Credit Agricole S A Increases Stock Position in Chevron Corporation $CVX

Key Points

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Credit Agricole S A increased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 80.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 489,127 shares of the oil and gas company's stock after buying an additional 218,333 shares during the quarter. Credit Agricole S A's holdings in Chevron were worth $81,826,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. 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 purchasing an additional 122 shares during the last quarter. 10Elms LLP acquired a new stake in Chevron in the 4th quarter valued at approximately $29,000. Elequin Capital LP acquired a new stake in Chevron in the 1st quarter valued at approximately $31,000. Navigoe LLC acquired a new stake in Chevron in the 4th quarter valued at approximately $33,000. Finally, IFS Advisors LLC increased its holdings in 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 during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Melius assumed coverage on shares of Chevron in a report on Wednesday. They issued a "hold" rating and a $155.00 target price for the company. Mizuho dropped their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Raymond James Financial restated an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Finally, Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $163.95.

Chevron Stock Up 1.5%

Shares of Chevron stock traded up $2.3470 during trading on Friday, hitting $157.8970. 9,080,229 shares of the stock were exchanged, compared to its average volume of 8,166,027. The stock has a market cap of $272.84 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 2.31 and a beta of 0.87. The firm's 50-day moving average price is $151.21 and its 200 day moving average price is $148.66. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. 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 released its quarterly earnings data 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 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 9.90%. The company's revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.55 EPS. As a group, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business 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 $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. 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.