Aigen Investment Management LP Purchases Shares of 5,969 Chevron Corporation (NYSE:CVX)

Key Points

• Aigen Investment Management LP has acquired 5,969 shares of Chevron Corporation, totaling approximately $999,000.
• Chevron has recently declared a quarterly dividend of $1.71, with a yield of 4.4% and a payout ratio of 88.03%.
• The stock currently holds a consensus rating of "Hold" with a target price of $164.11, according to various analysts.

Aigen Investment Management LP acquired a new stake in Chevron Corporation (NYSE:CVX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,969 shares of the oil and gas company's stock, valued at approximately $999,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock valued at $5,592,263,000 after acquiring an additional 1,574,464 shares during the last quarter. Northern Trust Corp grew its stake in Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after purchasing an additional 1,394,091 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Chevron by 1.3% in the fourth quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock worth $2,421,564,000 after purchasing an additional 211,023 shares in the last quarter. Invesco Ltd. grew its stake in Chevron by 5.5% in the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company's stock worth $2,652,437,000 after purchasing an additional 827,851 shares in the last quarter. Finally, Capital World Investors grew its stake in Chevron by 11.4% in the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock worth $2,039,288,000 after purchasing an additional 1,440,808 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a report on Friday, July 18th. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Piper Sandler restated an "overweight" rating on shares of Chevron in a research report on Tuesday, July 15th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $164.11.

Chevron Stock Performance

CVX stock traded up $0.93 during trading on Tuesday, reaching $154.38. 6,641,283 shares of the company's stock were exchanged, compared to its average volume of 12,062,080. The firm has a market cap of $266.77 billion, a PE ratio of 19.87, a P/E/G ratio of 2.30 and a beta of 0.87. The company's fifty day moving average price is $149.07 and its 200-day moving average price is $148.55. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. 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 for the quarter, topping the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company'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. On average, research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Tuesday, August 19th. 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.