Elo Mutual Pension Insurance Co Raises Stake in Chevron Corporation $CVX

Elo Mutual Pension Insurance Co raised its holdings in shares of Chevron Corporation (NYSE:CVX) by 39.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,251 shares of the oil and gas company’s stock after purchasing an additional 54,382 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Chevron were worth $29,699,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CVX. Perigon Wealth Management LLC boosted its holdings in Chevron by 19.3% in the third quarter. Perigon Wealth Management LLC now owns 73,448 shares of the oil and gas company’s stock worth $11,406,000 after purchasing an additional 11,875 shares during the last quarter. New York State Teachers Retirement System increased its holdings in Chevron by 15.3% in the 3rd quarter. New York State Teachers Retirement System now owns 1,620,231 shares of the oil and gas company’s stock worth $251,606,000 after acquiring an additional 215,345 shares in the last quarter. Pictet North America Advisors SA bought a new stake in shares of Chevron during the 3rd quarter valued at $5,662,000. Finemark National Bank & Trust raised its holdings in Chevron by 40.3% during the third quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock valued at $8,779,000 after acquiring an additional 16,243 shares during the period. Finally, New York State Common Retirement Fund raised its stake in Chevron by 10.2% during the 3rd quarter. New York State Common Retirement Fund now owns 1,894,470 shares of the oil and gas company’s stock valued at $294,192,000 after purchasing an additional 175,439 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In related news, insider R. Hewitt Pate sold 41,134 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $176.40, for a total value of $7,256,037.60. Following the transaction, the insider directly owned 4,169 shares in the company, valued at approximately $735,411.60. This represents a 90.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Eimear P. Bonner sold 32,100 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the completion of the transaction, the chief financial officer owned 4,366 shares in the company, valued at approximately $764,093.66. This represents a 88.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 534,898 shares of company stock valued at $89,543,711 in the last three months. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVX. Argus set a $203.00 target price on Chevron in a research report on Tuesday, February 3rd. Jefferies Financial Group raised their price objective on Chevron from $174.00 to $189.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research report on Wednesday, January 21st. Mizuho boosted their price target on Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Finally, Morgan Stanley reduced their price target on Chevron from $180.00 to $174.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Thirteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $176.36.

Chevron Trading Up 1.3%

CVX stock opened at $186.47 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21. The firm has a market cap of $372.07 billion, a P/E ratio of 28.00, a PEG ratio of 12.36 and a beta of 0.67. The company’s 50-day simple moving average is $169.52 and its 200-day simple moving average is $159.64. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $187.90.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. The firm had revenue of $45.79 billion for the quarter, compared to analysts’ expectations of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.06 EPS. As a group, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be issued a dividend of $1.78 per share. The ex-dividend date is Tuesday, February 17th. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. This is an increase from Chevron’s previous quarterly dividend of $1.71. Chevron’s payout ratio is presently 106.91%.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Berkshire Hathaway has shifted its portfolio after Buffett’s exit and added to its Chevron stake, a high-profile institutional buyer that can support the stock and signal confidence to other investors. Berkshire Hathaway Shifts As Buffett Exits And Abel Faces New Tests
• Positive Sentiment: Coverage from The Motley Fool and other outlets remains bullish on CVX’s upside (including $200 targets) and highlights its attractive yield, which attracts income-focused investors. Is Chevron Stock Going to $200?
• Positive Sentiment: Jim Cramer publicly recommended holding Chevron, calling it a stock that can run higher and highlighting its 3.85% yield — media endorsements can lift retail demand. Jim Cramer on Chevron: “I Would Hold on to That”
• Neutral Sentiment: Macro/sector story: U.S. actions in Venezuela have strengthened Guyana’s oil future, a geopolitical development that supports long-term offshore oil investment and is generally positive for major oil companies’ sector outlook (indirect for Chevron). How America’s Action in Venezuela Guaranteed Guyana’s Oil Future
• Neutral Sentiment: Investor interest in dividend stocks/ETFs (multiple roundup pieces) increases demand for high-yield names like Chevron, but these are broader flows rather than company-specific catalysts. Got $10,000? Put It in These Dividend ETFs Now
• Negative Sentiment: A recent DCF-based intrinsic-value write-up estimates Chevron is overvalued by ~30% (intrinsic value ~$126), a valuation critique that could limit upside or trigger profit-taking among value-focused funds. Our Calculation Of Intrinsic Value: Chevron Corporation

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.