Quantitative Investment Management LLC Invests $10.16 Million in Chevron Corporation $CVX

Key Points

• Quantitative Investment Management LLC acquired 60,708 shares of Chevron Corporation, valued at approximately $10.15 million, making it the company's 21st largest holding.
• Chevron reported an earnings per share (EPS) of $1.77 for the last quarter, surpassing analysts' expectations, although its revenue decreased by 12.4% year-over-year.
• The company announced a quarterly dividend of $1.71 per share, with a yield of 4.3%, set to be paid on September 10th.

Quantitative Investment Management LLC bought a new stake in Chevron Corporation (NYSE:CVX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 60,708 shares of the oil and gas company's stock, valued at approximately $10,155,000. Chevron accounts for about 0.9% of Quantitative Investment Management LLC's portfolio, making the stock its 21st biggest position.

Several other institutional investors also recently added to or reduced their stakes in the stock. Eagle Capital Management LLC grew its holdings in shares of Chevron by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after purchasing an additional 242 shares during the period. Bank Pictet & Cie Europe AG lifted its position in Chevron by 7.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after buying an additional 2,641 shares during the last quarter. Nebula Research & Development LLC lifted its position in shares of Chevron by 127.8% during the fourth quarter. Nebula Research & Development LLC now owns 9,208 shares of the oil and gas company's stock worth $1,334,000 after purchasing an additional 5,165 shares in the last quarter. Voya Financial Advisors Inc. lifted its position in shares of Chevron by 2.8% during the fourth quarter. Voya Financial Advisors Inc. now owns 4,841 shares of the oil and gas company's stock worth $693,000 after purchasing an additional 134 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Chevron during the fourth quarter worth about $16,955,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Chevron Trading Down 0.3%

NYSE CVX traded down $0.55 on Thursday, reaching $158.70. The company had a trading volume of 2,133,819 shares, compared to its average volume of 9,287,527. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock's 50 day moving average is $151.84 and its 200-day moving average is $148.78. The stock has a market cap of $274.22 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 2.33 and a beta of 0.87. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period last year, the company earned $2.55 earnings per share. Chevron's quarterly revenue was down 12.4% on a year-over-year basis. Equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. Chevron's dividend payout ratio is currently 88.03%.

Insider Activity

In other news, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVX. Morgan Stanley started coverage on shares of Chevron in a research report on Monday, August 4th. They issued an "overweight" rating and a $174.00 price objective on the stock. Melius assumed coverage on Chevron in a research note on Wednesday, August 20th. They set a "hold" rating and a $155.00 target price for the company. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a report on Tuesday, May 6th. Finally, Mizuho decreased their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $163.95.

Chevron Company Profile

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.