Chevron Corporation (NYSE:CVX) Shares Bought by Associated Banc Corp

Key Points

• Associated Banc Corp increased its stake in Chevron Corporation by 2.0%, acquiring an additional 3,134 shares, bringing its total to 160,692 shares valued at $26.88 million.
• Chevron recently declared a quarterly dividend of $1.71 per share, which will be paid on September 10th, with an ex-dividend date on August 19th, representing a yield of 4.5%.
• Recent analyst ratings for Chevron show a mixed outlook, with three sell ratings, six hold ratings, and eleven buy ratings, reflecting a consensus rating of "Hold" with a target price of $164.11.

Associated Banc Corp raised its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 160,692 shares of the oil and gas company's stock after purchasing an additional 3,134 shares during the period. Associated Banc Corp's holdings in Chevron were worth $26,882,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CVX. Harvest Fund Management Co. Ltd boosted its stake in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after buying an additional 122 shares during the last quarter. 10Elms LLP purchased a new position in shares of Chevron during the 4th quarter valued at $29,000. IFS Advisors LLC grew its position in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Navigoe LLC purchased a new position in shares of Chevron during the 4th quarter valued at $33,000. Finally, Cloud Capital Management LLC purchased a new position in Chevron in the first quarter worth $39,000. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on CVX shares. Piper Sandler restated an "overweight" rating on shares of Chevron in a research report on Tuesday, July 15th. Scotiabank reissued a "sector perform" rating and issued a $160.00 price target (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Finally, Redburn Atlantic reiterated a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $164.11.

Chevron Trading Down 0.1%

Shares of CVX traded down $0.22 during trading on Wednesday, reaching $152.82. 7,838,780 shares of the company traded hands, compared to its average volume of 12,566,086. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a market cap of $266.89 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 2.29 and a beta of 0.87. The stock has a 50-day simple moving average of $147.44 and a 200-day simple moving average of $148.68. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.80%. The firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the prior year, the firm earned $2.55 EPS. The firm's revenue for the quarter was down 12.4% on a year-over-year basis. On average, analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be paid a dividend of $1.71 per share. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron's dividend payout ratio is currently 88.03%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.