AEGON ASSET MANAGEMENT UK Plc Has $17.78 Million Position in Chevron Co. (NYSE:CVX)

AEGON ASSET MANAGEMENT UK Plc lowered its holdings in Chevron Co. (NYSE:CVX - Free Report) by 42.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,191 shares of the oil and gas company's stock after selling 77,932 shares during the period. AEGON ASSET MANAGEMENT UK Plc's holdings in Chevron were worth $17,775,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVX. Geode Capital Management LLC lifted its stake in Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after acquiring an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock valued at $4,613,960,000 after acquiring an additional 746,806 shares in the last quarter. Norges Bank acquired a new position in shares of Chevron in the 4th quarter valued at about $3,017,750,000. Northern Trust Corp grew its position in Chevron by 7.3% during the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after purchasing an additional 1,394,091 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Chevron by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock valued at $2,881,280,000 after buying an additional 410,460 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 0.4%

CVX traded down $0.55 during trading on Thursday, reaching $136.82. 6,333,892 shares of the stock were exchanged, compared to its average volume of 8,112,390. The stock's 50 day moving average price is $140.16 and its two-hundred day moving average price is $150.11. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a market cap of $238.95 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the previous year, the company posted $2.93 EPS. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. Equities analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 5.00%. Chevron's dividend payout ratio (DPR) is currently 78.17%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Piper Sandler dropped their price target on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Redburn Atlantic reissued a "sell" rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. UBS Group cut their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. Finally, Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $160.24.

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.