Fisher Asset Management LLC Purchases 319,859 Shares of Chevron Corporation $CVX

Fisher Asset Management LLC increased its position in Chevron Corporation (NYSE:CVX) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,471,919 shares of the oil and gas company’s stock after acquiring an additional 319,859 shares during the quarter. Chevron comprises about 1.1% of Fisher Asset Management LLC’s holdings, making the stock its 25th biggest holding. Fisher Asset Management LLC’s holdings in Chevron were worth $3,272,535,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Choate Investment Advisors boosted its position in shares of Chevron by 9.8% in the fourth quarter. Choate Investment Advisors now owns 34,538 shares of the oil and gas company’s stock valued at $5,264,000 after acquiring an additional 3,069 shares during the period. Sandy Cove Advisors LLC boosted its position in shares of Chevron by 11.3% in the fourth quarter. Sandy Cove Advisors LLC now owns 2,691 shares of the oil and gas company’s stock valued at $410,000 after acquiring an additional 274 shares during the period. 44 Wealth Management LLC boosted its position in shares of Chevron by 19.0% in the fourth quarter. 44 Wealth Management LLC now owns 12,751 shares of the oil and gas company’s stock valued at $1,943,000 after acquiring an additional 2,032 shares during the period. CYBER HORNET ETFs LLC boosted its position in shares of Chevron by 5.1% in the fourth quarter. CYBER HORNET ETFs LLC now owns 5,774 shares of the oil and gas company’s stock valued at $880,000 after acquiring an additional 282 shares during the period. Finally, Clearstead Advisors LLC boosted its position in shares of Chevron by 4.8% in the fourth quarter. Clearstead Advisors LLC now owns 170,540 shares of the oil and gas company’s stock valued at $25,992,000 after acquiring an additional 7,764 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. UBS Group raised their target price on shares of Chevron from $218.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, May 4th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $216.00 target price on shares of Chevron in a research note on Wednesday, May 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Chevron in a research note on Tuesday, May 5th. Zacks Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 3rd. Finally, Citigroup raised their target price on shares of Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. One investment 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $204.22.

Insider Activity

In other Chevron news, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the transaction, the insider directly owned 11,337 shares of the company’s stock, valued at approximately $2,130,449.04. This trade represents a 92.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the transaction, the director directly owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,179,699 shares of company stock valued at $224,675,517. Insiders own 0.56% of the company’s stock.

More Chevron News

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

Chevron Trading Up 0.0%

Shares of CVX opened at $191.51 on Monday. The firm’s 50 day simple moving average is $193.54 and its 200 day simple moving average is $174.75. The company has a market capitalization 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 company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.84. Chevron Corporation has a 1-year low of $134.06 and a 1-year high of $214.71.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $2.18 earnings per share. Sell-side analysts forecast that Chevron Corporation will post 15.74 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.7%. Chevron’s dividend payout ratio (DPR) 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.