Chevron Corporation (NYSE:CVX) Stock Position Boosted by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Chevron Corporation by 4.9% in Q1, owning approximately 33.43 million shares, making Chevron its 10th largest position.
• Chevron reported a quarterly EPS of $1.77, exceeding expectations, despite a 12.4% decline in revenue year-over-year.
• The company declared a quarterly dividend of $1.71, representing an annual yield of 4.5% with a payout ratio of 88.03%.

Charles Schwab Investment Management Inc. lifted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 4.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 33,430,030 shares of the oil and gas company's stock after purchasing an additional 1,574,464 shares during the quarter. Chevron comprises approximately 1.0% of Charles Schwab Investment Management Inc.'s holdings, making the stock its 10th largest holding. Charles Schwab Investment Management Inc. owned approximately 1.90% of Chevron worth $5,592,263,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sage Capital Advisors llc lifted its stake in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after acquiring an additional 919 shares in the last quarter. CCG Wealth Management LLC raised its stake in shares of Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after acquiring an additional 145 shares in the last quarter. Ignite Planners LLC raised its stake in shares of Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock valued at $2,060,000 after acquiring an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. grew its holdings in Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock valued at $993,000 after buying an additional 495 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in Chevron by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after buying an additional 675 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a report on Tuesday, May 6th. Evercore ISI reaffirmed an "outperform" rating and set a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. Morgan Stanley started coverage on Chevron in a research note on Monday. They set an "overweight" rating and a $174.00 price objective for the company. TD Cowen boosted their target price on Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research note on Monday. Finally, Scotiabank reissued a "sector perform" rating and issued a $160.00 target price (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron currently has an average rating of "Hold" and an average price target of $164.11.

Chevron Price Performance

Shares of Chevron stock traded up $1.82 during trading hours on Friday, reaching $154.98. The company's stock had a trading volume of 6,331,417 shares, compared to its average volume of 12,388,930. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The stock has a market cap of $270.66 billion, a P/E ratio of 19.95, a P/E/G ratio of 2.30 and a beta of 0.87. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a 50 day moving average price of $148.08 and a 200-day moving average price of $148.65.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.80%. Chevron's revenue for the quarter 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, analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date is Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is currently 88.03%.

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.