Assenagon Asset Management S.A. Sells 4,020,236 Shares of Chevron Corporation $CVX

Assenagon Asset Management S.A. decreased its holdings in Chevron Corporation (NYSE:CVX) by 78.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,128,520 shares of the oil and gas company’s stock after selling 4,020,236 shares during the period. Assenagon Asset Management S.A.’s holdings in Chevron were worth $187,063,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. United Bank increased its stake in Chevron by 7.7% in the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock worth $1,586,000 after buying an additional 796 shares during the period. Schnieders Capital Management LLC. boosted its position in 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 buying an additional 4,214 shares during the period. BNP Paribas grew its stake in Chevron by 76.4% in the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 191 shares in the last quarter. Osterweis Capital Management Inc. grew its stake in 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 worth $195,000 after acquiring an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its position in shares of Chevron by 3.6% during the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after acquiring an additional 553 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CVX shares. Weiss Ratings downgraded shares of Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. UBS Group restated a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. TD Cowen lifted their target price on Chevron from $200.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, BNP Paribas Exane raised 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. Eighteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.48.

Chevron Trading Up 1.4%

NYSE CVX opened at $189.00 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The company has a market capitalization of $376.40 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 0.57 and a beta of 0.49. The company’s 50-day simple moving average is $182.29 and its two-hundred day simple moving average is $185.80. Chevron Corporation has a one year low of $146.49 and a one year high of $214.71.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.14%. The firm had revenue of $67.20 billion during the quarter, compared to analysts’ expectations of $62.72 billion. During the same quarter in the prior year, the company earned $1.77 EPS. The company’s revenue was up 57.4% compared to the same quarter last year. Equities analysts forecast that Chevron Corporation will post 15.88 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. Chevron’s payout ratio is 68.26%.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 710,665 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the completion of the sale, the director owned 363,711 shares in the company, valued at $70,596,305.10. This represents a 66.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 1,190,665 shares of company stock valued at $230,782,076 over the last ninety days. Insiders own 0.56% of the company’s stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Major profit rebound: Chevron reported approximately $12.1 billion in quarterly net income, versus $2.5 billion a year earlier. Results benefited from higher energy prices and supply disruptions linked to the Iran conflict, highlighting the company’s ability to generate cash during periods of market volatility. Chevron Turned $3.1 Billion Loss Into A Gain In One Quarter Amid Heightened Volatility During Iran War
• Positive Sentiment: Operational and financial improvements: Recent coverage points to record production, billions of dollars in debt reduction and a 20-year power agreement with Microsoft for artificial-intelligence infrastructure. These developments strengthen Chevron’s long-term growth profile and balance sheet. Wall Street Is Bullish on Chevron Stock
• Positive Sentiment: TD Cowen raised its Chevron price target from $200 to $205 while maintaining a Hold rating. Chevron is also being highlighted as a cash-flow and dividend-focused energy investment, which may appeal to income-oriented investors. Beyond Oil Prices: The Case for 3 Dividend-Paying Energy Giants
• Neutral Sentiment: Chevron is expanding its North American base-oils distribution network through new partnerships, potentially improving downstream reach and product mix over time. Chevron Broadens North American Base Oils Distribution Network
• Negative Sentiment: Political criticism is increasing as President Trump accuses Chevron and other oil companies of profiting excessively while U.S. gasoline prices rise. This creates potential regulatory, reputational or windfall-tax risks. Trump Rips Exxon and Chevron for Making Too Much Money
• Negative Sentiment: Director John B. Hess sold roughly 810,665 shares worth about $157 million, substantially reducing his holdings. Although insider sales can be planned for personal reasons, the transaction may weigh on investor sentiment.

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.