Chevron Corporation $CVX Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. lessened its holdings in shares of Chevron Corporation (NYSE:CVX) by 18.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 238,566 shares of the oil and gas company’s stock after selling 53,369 shares during the period. Panagora Asset Management Inc.’s holdings in Chevron were worth $36,360,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Core Wealth Advisors LLC acquired a new position in Chevron during the fourth quarter worth approximately $26,000. Karpus Management Inc. acquired a new position in Chevron during the fourth quarter worth approximately $27,000. Quattro Advisors LLC acquired a new position in Chevron during the fourth quarter worth approximately $27,000. Strategic Wealth Advisors LLC acquired a new position in Chevron during the fourth quarter worth approximately $33,000. Finally, Daytona Street Capital LLC acquired a new position in Chevron during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Down 3.6%

NYSE:CVX opened at $180.49 on Tuesday. The firm has a market cap of $359.47 billion, a P/E ratio of 31.28, a PEG ratio of 0.61 and a beta of 0.48. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock’s 50 day simple moving average is $188.38 and its 200-day simple moving average is $178.49. Chevron Corporation has a 12-month low of $142.40 and a 12-month high of $214.71.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.18 earnings per share. Equities analysts anticipate that Chevron Corporation will post 15.88 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were issued a $1.78 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.9%. Chevron’s payout ratio is presently 123.40%.

Insider Buying and Selling

In other news, insider R. Hewitt Pate sold 40,200 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the transaction, the insider owned 8,638 shares of the company’s stock, valued at approximately $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 615,200 shares of company stock worth $118,022,760. Corporate insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Piper Sandler lifted their price target on Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Morgan Stanley lifted their price target on Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Sanford C. Bernstein cut their price target on Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a research report on Monday, May 11th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $216.00 price target on shares of Chevron in a research report on Wednesday, May 6th. Finally, Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target on the stock in a research report on Thursday, April 9th. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $205.70.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s long-term growth outlook could improve if its newly expanded asset base from the Hess acquisition and upcoming projects in Argentina boost production and cash generation. Chevron Stock Is an Absolute Steal at 11 Times Forward Earnings
• Positive Sentiment: Some analysts still view CVX as attractively valued and have price targets above the current share price, suggesting upside if oil stabilizes. Chevron (CVX) Stock Sinks As Market Gains: Here’s Why
• Neutral Sentiment: Commentary from Jim Cramer highlighted Chevron during broader geopolitical discussions, but it did not point to any company-specific catalyst. Jim Cramer Discusses Chevron During Presidential War Related Talks
• Neutral Sentiment: Chevron’s Argentina investment push could reshape its growth profile over time, but the market appears focused today on oil’s sharp decline rather than this longer-term development. Chevron’s Argentina Push Reshapes Growth Outlook And Risk Profile
• Negative Sentiment: Crude prices fell to three-month lows on the U.S.-Iran deal news, pressuring integrated oil producers like Chevron as investors reduced expectations for near-term upstream profits and free cash flow. Oil Prices Slump to 3-Month Lows, Exxon and Chevron Stocks Fall After U.S., Iran Deal
• Negative Sentiment: Multiple reports said Chevron fell alongside the broader energy sector because the market expects lower crude realizations if geopolitical supply risks ease. Oil Prices Slump to 3-Month Lows, Exxon and Chevron Stocks Fall After U.S., Iran Deal

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.