National Pension Service Purchases 41,216 Shares of Chevron Corporation (NYSE:CVX)

Key Points

• The National Pension Service increased its stake in Chevron Corporation (NYSE:CVX) by 1.3%, owning approximately 3.3 million shares valued at $556.75 million as of the latest SEC filing.
• Chevron's stock has a current price target consensus of $164.11, with eleven analysts rating it as a "buy." However, HSBC downgraded it to a "hold" with a price target of $158.
• The company recently announced a quarterly dividend of $1.71 per share, reflecting an annual yield of 4.4% and a payout ratio of 88.03%.

National Pension Service lifted its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,328,072 shares of the oil and gas company's stock after purchasing an additional 41,216 shares during the quarter. National Pension Service owned 0.19% of Chevron worth $556,753,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Sage Capital Advisors llc grew its position in Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after buying an additional 919 shares in the last quarter. CCG Wealth Management LLC grew its position in Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock worth $1,060,000 after buying an additional 145 shares in the last quarter. Ignite Planners LLC boosted its holdings in shares of Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock worth $2,060,000 after purchasing an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. boosted its holdings in shares of Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock worth $993,000 after purchasing an additional 495 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Chevron by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock worth $24,075,000 after purchasing an additional 675 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barclays reiterated an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Mizuho cut their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. HSBC cut Chevron from a "buy" rating to a "hold" rating and cut their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Morgan Stanley assumed coverage on Chevron in a report on Monday, August 4th. They issued an "overweight" rating and a $174.00 price objective for the company. Finally, UBS Group reiterated a "buy" rating and issued a $186.00 price objective (up from $177.00) on shares of Chevron in a report on Monday, August 4th. Three 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 stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $164.11.

Chevron Trading Down 0.3%

CVX traded down $0.42 during midday trading on Thursday, reaching $155.45. 7,327,280 shares of the company's stock traded hands, compared to its average volume of 9,372,618. The firm has a fifty day moving average of $149.43 and a two-hundred day moving average of $148.60. The stock has a market capitalization of $268.62 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 2.31 and a beta of 0.87. 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 Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion during 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 quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.55 EPS. On average, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company 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 $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron's dividend payout ratio is currently 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.