American Investment Services Inc. Increases Stock Holdings in Chevron Corporation $CVX

Key Points

• American Investment Services Inc. increased its holdings in Chevron Corporation by 22.9%, acquiring an additional 8,151 shares in the first quarter, bringing its total to 43,783 shares valued at approximately $7.3 million.
• Chemical and oil giant Chevron recently reported earnings per share of $1.77 for the quarter, surpassing expectations, with a deep decline in revenue by 12.4% year-over-year to $44.82 billion.
• The company's recently announced quarterly dividend of $1.71 reflects a 4.4% yield and a dividend payout ratio of 88.03%, showcasing strong shareholder returns despite revenue fluctuations.

American Investment Services Inc. grew its position in Chevron Corporation (NYSE:CVX - Free Report) by 22.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,783 shares of the oil and gas company's stock after buying an additional 8,151 shares during the period. Chevron accounts for about 1.3% of American Investment Services Inc.'s portfolio, making the stock its 23rd largest position. American Investment Services Inc.'s holdings in Chevron were worth $7,324,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CVX. United Capital Management of KS Inc. increased its holdings in shares of Chevron by 12.7% during the 1st quarter. United Capital Management of KS Inc. now owns 40,006 shares of the oil and gas company's stock valued at $6,693,000 after purchasing an additional 4,505 shares in the last quarter. Gen Wealth Partners Inc lifted its stake in shares of Chevron by 6.2% in the 1st quarter. Gen Wealth Partners Inc now owns 11,752 shares of the oil and gas company's stock valued at $1,966,000 after purchasing an additional 688 shares during the period. Redmond Asset Management LLC lifted its stake in shares of Chevron by 6.8% in the 1st quarter. Redmond Asset Management LLC now owns 23,601 shares of the oil and gas company's stock valued at $3,948,000 after purchasing an additional 1,506 shares during the period. American Century Companies Inc. lifted its stake in shares of Chevron by 10.2% in the 1st quarter. American Century Companies Inc. now owns 2,099,039 shares of the oil and gas company's stock valued at $351,149,000 after purchasing an additional 193,574 shares during the period. Finally, Ethic Inc. lifted its stake in shares of Chevron by 23.3% in the 1st quarter. Ethic Inc. now owns 27,929 shares of the oil and gas company's stock valued at $4,706,000 after purchasing an additional 5,283 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on CVX. Mizuho reduced their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Evercore ISI restated an "outperform" rating and set a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research report on Tuesday, May 6th. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. 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, the company presently has a consensus rating of "Hold" and a consensus price target of $164.33.

Chevron Stock Down 0.7%

Shares of CVX traded down $1.11 during mid-day trading on Monday, hitting $155.44. 8,133,674 shares of the company's stock were exchanged, compared to its average volume of 9,379,081. The company has a market cap of $268.60 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 2.35 and a beta of 0.87. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The stock's 50-day moving average is $150.13 and its 200-day moving average is $148.49.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly 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. The business had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business's quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.55 earnings per share. On average, sell-side analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron's dividend payout ratio (DPR) 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.