Chevron Corporation $CVX Shares Bought by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH increased its holdings in Chevron by 33.4% in the first quarter, owning 36,331 shares valued at approximately $6.08 million.
• Chevron's stock has an average rating of "Hold," with a consensus price target of $163.95, as various analysts provide mixed ratings on the company's shares.
• The company announced a quarterly dividend of $1.71 per share, representing an annualized dividend yield of 4.5%.

Erste Asset Management GmbH grew its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 33.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 36,331 shares of the oil and gas company's stock after acquiring an additional 9,102 shares during the quarter. Erste Asset Management GmbH's holdings in Chevron were worth $6,083,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd boosted its position in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 122 shares during the period. 10Elms LLP acquired a new position in Chevron during the 4th quarter worth $29,000. Elequin Capital LP acquired a new position in Chevron during the 1st quarter worth $31,000. Navigoe LLC acquired a new position in Chevron during the 4th quarter worth $33,000. Finally, IFS Advisors LLC boosted its position in Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after acquiring an additional 116 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

CVX has been the subject of several research analyst reports. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Morgan Stanley initiated coverage on Chevron in a report on Monday, August 4th. They issued an "overweight" rating and a $174.00 price objective for the company. Evercore ISI restated an "outperform" rating and issued a $180.00 price objective on shares of Chevron in a report on Thursday, July 31st. HSBC lowered Chevron from a "buy" rating to a "hold" rating and cut their price objective for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, Redburn Atlantic restated a "sell" rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $163.95.

Chevron Stock Up 0.6%

Shares of Chevron stock opened at $152.8990 on Thursday. The stock's fifty day moving average is $150.76 and its 200-day moving average is $148.59. The firm has a market capitalization of $264.21 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 2.25 and a beta of 0.87. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.55 earnings per share. Equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron's payout ratio 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.

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