Asahi Life Asset Management CO. LTD. Buys 4,731 Shares of Chevron Corporation $CVX

Asahi Life Asset Management CO. LTD. raised its position in shares of Chevron Corporation (NYSE:CVXFree Report) by 45.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,093 shares of the oil and gas company’s stock after acquiring an additional 4,731 shares during the quarter. Chevron makes up approximately 1.3% of Asahi Life Asset Management CO. LTD.’s holdings, making the stock its 25th largest position. Asahi Life Asset Management CO. LTD.’s holdings in Chevron were worth $2,344,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vishria Bird Financial Group LLC lifted its position in Chevron by 1.2% during the third quarter. Vishria Bird Financial Group LLC now owns 5,285 shares of the oil and gas company’s stock valued at $821,000 after buying an additional 65 shares during the period. Nexus Investment Management ULC increased its stake in shares of Chevron by 0.9% in the 3rd quarter. Nexus Investment Management ULC now owns 7,641 shares of the oil and gas company’s stock worth $1,187,000 after acquiring an additional 65 shares in the last quarter. Scott & Selber Inc. lifted its position in Chevron by 0.5% during the 3rd quarter. Scott & Selber Inc. now owns 13,391 shares of the oil and gas company’s stock valued at $2,079,000 after acquiring an additional 65 shares during the period. White Knight Strategic Wealth Advisors LLC boosted its stake in Chevron by 3.0% during the second quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock worth $319,000 after acquiring an additional 65 shares in the last quarter. Finally, William B. Walkup & Associates Inc. boosted its stake in Chevron by 1.0% during the third quarter. William B. Walkup & Associates Inc. now owns 6,356 shares of the oil and gas company’s stock worth $987,000 after acquiring an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, insider Andrew Benjamin Walz sold 1,463 shares of Chevron stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $183.83, for a total value of $268,943.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R. Hewitt Pate sold 41,134 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $176.40, for a total transaction of $7,256,037.60. Following the sale, the insider owned 4,169 shares of the company’s stock, valued at approximately $735,411.60. This represents a 90.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 534,898 shares of company stock valued at $89,543,711 in the last ninety days. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CVX. Scotiabank reiterated a “sector perform” rating and set a $168.00 target price on shares of Chevron in a report on Friday, January 16th. Piper Sandler reduced their price objective on Chevron from $178.00 to $174.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. BMO Capital Markets reissued an “outperform” rating and issued a $190.00 target price on shares of Chevron in a report on Monday, February 2nd. Barclays raised their price target on Chevron from $158.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, January 21st. Finally, Melius Research raised Chevron from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a research report on Tuesday. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $176.36.

Get Our Latest Research Report on CVX

Chevron Trading Down 0.6%

Shares of NYSE:CVX opened at $183.69 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $187.90. The company has a market cap of $369.86 billion, a P/E ratio of 27.58, a PEG ratio of 12.23 and a beta of 0.70. The stock’s fifty day moving average price is $165.86 and its 200-day moving average price is $158.48.

Chevron (NYSE:CVXGet Free Report) last released its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.44 by $0.08. The company had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. Chevron had a return on equity of 8.23% and a net margin of 6.51%.Chevron’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period last year, the company earned $2.06 EPS. Sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. This is a positive change from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date is Tuesday, February 17th. Chevron’s payout ratio is currently 106.91%.

Trending Headlines about Chevron

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Chevron Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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