Associated Banc Corp Has $23.78 Million Stake in Chevron Co. (NYSE:CVX)

Associated Banc Corp lifted its position in shares of Chevron Co. (NYSE:CVX) by 0.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 161,492 shares of the oil and gas company’s stock after purchasing an additional 785 shares during the quarter. Associated Banc Corp’s holdings in Chevron were worth $23,783,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of Chevron by 19,404.1% in the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after purchasing an additional 4,876,260 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in Chevron by 15,750.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after buying an additional 3,876,731 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Chevron by 949.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock worth $562,566,000 after buying an additional 3,456,008 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Chevron by 55.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after acquiring an additional 3,048,819 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CVX. Royal Bank of Canada raised their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Scotiabank cut their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Finally, Mizuho reduced their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Trading Up 0.4 %

CVX traded up $0.60 during trading on Monday, reaching $162.96. 476,845 shares of the stock traded hands, compared to its average volume of 7,618,627. The stock’s 50-day moving average is $151.58 and its 200 day moving average is $152.55. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $292.85 billion, a PE ratio of 17.84, a P/E/G ratio of 3.58 and a beta of 1.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter last year, the firm posted $3.05 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. Equities analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.00%. Chevron’s payout ratio is presently 71.65%.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.