American Century Companies Inc. Has $351.15 Million Stock Holdings in Chevron Corporation (NYSE:CVX)

Key Points

• American Century Companies Inc. increased its stake in Chevron Corporation by 10.2%, owning 2,099,039 shares valued at approximately $351.15 million as of the latest SEC filing.
• Chevron reported $1.77 earnings per share (EPS) for the most recent quarter, exceeding analyst expectations, and had revenue of $44.82 billion, down 12.4% from the previous year.
• The company announced a quarterly dividend of $1.71 per share, resulting in an annualized dividend of $6.84 and a dividend yield of 4.4%.

American Century Companies Inc. lifted its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 10.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,099,039 shares of the oil and gas company's stock after buying an additional 193,574 shares during the quarter. American Century Companies Inc. owned about 0.12% of Chevron worth $351,149,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Harvest Fund Management Co. Ltd increased its holdings in Chevron by 420.7% in 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 buying an additional 122 shares during the period. 10Elms LLP acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $29,000. IFS Advisors LLC boosted its stake in shares of Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares in the last quarter. Navigoe LLC acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $33,000. Finally, Cloud Capital Management LLC acquired a new stake in Chevron during the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Performance

Shares of CVX stock 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 company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $268.62 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87. The firm has a fifty day simple moving average of $149.80 and a two-hundred day simple moving average of $148.59.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the business posted $2.55 EPS. The business's revenue was down 12.4% compared to the same quarter last year. Analysts forecast 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. Stockholders of record on Tuesday, August 19th will be paid a $1.71 dividend. 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 is presently 88.03%.

Analyst Ratings Changes

CVX has been the topic of several recent research reports. Scotiabank reiterated a "sector perform" rating and set a $160.00 target price (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. TD Cowen lifted their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research report on Monday, August 4th. Raymond James Financial restated an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. UBS Group restated a "buy" rating and issued a $186.00 price target (up previously from $177.00) on shares of Chevron in a research report on Monday, August 4th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Chevron currently has a consensus rating of "Hold" and a consensus price target of $164.11.

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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