Fideuram Asset Management Ireland dac Takes $5.14 Million Position in Chevron Corporation $CVX

Key Points

• Fideuram Asset Management Ireland dac opened a new position in Chevron during the fourth quarter, buying 33,312 shares valued at about $5.14 million.
• Chevron continues to attract institutional interest, with 72.42% of its stock owned by hedge funds and other institutions, while several smaller investors also recently initiated positions.
• Analysts remain broadly positive on Chevron, with a Moderate Buy consensus and an average price target of $205.70; recent earnings also beat EPS expectations, and the company reaffirmed a quarterly dividend of $1.78 per share.

Fideuram Asset Management Ireland dac bought a new stake in Chevron Corporation (NYSE:CVX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 33,312 shares of the oil and gas company's stock, valued at approximately $5,142,000.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. Strategic Wealth Advisors LLC acquired a new position in Chevron in the 4th quarter valued at about $33,000. Daytona Street Capital LLC acquired a new position in Chevron in the 4th quarter valued at about $44,000. Maseco LLP acquired a new position in Chevron in the 4th quarter valued at about $49,000. Turning Point Benefit Group Inc. acquired a new position in Chevron in the 3rd quarter valued at about $49,000. Finally, High Point Wealth Management LLC acquired a new position in Chevron in the 4th quarter valued at about $53,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVX. Royal Bank Of Canada restated an "outperform" rating and issued a $220.00 price target on shares of Chevron in a research report on Tuesday, May 5th. Argus set a $203.00 price target on Chevron in a research report on Tuesday, February 3rd. Melius Research upgraded Chevron from a "hold" rating to a "buy" rating and set a $205.00 target price on the stock in a research report on Tuesday, February 17th. Scotiabank boosted their target price on Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Finally, Citigroup boosted their target price on Chevron from $210.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Chevron has a consensus rating of "Moderate Buy" and an average price target of $205.70.

Chevron Stock Performance

NYSE CVX opened at $183.24 on Friday. The stock has a market capitalization of $364.93 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 0.60 and a beta of 0.51. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The business's 50 day moving average is $192.60 and its two-hundred day moving average is $175.64. Chevron Corporation has a 12-month low of $135.21 and a 12-month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analysts' expectations of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.18 EPS. Research analysts expect that Chevron Corporation will post 15.74 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors 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 dividend on an annualized basis and a dividend yield of 3.9%. Chevron's dividend payout ratio is currently 123.40%.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron CEO Mike Wirth said oil prices could rise further if Middle East tensions continue to disrupt supply, with the Strait of Hormuz blockade reducing global barrels and tightening market “shock absorbers.” Higher oil prices typically improve upstream earnings for Chevron. Chevron CEO Wirth warns oil prices likely to rise as Iran war hits supplies
• Positive Sentiment: Chevron filed to take control of an offshore Greek gas block, expanding its Mediterranean footprint and adding another potential long-term gas growth avenue. Chevron files request to acquire offshore Greek block, energy ministry says
• Positive Sentiment: Chevron also highlighted stronger gas demand linked to data-center power needs, reinforcing the company’s outlook for natural gas as a key growth driver. Chevron Highlights Stronger Coal Consumption Outlook
• Neutral Sentiment: Chevron shareholders rejected a proposal to separate the board chair and CEO roles, which removes one governance overhang but is unlikely to be a major near-term stock driver. Chevron shareholders reject proposal that requires independent board chair separate from CEO role
• Neutral Sentiment: A proposed U.S. bill to temporarily cut fuel taxes could affect gasoline demand and pricing dynamics for Chevron, but it is only a proposal and not yet law. New Bill: Representative Anna Paulina Luna introduces H.R. 8795: American Families Gas Tax Relief Act

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 272,624 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the sale, the chief executive officer owned 31,266 shares in the company, valued at $5,920,217.10. This represents a 89.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of the company's stock in a transaction that occurred on 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 owned 8,638 shares in the company, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,144,224 shares of company stock worth $218,075,038. 0.56% of the stock is owned by insiders.

Chevron Company 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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