Assenagon Asset Management S.A. Has $83.81 Million Stock Position in Chevron Co. (NYSE:CVX)

Assenagon Asset Management S.A. decreased its holdings in Chevron Co. (NYSE:CVX - Free Report) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 561,880 shares of the oil and gas company's stock after selling 41,680 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Chevron were worth $83,810,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Picton Mahoney Asset Management bought a new stake in Chevron in the 3rd quarter worth about $26,000. Valley Forge Investment Consultants Inc. ADV grew its stake in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 80 shares during the period. DHJJ Financial Advisors Ltd. bought a new stake in shares of Chevron during the 3rd quarter valued at about $35,000. Valued Wealth Advisors LLC bought a new stake in shares of Chevron during the 4th quarter valued at about $33,000. Finally, Worth Asset Management LLC purchased a new position in shares of Chevron during the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

NYSE CVX traded up $1.82 during trading on Monday, hitting $156.48. The company's stock had a trading volume of 6,057,630 shares, compared to its average volume of 8,846,055. The firm has a market cap of $290.63 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $172.88. The firm has a 50 day moving average price of $150.92 and a 200 day moving average price of $152.80.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping analysts' consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same quarter in the previous year, the firm earned $4.09 earnings per share. The business's revenue was down 16.5% on a year-over-year basis. Equities research analysts forecast that Chevron Co. will post 13.04 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. This is an increase from Chevron's previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron's dividend payout ratio is 57.39%.

Wall Street Analyst Weigh In

CVX has been the topic of several recent research reports. Jefferies Financial Group raised Chevron from a "hold" rating to a "buy" rating and set a $184.00 price objective on the stock in a report on Monday, January 8th. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and set a $170.00 price target on the stock. in a research report on Tuesday, January 16th. UBS Group dropped their price target on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Thursday, December 14th. DZ Bank cut Chevron from a "buy" rating to a "hold" rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. Finally, Piper Sandler cut their price objective on Chevron from $188.00 to $180.00 and set an "overweight" rating on the stock in a report on Thursday, March 14th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $180.39.

Chevron 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.