Chevron Corporation $CVX Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Chevron Corporation (NYSE:CVX) by 45.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,709 shares of the oil and gas company’s stock after buying an additional 36,478 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Chevron were worth $17,788,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVX. Vanguard Group Inc. raised its stake in Chevron by 17.9% during the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after buying an additional 27,961,463 shares in the last quarter. Norges Bank acquired a new stake in Chevron during the fourth quarter valued at approximately $3,727,586,000. State Street Corp raised its stake in Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after buying an additional 12,789,399 shares in the last quarter. Primecap Management Co. CA acquired a new stake in Chevron during the third quarter valued at approximately $988,083,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Chevron by 822.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,211,258 shares of the oil and gas company’s stock valued at $946,658,000 after buying an additional 5,537,580 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Several recent articles highlight Chevron as a durable, low-beta energy name with resilient assets, strong cash flow, and a dependable dividend, which can attract buyers during volatile markets. 4 Best Low-Beta Stocks to Buy Right Away: LQDA, CVX, OXY & VLO
• Positive Sentiment: Chevron has outperformed its industry and sector over the past month, with commentary pointing to dividend growth and 2030 cash flow targets as reasons investors remain constructive. CVX Stock Outpaces Industry in a Month: Should Investors Stay Bullish?
• Positive Sentiment: Oil-stock forecasts remain supportive as conflict-related supply worries keep crude in focus, which tends to benefit Chevron through improved upstream pricing and sector rotation into energy. CVX, XOM and SHEL Forecasts – Oil Stocks in Focus as Conflict Continues
• Positive Sentiment: Street commentary also suggests Chevron is still a long-term hold, with articles calling it an “ultra-safe” dividend stock and saying its long-term prospects remain rosy. Got $3,000? 1 Ultra-Safe Dow Dividend Stock to Buy and Hold Forever
• Neutral Sentiment: Analyst notes show a mixed valuation picture: some targets were lifted modestly, but others say Chevron looks fully valued if oil prices ease, leaving the stock sensitive to commodity assumptions. How The Chevron (CVX) Story Is Shifting With New Analyst Targets And Oil Market Risks
• Negative Sentiment: One recent downgrade argued Chevron could be pressured if an Iran deal or easing geopolitical risk sends oil prices lower, which would reduce the stock’s near-term upside. Chevron Looks Fully Valued As An Iran Deal Could Send Oil Lower (Rating Downgrade)

Chevron Stock Down 0.5%

CVX opened at $187.46 on Friday. Chevron Corporation has a 12 month low of $138.09 and a 12 month high of $214.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The stock has a market cap of $373.35 billion, a P/E ratio of 32.49, a P/E/G ratio of 0.62 and a beta of 0.48. The stock’s 50 day moving average price is $190.66 and its 200 day moving average price is $176.82.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. During the same period last year, the firm earned $2.18 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts predict that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Citigroup increased their price target on Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research report on Friday, March 20th. Piper Sandler increased their price target on Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Scotiabank increased their price target on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Melius Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.70.

Insiders Place Their Bets

In other Chevron news, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the transaction, the insider directly owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. This trade represents a 82.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hess sold 380,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 615,200 shares of company stock valued at $118,022,760. 0.56% of the stock is currently owned by corporate insiders.

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.