividend durability as the stock trades below its recent peak. Article Title
• Negative Sentiment: Chevron is being hit by a fall in crude prices tied to easing Middle East supply tensions, which can reduce upstream earnings expectations for an integrated oil major. Article Title
• Negative Sentiment: Market commentary also points to a broader rotation out of Big Oil and into consumer stocks as fuel costs decline, adding near-term pressure on Chevron shares. Article Title
• Negative Sentiment: Recent coverage on California refiners showed profit margins expanding sharply, which could keep attention on the refining segment but also highlights volatile industry economics rather than a clear tailwind for CVX. Article Title

Analysts Set New Price Targets

Several research analysts have weighed in on the company. The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 price objective on shares of Chevron in a research report on Wednesday, May 6th. Mizuho boosted their price target on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Chevron in a research note on Tuesday, May 5th. Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a research note on Thursday, April 9th. Finally, Sanford C. Bernstein dropped their price target on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research note on Monday, May 11th. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.