8,767,716 Shares in Chevron Corporation (NYSE:CVX) Bought by GQG Partners LLC

GQG Partners LLC acquired a new position in Chevron Corporation (NYSE:CVX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,767,716 shares of the oil and gas company's stock, valued at approximately $1,466,751,000. Chevron accounts for approximately 2.3% of GQG Partners LLC's portfolio, making the stock its 15th largest holding. GQG Partners LLC owned about 0.50% of Chevron at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CVX. Harvest Fund Management Co. Ltd grew its holdings in shares of Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 122 shares during the period. 10Elms LLP bought a new stake in shares of Chevron in the fourth quarter worth $29,000. Navigoe LLC bought a new stake in shares of Chevron in the fourth quarter worth $33,000. IFS Advisors LLC grew its holdings in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after acquiring an additional 116 shares during the period. Finally, Cloud Capital Management LLC bought a new stake in shares of Chevron in the first quarter worth $39,000. Institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

CVX has been the subject of several research analyst reports. Mizuho cut their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. TD Cowen boosted their price target on Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a report on Monday, August 4th. Redburn Atlantic reissued a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. BNP Paribas lowered Chevron to a "cautious" rating in a report on Tuesday, April 15th. Finally, DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $164.11.

Chevron Stock Performance

NYSE CVX opened at $154.38 on Wednesday. The firm has a market cap of $266.77 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 2.30 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. The business has a 50-day moving average price of $149.07 and a 200-day moving average price of $148.55. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

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

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron's dividend payout ratio is 88.03%.

Chevron 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.

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