Foster & Motley Inc. Raises Holdings in Chevron Corporation (NYSE:CVX)

Key Points

• Foster & Motley Inc. increased its stake in Chevron Corporation by 8.5%, acquiring 1,996 additional shares to reach a total of 25,407 shares valued at approximately $4.25 million.
• Chevron reported earnings of $2.18 per share, exceeding analyst expectations, but its revenue of $47.61 billion fell short of the consensus estimate.
• The company recently declared a quarterly dividend of $1.71 per share, representing an annualized dividend yield of 4.35% and a payout ratio of 78.17%.

Foster & Motley Inc. increased its stake in Chevron Corporation (NYSE:CVX - Free Report) by 8.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,407 shares of the oil and gas company's stock after acquiring an additional 1,996 shares during the period. Foster & Motley Inc.'s holdings in Chevron were worth $4,250,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Chevron by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after acquiring an additional 392,916 shares during the period. Northern Trust Corp grew its position in shares of Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after buying an additional 1,394,091 shares during the period. Ameriprise Financial Inc. grew its position in shares of Chevron by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock worth $2,421,564,000 after buying an additional 211,023 shares during the period. Invesco Ltd. boosted its stake in Chevron by 6.9% during the 4th quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company's stock worth $2,176,579,000 after acquiring an additional 964,426 shares during the last quarter. Finally, Capital World Investors boosted its stake in Chevron by 11.4% during the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock worth $2,039,288,000 after acquiring an additional 1,440,808 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Down 0.2%

NYSE:CVX traded down $0.31 on Friday, reaching $151.33. The company's stock had a trading volume of 10,704,924 shares, compared to its average volume of 9,498,295. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. 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 firm has a market cap of $264.28 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 2.42 and a beta of 0.83. The stock has a 50 day moving average price of $146.57 and a 200 day moving average price of $148.90.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. During the same period in the previous year, the firm posted $2.55 earnings per share. The company's revenue was down 12.4% on a year-over-year basis. On average, equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Analyst Ratings Changes

CVX has been the topic of a number of research reports. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $178.00 price target on shares of Chevron in a research note on Friday. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Evercore ISI reaffirmed an "outperform" rating and set a $180.00 price objective on shares of Chevron in a research report on Thursday. Finally, Piper Sandler reissued an "overweight" rating on shares of Chevron in a report on Tuesday, July 15th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $163.18.

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.