Chevron Corporation $CVX Shares Sold by Associated Banc Corp

Associated Banc Corp reduced its stake in Chevron Corporation (NYSE:CVX) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 158,736 shares of the oil and gas company’s stock after selling 5,211 shares during the period. Associated Banc Corp’s holdings in Chevron were worth $24,193,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. D.B. Root & Company LLC increased its stake in Chevron by 1.0% in the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after buying an additional 57 shares during the period. Cornerstone Planning Group LLC grew its position in Chevron by 6.8% in the 4th quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company’s stock worth $142,000 after purchasing an additional 59 shares during the last quarter. MMA Asset Management LLC lifted its holdings in shares of Chevron by 3.4% during the 4th quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company’s stock worth $277,000 after acquiring an additional 59 shares during the period. EWA LLC lifted its holdings in shares of Chevron by 2.8% during the 4th quarter. EWA LLC now owns 2,182 shares of the oil and gas company’s stock worth $333,000 after acquiring an additional 59 shares during the period. Finally, Barlow Wealth Partners LLC lifted its holdings in shares of Chevron by 1.1% during the 4th quarter. Barlow Wealth Partners LLC now owns 5,363 shares of the oil and gas company’s stock worth $869,000 after acquiring an additional 60 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: WTI crude above $95 per barrel is lifting Permian oil and associated gas economics, which should be a tailwind for Chevron’s upstream earnings and cash flow. More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Positive Sentiment: Morgan Stanley raised its price target on Chevron to $214 from $212 and reiterated an overweight rating, signaling continued Wall Street confidence in the stock’s upside. Benzinga / The Fly analyst update
• Positive Sentiment: Chevron’s planned participation in a Bernstein conference next week keeps investor attention on management commentary and strategic updates. Chevron to Participate in Fireside Q&A at Bernstein 42nd Annual Strategic Decisions Conference
• Positive Sentiment: Chevron’s new next-generation Techron gasoline additive may help support brand strength and retail fuel performance over time. Chevron Introduces Next-gen Techron in U.S. Chevron and Texaco Gasolines
• Positive Sentiment: Chevron stands to receive about $2.17 billion from the sale of several Asia Pacific refining and retail assets to Eneos, which supports balance-sheet flexibility and portfolio simplification. Chevron Corporation (CVX) Poised for $2.17B Boost from Asia Pacific Asset Sale

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CVX shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Chevron in a report on Tuesday, May 5th. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Morgan Stanley boosted their target price on shares of Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a research note on Friday. Bank of America boosted their target price on shares of Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Finally, Mizuho boosted their target price on shares of Chevron from $206.00 to $217.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned 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 target price of $204.22.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 272,624 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $189.35, for a total value of $51,621,354.40. Following the transaction, the chief executive officer directly owned 31,266 shares in the company, valued at $5,920,217.10. The trade was a 89.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R. Hewitt Pate sold 40,200 shares of the company’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the completion of the transaction, the insider owned 8,638 shares in the company, valued at $1,842,485.40. This trade represents a 82.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,179,699 shares of company stock valued at $224,675,517. 0.56% of the stock is owned by corporate insiders.

Chevron Stock Up 0.3%

Shares of NYSE CVX opened at $191.51 on Friday. The stock has a market cap of $381.42 billion, a P/E ratio of 33.19, a P/E/G ratio of 0.64 and a beta of 0.51. The firm has a 50 day moving average price of $193.54 and a 200 day moving average price of $174.60. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron Corporation has a 52-week low of $134.06 and a 52-week high of $214.71.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the previous year, the firm posted $2.18 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. Analysts expect that Chevron Corporation will post 15.43 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared 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. This represents a $7.12 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.

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.