DNB Asset Management AS Grows Holdings in Chevron Corporation $CVX

DNB Asset Management AS boosted its holdings in Chevron Corporation (NYSE:CVX) by 28.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 495,232 shares of the oil and gas company’s stock after purchasing an additional 108,267 shares during the period. DNB Asset Management AS’s holdings in Chevron were worth $76,905,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Quaker Wealth Management LLC increased its stake in shares of Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after buying an additional 439 shares during the last quarter. Decker Retirement Planning Inc. bought a new stake in shares of Chevron in the 3rd quarter valued at approximately $34,000. Vermillion & White Wealth Management Group LLC raised its holdings in shares of Chevron by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 118 shares during the period. Marquette Asset Management LLC bought a new position in Chevron in the third quarter worth about $41,000. Finally, Barnes Dennig Private Wealth Management LLC boosted its position in Chevron by 306.1% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 202 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Freedom Capital lowered shares of Chevron from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. Jefferies Financial Group raised their target price on Chevron from $174.00 to $189.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. HSBC lowered Chevron from a “buy” rating to a “hold” rating and set a $180.00 price target for the company. in a research report on Monday, February 2nd. Scotiabank reiterated a “sector perform” rating and issued a $168.00 price objective on shares of Chevron in a report on Friday, January 16th. Finally, Zacks Research raised Chevron from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 23rd. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $176.36.

Insider Buying and Selling

In other news, Vice Chairman Mark A. Nelson sold 45,800 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $174.17, for a total transaction of $7,976,986.00. Following the completion of the sale, the insider directly owned 7,161 shares of the company’s stock, valued at $1,247,231.37. This trade represents a 86.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael K. Wirth sold 320,700 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $162.99, for a total value of $52,270,893.00. Following the completion of the transaction, the chief executive officer owned 14,450 shares in the company, valued at $2,355,205.50. This represents a 95.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 534,898 shares of company stock worth $89,543,711. Insiders own 0.21% of the company’s stock.

Chevron Trading Down 0.1%

NYSE CVX opened at $184.07 on Friday. The stock has a market cap of $367.29 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 12.19 and a beta of 0.70. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $187.90. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15. The firm’s 50 day moving average price is $168.75 and its two-hundred day moving average price is $159.34.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.08. The firm had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The business’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.06 EPS. Equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be issued a dividend of $1.78 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, February 17th. Chevron’s dividend payout ratio is 106.91%.

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.