AQR Capital Management LLC Has $90.08 Million Stock Holdings in Chevron Corporation $CVX

Key Points

• AQR Capital Management LLC increased its stake in Chevron Corporation by 21.1%, acquiring an additional 93,891 shares, bringing its total holdings to 538,471 shares valued at approximately $90.1 million.
• Chevron has announced a quarterly dividend of $1.71, representing a 4.3% yield based on an annualized total of $6.84, with a dividend payout ratio of 88.03%.
• Chevron's recent quarterly earnings report showed $1.77 earnings per share, surpassing expectations and revealing a revenue of $44.82 billion, despite a 12.4% decline compared to the same quarter last year.

AQR Capital Management LLC grew its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 21.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 538,471 shares of the oil and gas company's stock after purchasing an additional 93,891 shares during the period. AQR Capital Management LLC's holdings in Chevron were worth $90,081,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GDS Wealth Management grew its position in shares of Chevron by 4.4% during the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company's stock worth $285,000 after buying an additional 72 shares during the period. AIMZ Investment Advisors LLC grew its position in shares of Chevron by 4.2% during the 1st quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company's stock valued at $298,000 after acquiring an additional 72 shares during the period. Clayton Financial Group LLC boosted its position in shares of Chevron by 4.6% during the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock valued at $285,000 after acquiring an additional 75 shares during the last quarter. Gill Capital Partners LLC lifted its position in Chevron by 4.9% in the first quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company's stock valued at $271,000 after purchasing an additional 75 shares during the last quarter. Finally, Cordatus Wealth Management LLC boosted its holdings in Chevron by 0.4% in the first quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company's stock worth $3,299,000 after acquiring an additional 76 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Piper Sandler raised their price objective on Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Morgan Stanley began coverage on Chevron in a research report on Monday, August 4th. They set an "overweight" rating and a $174.00 price objective for the company. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. UBS Group increased their target price on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Finally, Barclays reiterated an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $163.95.

Insider Activity

In related news, Director John B. Hess sold 375,000 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Chevron Price Performance

NYSE CVX traded up $0.18 on Monday, reaching $153.84. 4,262,979 shares of the company's stock traded hands, compared to its average volume of 9,267,719. The stock has a 50-day simple moving average of $153.69 and a 200 day simple moving average of $148.80. 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 $265.83 billion, a PE ratio of 19.80, a P/E/G ratio of 2.28 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

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

Chevron Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's dividend payout ratio is 88.03%.

Chevron Company 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.