DNB Asset Management AS Grows Position in Chevron Corporation $CVX

Key Points

• DNB Asset Management AS increased its Chevron stake by 3.6% in the fourth quarter, ending with 512,875 shares valued at about $78.2 million. Several other institutional investors also raised their holdings, and hedge funds and institutions now own 72.42% of the stock.
• Chevron’s latest quarter was mixed: EPS of $1.41 beat estimates, but revenue of $47.56 billion missed expectations. The company also reaffirmed investor interest with a quarterly dividend of $1.78 per share, or $7.12 annualized, yielding 3.7%.
• Recent news was broadly supportive, including Chevron’s agreement to sell Asia-Pacific downstream assets to ENEOS for about $2.17 billion, which fits its portfolio-streamlining strategy. Analysts remain constructive overall, with a consensus Moderate Buy rating and average price target of $204.13.

DNB Asset Management AS increased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 512,875 shares of the oil and gas company's stock after purchasing an additional 17,643 shares during the period. DNB Asset Management AS's holdings in Chevron were worth $78,167,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. D.B. Root & Company LLC lifted its holdings in Chevron by 1.0% during the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company's stock valued at $846,000 after buying an additional 57 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in Chevron by 6.8% during the 4th quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company's stock valued at $142,000 after buying an additional 59 shares in the last quarter. MMA Asset Management LLC lifted its holdings in 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 buying an additional 59 shares in the last quarter. EWA LLC lifted its holdings in 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 buying an additional 59 shares in the last quarter. Finally, Barlow Wealth Partners LLC lifted its holdings in Chevron by 1.1% during the 4th quarter. Barlow Wealth Partners LLC now owns 5,363 shares of the oil and gas company's stock valued at $869,000 after buying an additional 60 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell its Singapore refining stake and other Asia-Pacific downstream assets to ENEOS for roughly $2.17 billion, reinforcing its strategy to streamline the portfolio and potentially improve returns. Reuters article on ENEOS buying Chevron assets
• Positive Sentiment: Another report framed Chevron’s recent earnings as less weak than the headline numbers suggested, noting that the company’s share price did not fall sharply after the results, which may indicate investors are focusing on underlying cash generation and strategic actions rather than the revenue miss. Yahoo Finance article on Chevron earnings
• Neutral Sentiment: Market commentary this week also compared Chevron with TotalEnergies and discussed broader oil-sector themes, but those pieces were more about sector positioning than a direct new fundamental change for Chevron. Motley Fool comparison article
• Negative Sentiment: Chevron’s latest quarter was mixed, with earnings per share beating estimates but revenue coming in below expectations, which could temper enthusiasm if investors refocus on operating performance rather than asset sales. Chevron stock background

Chevron Trading Up 2.3%

NYSE:CVX opened at $190.91 on Friday. Chevron Corporation has a one year low of $133.77 and a one year high of $214.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The firm has a market cap of $380.22 billion, a P/E ratio of 33.09, a P/E/G ratio of 0.64 and a beta of 0.51. The firm has a 50-day simple moving average of $193.14 and a 200-day simple moving average of $173.26.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly 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 net margin of 5.79% and a return on equity of 6.90%. The business had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the previous year, the business posted $2.18 EPS. The company's quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Chevron Corporation will post 15.23 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be issued a $1.78 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. Chevron's payout ratio is currently 123.40%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 272,624 shares of the business's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $189.35, for a total value of $51,621,354.40. Following the completion of the sale, the chief executive officer owned 31,266 shares in the company, valued at approximately $5,920,217.10. The trade was a 89.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hess sold 195,000 shares of the business's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $184.78, for a total transaction of $36,032,100.00. Following the completion of the sale, the director owned 658,045 shares of the company's stock, valued at approximately $121,593,555.10. This represents a 22.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 803,570 shares of company stock worth $151,969,798. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research analyst reports. Melius Research upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $205.00 price objective for the company in a report on Tuesday, February 17th. Bank of America lifted their price objective on shares of Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a report on Monday, March 2nd. UBS Group lifted their price objective on shares of Chevron from $218.00 to $220.00 and gave the company a "buy" rating in a report on Monday, May 4th. HSBC upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $215.00 price objective for the company in a report on Friday, March 20th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $190.00 price objective on shares of Chevron in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Chevron has a consensus rating of "Moderate Buy" and an average target price of $204.13.

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.

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