ABN Amro Investment Solutions Makes New Investment in Chevron Corporation $CVX

ABN Amro Investment Solutions acquired a new stake in shares of Chevron Corporation (NYSE:CVX) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 72,799 shares of the oil and gas company’s stock, valued at approximately $11,095,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Rathbones Group PLC lifted its holdings in shares of Chevron by 0.9% during the fourth quarter. Rathbones Group PLC now owns 746,934 shares of the oil and gas company’s stock valued at $113,840,000 after acquiring an additional 6,558 shares during the period. Kennedy Investment Group lifted its holdings in shares of Chevron by 18.2% during the fourth quarter. Kennedy Investment Group now owns 2,063 shares of the oil and gas company’s stock valued at $314,000 after acquiring an additional 317 shares during the period. IFP Advisors Inc lifted its holdings in shares of Chevron by 12.8% during the fourth quarter. IFP Advisors Inc now owns 54,013 shares of the oil and gas company’s stock valued at $8,232,000 after acquiring an additional 6,134 shares during the period. TPG Financial Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at about $214,000. Finally, Adell Harriman & Carpenter Inc. raised its holdings in shares of Chevron by 3.7% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 70,268 shares of the oil and gas company’s stock valued at $10,710,000 after buying an additional 2,493 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

Shares of NYSE:CVX opened at $191.39 on Thursday. The stock has a market capitalization of $381.18 billion, a P/E ratio of 33.17, a P/E/G ratio of 0.66 and a beta of 0.51. Chevron Corporation has a 1-year low of $133.77 and a 1-year high of $214.71. 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 business has a 50-day moving average price of $193.45 and a two-hundred day moving average price of $174.25.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 6.90% and a net margin of 5.79%.The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.18 EPS. Equities analysts predict that Chevron Corporation will post 15.43 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s payout ratio is currently 123.40%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Sanford C. Bernstein decreased their price objective on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. BMO Capital Markets reissued an “outperform” rating and set a $190.00 price objective on shares of Chevron in a report on Monday, February 2nd. Finally, Argus set a $203.00 price objective on shares of Chevron in a report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $204.13.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Oil prices remain elevated, and Zacks said WTI above $100 keeps Chevron and other Permian-focused energy names in the spotlight, supporting cash flow and investor interest. Article Title
• Positive Sentiment: Barrons argued Chevron can keep rising as oil prices increase, reinforcing the view that the company still has upside despite recent gains. Article Title
• Positive Sentiment: Bernstein analyst Bob Brackett said energy stocks like Chevron may be undervalued relative to Treasuries, framing CVX as an attractive income and total-return play. Article Title
• Positive Sentiment: Several recent pieces highlighted Chevron as a long-term, blue-chip energy holding, and Zacks noted rising earnings estimates for CVX, which can support the stock. Article Title
• Neutral Sentiment: Comparisons with Shell and ExxonMobil mainly keep Chevron in the investment conversation without adding a clear new catalyst. Article Title
• Negative Sentiment: The biggest overhang is Berkshire Hathaway’s latest stake reduction in Chevron, which can weigh on sentiment even though Berkshire still holds a meaningful position. Article Title

Insider Activity

In other Chevron news, Vice Chairman Mark A. Nelson sold 139,600 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the sale, the insider directly owned 11,337 shares of the company’s stock, valued at approximately $2,130,449.04. The trade was a 92.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John B. Hess sold 195,000 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $184.78, for a total value of $36,032,100.00. Following the sale, the director directly owned 658,045 shares of the company’s stock, valued at $121,593,555.10. This represents a 22.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 799,699 shares of company stock worth $151,259,517. Corporate insiders own 0.56% of the company’s stock.

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.