Chevron Corporation $CVX Shares Acquired by Czech National Bank

Key Points

• The Czech National Bank increased its stake in Chevron Corporation by 3.4%, owning a total of 396,970 shares worth approximately $56.8 million as of the latest SEC filing.
• Chevron reported a quarterly earnings per share of $1.77, surpassing analysts' expectations and showing a 12.4% decline in year-over-year revenue.
• The company recently declared a quarterly dividend of $1.71, reflecting a 4.3% yield with a dividend payout ratio of 88.03%.

Czech National Bank lifted its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 396,970 shares of the oil and gas company's stock after purchasing an additional 13,100 shares during the period. Czech National Bank's holdings in Chevron were worth $56,842,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. Harvest Fund Management Co. Ltd raised its position in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after buying an additional 122 shares during the period. 10Elms LLP purchased a new stake in shares of Chevron during the 4th quarter valued at approximately $29,000. Elequin Capital LP purchased a new stake in shares of Chevron during the 1st quarter valued at approximately $31,000. IFS Advisors LLC raised its position in shares of Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after buying an additional 116 shares during the period. Finally, Cloud Capital Management LLC purchased a new stake in shares of Chevron during the 1st quarter valued at approximately $39,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 1.4%

Shares of CVX stock traded up $2.25 on Tuesday, reaching $159.56. 8,008,054 shares of the stock were exchanged, compared to its average volume of 7,495,309. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The business's 50 day moving average price is $155.00 and its 200 day moving average price is $148.86. The company has a market capitalization of $275.72 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.97 and a beta of 0.90. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its 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 firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company's revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.55 earnings per share. As a group, sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. Chevron's payout ratio is presently 88.03%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVX. Barclays reissued an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Raymond James Financial reissued an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. Piper Sandler boosted their target price on Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. TD Cowen boosted their target price on Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research report on Monday, August 4th. Finally, 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. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $165.05.

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.