TD Waterhouse Canada Inc. Raises Stock Holdings in Chevron Corporation $CVX

TD Waterhouse Canada Inc. raised its stake in Chevron Corporation (NYSE:CVX) by 2.4% during the third quarter, Holdings Channel reports. The fund owned 138,209 shares of the oil and gas company’s stock after buying an additional 3,284 shares during the period. TD Waterhouse Canada Inc.’s holdings in Chevron were worth $20,901,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Perigon Wealth Management LLC boosted its position in Chevron by 19.3% during the third quarter. Perigon Wealth Management LLC now owns 73,448 shares of the oil and gas company’s stock valued at $11,406,000 after buying an additional 11,875 shares during the period. New York State Teachers Retirement System lifted its stake in shares of 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 valued at $251,606,000 after acquiring an additional 215,345 shares during the last quarter. Solitude Financial Services boosted its holdings in Chevron by 8.2% during the 2nd quarter. Solitude Financial Services now owns 25,325 shares of the oil and gas company’s stock valued at $3,626,000 after acquiring an additional 1,913 shares during the period. Pictet North America Advisors SA bought a new position in Chevron during the 3rd quarter worth approximately $5,662,000. Finally, Shell Asset Management Co. increased its stake in Chevron by 21.4% in the 2nd quarter. Shell Asset Management Co. now owns 51,115 shares of the oil and gas company’s stock worth $7,319,000 after purchasing an additional 9,002 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 0.7%

Shares of NYSE CVX opened at $171.15 on Friday. The firm has a fifty day simple moving average of $155.87 and a two-hundred day simple moving average of $155.24. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $174.92. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $344.60 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 11.83 and a beta of 0.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The company had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter in the previous year, the company earned $2.48 earnings per share. Chevron’s quarterly revenue was down 1.9% on a year-over-year basis. Equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron plans to boost Venezuelan crude exports to the U.S. to ~300k barrels per day in March, which would increase feedstock volumes and near-term cash generation for its trading/marketing and refining exposures. Article Title
• Positive Sentiment: Analysts remain constructive: BMO reiterated a Buy citing Permian well performance and longer-term production visibility; other shops (RBC, DBS) have maintained or issued Buy ratings — supporting investor sentiment and the stock multiple. Article Title
• Positive Sentiment: Geopolitical risk is lifting oil prices (Iran tensions / U.S. naval movements), a tailwind for integrated oil majors’ earnings and dividend support that benefits Chevron’s stock sentiment. Article Title
• Positive Sentiment: Large institutional investors have been accumulating Chevron, which can underpin share demand and limit downside during earnings volatility. Article Title
• Neutral Sentiment: Market is focused on Chevron’s upcoming Q4 report — previews and analyst notes are circulating but consensus is mixed; this makes near-term moves earnings-driven rather than purely fundamentals-driven. Article Title
• Neutral Sentiment: Kazakhstan officials say Chevron has pledged reliable, safe operations at the Tengiz field — operational reassurance but not a major near-term catalyst. Article Title
• Negative Sentiment: Quarterly previews (Seeking Alpha and others) flag an expected sharp slide in Q4 profit vs. year-ago levels — that downside to near-term earnings could cap upside unless Chevron provides encouraging guidance. Article Title
• Negative Sentiment: Political and strategic debates over investing in Venezuela create policy and reputational risk, and Wall Street’s push for spending discipline means management faces conflicting pressures on capital allocation. Article Title

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CVX. Zacks Research raised Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 23rd. Piper Sandler dropped their price target on shares of Chevron from $178.00 to $174.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. HSBC set a $169.00 price target on shares of Chevron and gave the stock a “buy” rating in a report on Monday, December 1st. Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 price objective (down from $170.00) on shares of Chevron in a research note on Friday, October 17th. Finally, Citigroup cut their target price on Chevron from $185.00 to $179.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Chevron currently has an average rating of “Hold” and an average price target of $170.00.

Insider Transactions at Chevron

In other Chevron news, CFO Eimear P. Bonner sold 28,334 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $165.05, for a total transaction of $4,676,526.70. Following the transaction, the chief financial officer owned 4,366 shares in the company, valued at approximately $720,608.30. This represents a 86.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael K. Wirth sold 320,700 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $162.99, for a total value of $52,270,893.00. Following the completion of the transaction, the chief executive officer directly owned 14,450 shares of the company’s stock, valued at $2,355,205.50. This represents a 95.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 635,190 shares of company stock valued at $100,254,408. Insiders own 0.21% of the company’s stock.

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.