Knuff & Co LLC Boosts Position in Chevron Corporation $CVX

Key Points

• Knuff & Co LLC increased its Chevron Corporation stock holdings by **13.8%**, owning a total of **19,008 shares valued at $3.18 million** after purchasing additional shares in the first quarter.
• Chevron recently reported a quarterly earnings per share (EPS) of **$1.77**, exceeding estimates, but its revenue was down **12.4%** year-over-year, totaling **$44.82 billion**.
• The company declared a quarterly dividend of **$1.71**, resulting in an annualized dividend yield of **4.4%**, with a dividend payout ratio of **88.03%**.

Knuff & Co LLC increased its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 13.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,008 shares of the oil and gas company's stock after acquiring an additional 2,298 shares during the quarter. Chevron makes up 1.1% of Knuff & Co LLC's investment portfolio, making the stock its 25th largest position. Knuff & Co LLC's holdings in Chevron were worth $3,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Eagle Capital Management LLC grew its position in shares of Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after buying an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after buying an additional 2,641 shares during the last quarter. Marshall Wace LLP grew its position in shares of Chevron by 236,330.0% in the 4th quarter. Marshall Wace LLP now owns 236,430 shares of the oil and gas company's stock worth $34,245,000 after buying an additional 236,330 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Chevron by 107.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 784,196 shares of the oil and gas company's stock valued at $113,583,000 after purchasing an additional 405,411 shares in the last quarter. Finally, Alpha DNA Investment Management LLC boosted its position in shares of Chevron by 2.3% during the fourth quarter. Alpha DNA Investment Management LLC now owns 6,716 shares of the oil and gas company's stock valued at $973,000 after purchasing an additional 152 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CVX shares. Piper Sandler restated an "overweight" rating and set a $168.00 price target (up from $164.00) on shares of Chevron in a research report on Monday. Evercore ISI restated an "outperform" rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Redburn Atlantic restated a "sell" rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Raymond James Financial restated an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. Finally, Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Three 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 MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $164.33.

Chevron Stock Down 0.7%

Shares of CVX stock traded down $1.11 during mid-day trading on Monday, hitting $155.44. The company's stock had a trading volume of 8,167,489 shares, compared to its average volume of 10,200,574. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The business has a 50-day moving average price of $150.42 and a 200 day moving average price of $148.53. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The stock has a market cap of $268.60 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 2.35 and a beta of 0.87.

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

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be given 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 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.