Chevron Corporation $CVX Shares Acquired by AlphaQuest LLC

Key Points

• AlphaQuest LLC dramatically increased its holdings in Chevron Corporation by 1,593,600%, owning 15,937 shares worth approximately $2.67 million as of the latest SEC filing.
• The consensus price target for Chevron is currently $163.95, with a mix of ratings: eleven analysts rated it as a Buy, eight as a Hold, and three as a Sell.
• Chevron announced a quarterly dividend of $1.71 per share, reflecting a 4.4% dividend yield, with an 88.03% payout ratio.

AlphaQuest LLC increased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 1,593,600.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,937 shares of the oil and gas company's stock after purchasing an additional 15,936 shares during the quarter. AlphaQuest LLC's holdings in Chevron were worth $2,666,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd raised its holdings in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 122 shares during the last quarter. 10Elms LLP purchased a new position in Chevron during the fourth quarter worth $29,000. Elequin Capital LP purchased a new position in Chevron during the first quarter worth $31,000. Navigoe LLC purchased a new position in Chevron during the fourth quarter worth $33,000. Finally, IFS Advisors LLC increased its position in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after buying an additional 116 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVX has been the subject of several recent research reports. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Mizuho dropped their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Raymond James Financial reaffirmed an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. TD Cowen lifted their price objective on Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research report on Monday, August 4th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $163.95.

Chevron Price Performance

Shares of NYSE CVX opened at $155.1660 on Friday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The business has a 50-day moving average of $150.97 and a 200-day moving average of $148.63. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The company has a market capitalization of $268.13 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 2.27 and a beta of 0.87.

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

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 payout ratio is 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.

Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Corporation (NYSE:CVX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.