Fideuram Asset Management Ireland dac Buys Shares of 33,312 Chevron Corporation $CVX

Fideuram Asset Management Ireland dac bought a new stake in shares of Chevron Corporation (NYSE:CVX) during the fourth quarter, HoldingsChannel reports. The fund bought 33,312 shares of the oil and gas company’s stock, valued at approximately $5,142,000.

A number of other large investors have also recently bought and sold shares of CVX. Strategic Wealth Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at $33,000. Daytona Street Capital LLC acquired a new stake in Chevron during the 4th quarter valued at $44,000. Maseco LLP acquired a new stake in Chevron during the 4th quarter valued at $49,000. Turning Point Benefit Group Inc. acquired a new stake in Chevron during the 3rd quarter valued at $49,000. Finally, High Point Wealth Management LLC acquired a new stake in Chevron during the 4th quarter valued at $53,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron CEO Mike Wirth said oil prices could rise further if Middle East tensions continue to disrupt supply, with the Strait of Hormuz blockade reducing global barrels and tightening market “shock absorbers.” Higher oil prices typically improve upstream earnings for Chevron. Chevron CEO Wirth warns oil prices likely to rise as Iran war hits supplies
• Positive Sentiment: Chevron filed to take control of an offshore Greek gas block, expanding its Mediterranean footprint and adding another potential long-term gas growth avenue. Chevron files request to acquire offshore Greek block, energy ministry says
• Positive Sentiment: Chevron also highlighted stronger gas demand linked to data-center power needs, reinforcing the company’s outlook for natural gas as a key growth driver. Chevron Highlights Stronger Coal Consumption Outlook
• Neutral Sentiment: Chevron shareholders rejected a proposal to separate the board chair and CEO roles, which removes one governance overhang but is unlikely to be a major near-term stock driver. Chevron shareholders reject proposal that requires independent board chair separate from CEO role
• Neutral Sentiment: A proposed U.S. bill to temporarily cut fuel taxes could affect gasoline demand and pricing dynamics for Chevron, but it is only a proposal and not yet law. New Bill: Representative Anna Paulina Luna introduces H.R. 8795: American Families Gas Tax Relief Act

Chevron Trading Up 0.5%

Shares of CVX opened at $183.24 on Friday. 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 firm has a market capitalization of $364.93 billion, a P/E ratio of 31.76, a price-to-earnings-growth ratio of 0.60 and a beta of 0.51. The stock’s fifty day simple moving average is $192.60 and its 200 day simple moving average is $175.64. Chevron Corporation has a twelve month low of $135.21 and a twelve month high of $214.71.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. During the same period last year, the company posted $2.18 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts forecast that Chevron Corporation will post 15.74 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 $1.78 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.9%. Chevron’s dividend payout ratio (DPR) is 123.40%.

Insider Buying and Selling

In other Chevron news, Vice Chairman Mark A. Nelson sold 139,600 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $187.92, for a total value of $26,233,632.00. Following the transaction, the insider directly owned 11,337 shares of the company’s stock, valued at $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 is available through this hyperlink. Also, CEO Michael K. Wirth sold 272,624 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 31,266 shares in the company, valued at $5,920,217.10. This trade represents a 89.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,144,224 shares of company stock valued at $218,075,038 over the last ninety days. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of a number of analyst reports. Sanford C. Bernstein lowered their target price on Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. Piper Sandler increased their target price on Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. BNP Paribas Exane raised Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price target on the stock in a research note on Friday, April 17th. Zacks Research raised Chevron from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 3rd. Finally, Bank of America increased their price target on Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.70.

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.