Charles Schwab Investment Management Inc. grew its position in shares of Chevron Co. (NYSE:CVX – Free Report) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,867,243 shares of the oil and gas company’s stock after acquiring an additional 199,759 shares during the quarter. Chevron comprises 1.1% of Charles Schwab Investment Management Inc.’s holdings, making the stock its 9th largest holding. Charles Schwab Investment Management Inc. owned 1.28% of Chevron worth $3,732,044,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Chevron by 100,509.4% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 426,861,553 shares of the oil and gas company’s stock worth $67,166,665,000 after purchasing an additional 426,437,277 shares during the last quarter. Morgan Stanley raised its position in Chevron by 12.7% in the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock valued at $5,906,309,000 after buying an additional 3,711,923 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Chevron by 104,997.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after acquiring an additional 24,467,521 shares during the last quarter. Norges Bank bought a new stake in shares of Chevron in the 4th quarter worth $3,058,235,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Chevron by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,844,054 shares of the oil and gas company’s stock valued at $2,421,958,000 after purchasing an additional 948,045 shares in the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
CVX has been the topic of a number of research analyst reports. Truist Financial cut their target price on Chevron from $175.00 to $169.00 and set a “hold” rating on the stock in a research note on Tuesday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Tuesday, October 24th. Morgan Stanley lowered their target price on Chevron from $203.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 17th. The Goldman Sachs Group upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $166.00 to $187.00 in a report on Monday, July 31st. Finally, UBS Group boosted their target price on shares of Chevron from $209.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $187.89.
Chevron Stock Performance
NYSE:CVX opened at $145.06 on Wednesday. The business’s fifty day moving average is $160.05 and its 200 day moving average is $158.59. The firm has a market cap of $273.84 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 0.74 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.97 and a current ratio of 1.25. Chevron Co. has a 52-week low of $141.73 and a 52-week high of $188.43.
Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $3.05 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($0.65). Chevron had a net margin of 12.11% and a return on equity of 16.15%. The company had revenue of $54.08 billion for the quarter, compared to the consensus estimate of $51.41 billion. During the same quarter in the prior year, the company earned $5.56 earnings per share. The company’s quarterly revenue was down 18.9% on a year-over-year basis. Research analysts predict that Chevron Co. will post 13.59 EPS for the current year.
Chevron Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 4.16%. The ex-dividend date is Thursday, November 16th. Chevron’s payout ratio is 44.84%.
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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
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