ING Groep NV Decreases Stock Position in Chevron Corporation (NYSE:CVX)

ING Groep NV decreased its stake in Chevron Corporation (NYSE:CVX - Free Report) by 95.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,145 shares of the oil and gas company's stock after selling 190,853 shares during the period. ING Groep NV's holdings in Chevron were worth $1,697,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Harvest Fund Management Co. Ltd grew its stake in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 122 shares during the period. 10Elms LLP acquired a new stake in Chevron during the fourth quarter worth approximately $29,000. Navigoe LLC acquired a new stake in Chevron during the fourth quarter worth approximately $33,000. IFS Advisors LLC grew its stake in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 116 shares during the period. Finally, Cloud Capital Management LLC acquired a new stake in Chevron during the first quarter worth approximately $39,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVX. Evercore ISI reaffirmed an "outperform" rating and set a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Morgan Stanley initiated coverage on Chevron in a report on Monday, August 4th. They issued an "overweight" rating and a $174.00 price target on the stock. Wells Fargo & Company reiterated an "overweight" rating and issued a $178.00 price target on shares of Chevron in a report on Friday, August 1st. DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. Finally, Scotiabank reiterated a "sector perform" rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. 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. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $164.11.

Chevron Stock Up 1.2%

Shares of CVX stock traded up $1.82 during trading hours on Friday, reaching $154.98. The company had a trading volume of 6,331,417 shares, compared to its average volume of 12,388,930. 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 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The business has a fifty day simple moving average of $148.45 and a 200-day simple moving average of $148.58. The company has a market cap of $270.66 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 2.32 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.80% 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 period last year, the company posted $2.55 earnings per share. On average, research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is 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.