Schnieders Capital Management LLC Has $7.80 Million Stock Position in Chevron Corporation (NYSE:CVX)

Key Points

• Schnieders Capital Management LLC increased its stake in Chevron Corporation by 3.8%, owning 46,625 shares valued at approximately $7.8 million.
• Chevron's latest earnings report showed an EPS of $1.77, exceeding analysts' expectations, with a revenue of $44.82 billion but a year-over-year decline of 12.4%.
• The company declared a quarterly dividend of $1.71 per share, reflecting an annualized yield of 4.5% and a payout ratio of 88.03%.

Schnieders Capital Management LLC lifted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,625 shares of the oil and gas company's stock after purchasing an additional 1,720 shares during the period. Chevron accounts for approximately 1.7% of Schnieders Capital Management LLC's holdings, making the stock its 17th largest holding. Schnieders Capital Management LLC's holdings in Chevron were worth $7,800,000 as of its most recent SEC filing.

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

Chevron Stock Performance

Chevron stock traded up $0.33 during mid-day trading on Thursday, hitting $153.11. 6,508,513 shares of the company's stock traded hands, compared to its average volume of 12,483,338. 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 firm has a 50 day simple moving average of $148.08 and a two-hundred day simple moving average of $148.65. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a market cap of $267.40 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 2.29 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.80%. Chevron's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.55 EPS. On average, research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 dividend yield of 4.5%. The ex-dividend date is Tuesday, August 19th. Chevron's payout ratio is currently 88.03%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of research reports. Piper Sandler reiterated an "overweight" rating on shares of Chevron in a report on Tuesday, July 15th. Scotiabank reiterated a "sector perform" rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Wells Fargo & Company reissued an "overweight" rating and issued a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, DZ Bank cut shares of 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. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $164.11.

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.