Chevron Corporation (NYSE:CVX) Stake Boosted by Ontario Teachers Pension Plan Board

Key Points

• The Ontario Teachers Pension Plan Board increased its position in Chevron by 48.1%, bringing its total holdings to 16,181 shares worth approximately $2.7 million.
• Chevron reported $1.77 EPS for the latest quarter, exceeding estimates, but also experienced a 12.4% decline in revenue year-over-year.
• Chevron's recent quarterly dividend of $1.71 per share yields 4.5%, with a payout ratio of 88.03%.

Ontario Teachers Pension Plan Board boosted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 48.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,181 shares of the oil and gas company's stock after acquiring an additional 5,257 shares during the period. Ontario Teachers Pension Plan Board's holdings in Chevron were worth $2,707,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CVX. CoreCap Advisors LLC grew its position in Chevron by 0.3% in the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock worth $4,091,000 after purchasing an additional 71 shares during the last quarter. Clayton Financial Group LLC boosted its position in shares of Chevron by 4.6% during the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock worth $285,000 after buying an additional 75 shares during the period. Gill Capital Partners LLC grew its holdings in Chevron by 4.9% in the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company's stock worth $271,000 after buying an additional 75 shares in the last quarter. Cordatus Wealth Management LLC increased its position in Chevron by 0.4% in the 1st quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company's stock valued at $3,299,000 after acquiring an additional 76 shares during the period. Finally, Requisite Capital Management LLC raised its stake in Chevron by 1.2% during the 1st quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company's stock valued at $1,064,000 after acquiring an additional 77 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVX has been the subject of several recent analyst reports. DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a research note on Tuesday, May 6th. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and dropped their price target for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, Mizuho lowered their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $164.11.

Chevron Trading Up 1.2%

Shares of Chevron stock traded up $1.82 during trading on Friday, hitting $154.98. The stock had a trading volume of 6,331,417 shares, compared to its average volume of 12,388,930. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a 50 day simple moving average of $148.08 and a 200 day simple moving average of $148.65. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $270.66 billion, a PE ratio of 19.95, a P/E/G ratio of 2.30 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.80%. The company's revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the business posted $2.55 EPS. On average, research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal 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 dividend of $1.71 per share. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron's dividend payout ratio (DPR) is presently 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.