Aberdeen Group plc Increases Stake in Chevron Corporation (NYSE:CVX)

Aberdeen Group plc boosted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 83.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 856,947 shares of the oil and gas company's stock after purchasing an additional 389,684 shares during the quarter. Aberdeen Group plc's holdings in Chevron were worth $144,049,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CVX. Harvest Fund Management Co. Ltd boosted its holdings in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 122 shares during the last quarter. 10Elms LLP purchased a new stake in shares of Chevron during the 4th quarter valued at about $29,000. IFS Advisors LLC boosted its holdings in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after acquiring an additional 116 shares during the last quarter. Navigoe LLC purchased a new stake in shares of Chevron during the 4th quarter valued at about $33,000. Finally, Cloud Capital Management LLC purchased a new stake in shares of Chevron during the 1st quarter valued at about $39,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

NYSE CVX opened at $155.45 on Friday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a market cap of $268.62 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 2.34 and a beta of 0.87. The company's 50 day moving average is $149.80 and its two-hundred day moving average is $148.59. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

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

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron's dividend payout ratio (DPR) is presently 88.03%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CVX shares. Redburn Atlantic reaffirmed 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. Mizuho lowered their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Piper Sandler reiterated an "overweight" rating on shares of Chevron in a research note on Tuesday, July 15th. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Finally, UBS Group reiterated a "buy" rating and issued a $186.00 price objective (up previously from $177.00) on shares of Chevron in a research note on Monday, August 4th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $164.11.

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.

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