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

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its Chevron stake by 45.5% in the fourth quarter, bringing its holdings to 116,709 shares valued at about $17.8 million.
• Several analysts remain constructive on Chevron, with recent upgrades and a consensus Moderate Buy rating; MarketBeat reports an average price target of $205.70.
• Chevron reported quarterly EPS of $1.41, beating expectations, and also declared a $1.78 quarterly dividend payable June 10, implying a 3.8% yield.

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 45.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,709 shares of the oil and gas company's stock after purchasing an additional 36,478 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Chevron were worth $17,788,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Dakota Wealth Management increased its stake in Chevron by 14.9% in the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock valued at $12,690,000 after purchasing an additional 10,822 shares during the last quarter. Brooklyn FI LLC acquired a new position in Chevron in the third quarter valued at $431,000. Clear Trail Advisors LLC acquired a new position in Chevron in the fourth quarter valued at $10,167,000. Finemark National Bank & Trust increased its stake in Chevron by 40.3% in the third quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company's stock valued at $8,779,000 after purchasing an additional 16,243 shares during the last quarter. Finally, Curtis Advisory Group LLC acquired a new position in Chevron in the fourth quarter valued at $1,381,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the subject of several research analyst reports. BNP Paribas Exane upgraded Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 price target for the company in a research note on Friday, April 17th. Weiss Ratings lowered Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday. Tudor Pickering upgraded Chevron from a "hold" rating to a "buy" rating and set a $225.00 price target for the company in a research note on Thursday, April 9th. Morgan Stanley upped their price target on Chevron from $212.00 to $214.00 and gave the stock an "overweight" rating in a research note on Friday, May 22nd. Finally, Citigroup upped their price target on Chevron from $210.00 to $235.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $205.70.

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares of the company's stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total value 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 $1,842,485.40. This represents a 82.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 615,200 shares of company stock valued at $118,022,760 in the last ninety days. Company insiders own 0.56% of the company's stock.

Chevron Price Performance

Shares of NYSE CVX opened at $187.46 on Friday. Chevron Corporation has a 1-year low of $138.09 and a 1-year high of $214.71. The business has a 50-day moving average of $190.66 and a 200-day moving average of $176.82. 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 company has a market capitalization of $373.35 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 0.62 and a beta of 0.48.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping 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 company had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same quarter in the prior year, the business earned $2.18 earnings per share. The company's revenue was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be given a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. Chevron's dividend payout ratio is presently 123.40%.

Chevron News Summary

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)

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.

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