Chevron Corporation $CVX Shares Acquired by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc increased its stake in shares of Chevron Corporation (NYSE:CVX) by 34.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 204,534 shares of the oil and gas company’s stock after acquiring an additional 52,247 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Chevron were worth $42,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in CVX. D.B. Root & Company LLC increased its stake in shares of Chevron by 1.0% during the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after acquiring an additional 57 shares during the period. Fox Hill Wealth Management raised its position in Chevron by 1.7% in the fourth quarter. Fox Hill Wealth Management now owns 3,443 shares of the oil and gas company’s stock worth $525,000 after acquiring an additional 57 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in Chevron by 6.8% in the 4th quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company’s stock valued at $142,000 after acquiring an additional 59 shares during the last quarter. MMA Asset Management LLC boosted its position in shares of Chevron by 3.4% during the 4th quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company’s stock valued at $277,000 after purchasing an additional 59 shares in the last quarter. Finally, EWA LLC boosted its position in shares of Chevron by 2.8% during the 4th quarter. EWA LLC now owns 2,182 shares of the oil and gas company’s stock valued at $333,000 after purchasing an additional 59 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

Shares of CVX opened at $173.51 on Monday. Chevron Corporation has a one year low of $142.40 and a one year high of $214.71. The company has a 50-day moving average of $186.63 and a two-hundred day moving average of $179.20. The stock has a market cap of $345.56 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 0.57 and a beta of 0.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.18 earnings per share. On average, equities research analysts expect that Chevron Corporation will post 15.88 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 4.1%. The ex-dividend date was Tuesday, May 19th. Chevron’s payout ratio is presently 123.40%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Chevron from $218.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Mizuho raised their target price on shares of Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Citigroup lifted their price target on shares of Chevron from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Barclays upped their price target on Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a report on Tuesday, May 26th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $216.00 price objective on shares of Chevron in a research report on Wednesday, May 6th. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.70.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the sale, the insider directly owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 615,200 shares of company stock worth $118,022,760. Company insiders own 0.56% 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.