DNB Asset Management AS Raises Stock Position in Chevron Corporation $CVX

DNB Asset Management AS lifted its position in Chevron Corporation (NYSE:CVX) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 512,875 shares of the oil and gas company’s stock after buying an additional 17,643 shares during the period. DNB Asset Management AS’s holdings in Chevron were worth $78,167,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CVX. United Bank grew its position in Chevron by 7.7% during the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after purchasing an additional 796 shares during the last quarter. Schnieders Capital Management LLC. boosted its holdings in shares of Chevron by 9.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock valued at $7,280,000 after acquiring an additional 4,214 shares during the last quarter. BNP Paribas boosted its holdings in shares of Chevron by 76.4% in the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 191 shares during the last quarter. Osterweis Capital Management Inc. boosted its holdings in shares of Chevron by 678.9% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock valued at $195,000 after acquiring an additional 1,188 shares during the last quarter. Finally, Main Street Financial Solutions LLC boosted its holdings in shares of Chevron by 3.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock valued at $2,299,000 after acquiring an additional 553 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

CVX opened at $190.91 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. The firm has a fifty day moving average price of $193.14 and a 200 day moving average price of $173.26. Chevron Corporation has a 1 year low of $133.77 and a 1 year high of $214.71. The stock 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.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (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 firm had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same period in the previous year, the business posted $2.18 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that Chevron Corporation will post 15.23 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be given a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. Chevron’s dividend payout ratio is currently 123.40%.

Chevron News Roundup

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

Analyst Upgrades and Downgrades

CVX has been the topic of several recent research reports. Zacks Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a report on Friday, April 3rd. Scotiabank upped their price objective on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $190.00 target price on shares of Chevron in a research note on Monday, February 2nd. Citigroup boosted their target price on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Finally, Sanford C. Bernstein decreased their target price on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $204.13.

Insider Activity at Chevron

In other Chevron news, insider R. Hewitt Pate sold 58,000 shares of the company’s stock in a transaction 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 in the company, valued at approximately $1,614,466.70. This represents a 87.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John B. Hess sold 195,000 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $184.78, for a total transaction of $36,032,100.00. Following the transaction, the director owned 658,045 shares of the company’s stock, valued at $121,593,555.10. This represents a 22.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 803,570 shares of company stock valued at $151,969,798 in the last three months. Company insiders own 0.56% of the company’s stock.

About Chevron

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.