Fideuram Intesa Sanpaolo Private Banking S.P.A. Purchases Shares of 84,156 Chevron Corporation $CVX

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Chevron Corporation (NYSE:CVX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 84,156 shares of the oil and gas company’s stock, valued at approximately $12,826,000.

A number of other large investors have also made changes to their positions in the company. D.B. Root & Company LLC grew its stake in shares of Chevron by 1.0% during 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 purchasing an additional 57 shares during the period. Cornerstone Planning Group LLC grew its stake in shares of Chevron by 6.8% during the 4th quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company’s stock valued at $142,000 after purchasing an additional 59 shares during the period. MMA Asset Management LLC grew its stake 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 valued at $277,000 after purchasing an additional 59 shares during the period. EWA LLC grew its stake 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 valued at $333,000 after purchasing an additional 59 shares during the period. Finally, Barlow Wealth Partners LLC grew its stake 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 valued at $869,000 after purchasing an additional 60 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wall Street commentary has turned more upbeat on Chevron, with Zacks noting rising earnings estimate revisions and arguing that CVX could keep moving higher in the near term. Article Title
• Positive Sentiment: Chevron was highlighted as a long-term blue-chip idea, reinforcing the view that the company remains attractive for dividend and energy investors. Article Title
• Positive Sentiment: Chevron also drew unusually heavy call-option buying, suggesting traders are positioning for more upside in the near term. Article Title
• Positive Sentiment: Chevron agreed to sell a stake in its Asia-Pacific refining business to Japan’s Eneos for $2.2 billion, a move that can help streamline operations and raise cash. Article Title
• Neutral Sentiment: Several articles framed Chevron as a stock to watch or a “hold” at current levels, which does not point to a major fundamental surprise but helps explain continued investor focus. Article Title
• Neutral Sentiment: Coverage around Berkshire Hathaway trimming its Chevron stake created headlines, but the broader message was that Berkshire still appears committed to the company despite the sale. Article Title
• Negative Sentiment: Buffett-related reports that Berkshire Hathaway sold the largest chunk of Chevron in its Q1 stock trimming campaign may create some pressure, since investors often read Berkshire’s moves as a cautionary signal. Article Title

Chevron Stock Up 0.6%

CVX stock opened at $197.38 on Wednesday. Chevron Corporation has a twelve month low of $133.77 and a twelve month high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock has a market cap of $393.11 billion, a P/E ratio of 34.21, a PEG ratio of 0.66 and a beta of 0.51. The business’s 50-day moving average price is $193.41 and its 200-day moving average price is $173.98.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. During the same period in the previous year, the firm earned $2.18 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Chevron Corporation will post 15.43 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, May 19th. Chevron’s payout ratio is presently 123.40%.

Insider Buying and Selling

In related news, insider Andrew Benjamin Walz sold 11,600 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $188.58, for a total value of $2,187,528.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 11,337 shares in the company, valued at approximately $2,130,449.04. This represents a 92.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 799,699 shares of company stock worth $151,259,517 in the last quarter. 0.56% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CVX shares. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Sanford C. Bernstein cut their price target on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research note on Monday, May 11th. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a research note on Friday, March 20th. BMO Capital Markets reaffirmed an “outperform” rating and set a $190.00 price objective on shares of Chevron in a research report on Monday, February 2nd. Finally, Mizuho lifted their price objective on Chevron from $206.00 to $217.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $204.13.

Chevron 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.