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

Key Points

• AEGON Asset Management UK increased its Chevron stake by 18.3% in the third quarter, adding 34,168 shares to reach 221,389 shares valued at about $45.2 million.
• Chevron reported quarterly earnings of $5.28 per share, beating the $4.87 consensus estimate, while revenue rose 36.3% year over year to $65.24 billion.
• Chevron declared a quarterly dividend of $1.78 per share, equivalent to a 3.4% annualized yield; analysts’ consensus rating was “Moderate Buy,” with a $221.88 average price target.

AEGON ASSET MANAGEMENT UK Plc grew its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 18.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 221,389 shares of the oil and gas company's stock after acquiring an additional 34,168 shares during the period. AEGON ASSET MANAGEMENT UK Plc's holdings in Chevron were worth $45,210,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Main Street Group LTD bought a new stake in shares of Chevron in the 1st quarter valued at about $28,000. Kilter Group LLC bought a new position in shares of Chevron during the second quarter valued at approximately $28,000. Principia Wealth Advisory LLC increased its holdings in Chevron by 49.6% during the second quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company's stock valued at $30,000 after buying an additional 60 shares during the period. Legacy Wealth Managment LLC ID raised its stake in Chevron by 81.8% in the first quarter. Legacy Wealth Managment LLC ID now owns 220 shares of the oil and gas company's stock worth $46,000 after buying an additional 99 shares in the last quarter. Finally, Strategic Wealth Advisors LLC bought a new position in Chevron in the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Trading Down 0.8%

NYSE CVX opened at $210.91 on Tuesday. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $236.48. The company has a fifty day simple moving average of $215.09 and a two-hundred day simple moving average of $194.63. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The stock has a market cap of $416.71 billion, a P/E ratio of 15.43, a P/E/G ratio of 0.51 and a beta of 0.47.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, beating analysts' consensus estimates of $4.87 by $0.41. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The firm had revenue of $65.24 billion for the quarter, compared to analyst estimates of $61.82 billion. During the same period in the previous year, the company earned $1.85 earnings per share. The business's quarterly revenue was up 36.3% compared to the same quarter last year. On average, analysts forecast that Chevron Corporation will post 18.56 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, November 18th. Chevron's dividend payout ratio is 52.08%.

Insider Buying and Selling at Chevron

In other Chevron news, insider Andrew Walz sold 16,800 shares of Chevron stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the transaction, the insider owned 14 shares in the company, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider R. Pate sold 40,700 shares of Chevron stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $226.65, for a total value of $9,224,655.00. Following the transaction, the insider owned 8,791 shares of the company's stock, valued at $1,992,480.15. The trade was a 82.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 379,470 shares of company stock valued at $77,216,415. 0.56% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. William Blair assumed coverage on Chevron in a report on Wednesday, October 28th. They set an "outperform" rating for the company. BNP Paribas Exane cut their price target on Chevron from $230.00 to $224.00 and set an "outperform" rating on the stock in a report on Friday, July 17th. Barclays boosted their price target on Chevron from $208.00 to $244.00 and gave the stock an "equal weight" rating in a research report on Monday, November 2nd. Morgan Stanley upped their price objective on Chevron from $226.00 to $230.00 and gave the stock an "overweight" rating in a research note on Monday, November 2nd. Finally, Freedom Broker raised Chevron from a "sell" rating to a "hold" rating and set a $218.00 price objective on the stock in a research report on Thursday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.88.

About Chevron

Chevron Corporation NYSE: CVX is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.