AEGON ASSET MANAGEMENT UK Plc Lowers Stock Position in Chevron Corporation $CVX

AEGON ASSET MANAGEMENT UK Plc cut its stake in shares of Chevron Corporation (NYSE:CVX) by 2.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 152,287 shares of the oil and gas company’s stock after selling 4,204 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Chevron were worth $23,205,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. acquired a new position in Chevron during the third quarter worth $34,000. Marquette Asset Management LLC acquired a new stake in shares of Chevron in the third quarter valued at about $41,000. Barnes Dennig Private Wealth Management LLC raised its position in shares of Chevron by 306.1% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 268 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 202 shares during the last quarter. Daytona Street Capital LLC acquired a new stake in shares of Chevron in the fourth quarter valued at about $44,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in shares of Chevron in the third quarter valued at about $49,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Vice Chairman Mark A. Nelson sold 139,600 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the completion of the transaction, the insider owned 11,337 shares of the company’s stock, valued at approximately $2,130,449.04. This trade represents a 92.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider R. Hewitt Pate sold 58,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $188.65, for a total transaction of $10,941,700.00. Following the completion of the transaction, the insider directly owned 8,558 shares of the company’s stock, valued at approximately $1,614,466.70. The trade was a 87.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 779,407 shares of company stock valued at $145,972,971. 0.56% of the stock is owned by company insiders.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wheatstone LNG has fully resumed production after cyclone repairs, restoring expected cash flow from the Australian LNG asset and removing a short-term production drag. Chevron resumes full production at Wheatstone LNG after repairs for cyclone damage
• Positive Sentiment: Chevron says it reached an asset-swap agreement that expands its stake in Venezuelan heavy oil operations — a move that could lift reserves and long-term production potential if implemented. Chevron Corporation (CVX) Expands Stakes in Venezuela Oil Operations
• Positive Sentiment: Warren Buffett’s ongoing stake and commentary on Chevron continue to be cited as a vote of confidence for long-term investors, supporting sentiment versus peers. Deepening Growth Pipeline Sustains Warren Buffett’s Confidence In Chevron (CVX)
• Positive Sentiment: Zacks has highlighted Chevron as a Bull of the Day and it’s included in lists of high-flying “old economy” stocks with room to run — analyst attention can help prop up demand in a pullback. Chevron and Avis Budget have been highlighted as Zacks Bull and Bear of the Day
• Neutral Sentiment: Chevron is a trending stock with increased retail and analyst attention; that raises liquidity and volatility but is ambivalent for direction without fresh catalysts. Chevron Corporation (CVX) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Venezuelan partner Suelopetrol says it was not informed of Chevron’s reported expansion — a public dispute that raises execution, legal and geopolitical risk around the asset-swap and could delay realization of the announced upside. Suelopetrol says it has not been Informed of Chevron’s (CVX) Expansion at Venezuela Joint Venture
• Negative Sentiment: Zacks preview flags an expected decline in Q1 earnings, which raises the risk of a disappointing release and near-term downside if results or guidance miss. Earnings Preview: Chevron (CVX) Q1 Earnings Expected to Decline
• Negative Sentiment: After a strong YTD rally, articles note a month-long cooldown and profit-taking in big oil names; that broader flow explains part of today’s pullback even without company-specific bad news. Exxon Stock and Chevron Stock Are Up 20%+ YTD – Why the Long Oil Trade Is Stalling Out

Chevron Trading Down 1.3%

Shares of CVX opened at $185.13 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $368.82 billion, a P/E ratio of 27.80, a P/E/G ratio of 0.79 and a beta of 0.60. The firm has a 50-day moving average price of $192.56 and a 200 day moving average price of $170.16. Chevron Corporation has a 12-month low of $133.77 and a 12-month high of $214.71.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.08. The company had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. Chevron’s revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.06 earnings per share. Sell-side analysts forecast that Chevron Corporation will post 12.49 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were paid a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. 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 3.8%. Chevron’s payout ratio is 106.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Melius Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research report on Tuesday, February 17th. BNP Paribas Exane upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price for the company in a research report on Friday, April 17th. BMO Capital Markets reiterated an “outperform” rating and issued a $190.00 target price on shares of Chevron in a research report on Monday, February 2nd. Morgan Stanley increased their target price on shares of Chevron from $174.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, March 27th. Finally, JPMorgan Chase & Co. upgraded shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 target price for the company in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.09.

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.