Chevron Co. (NYSE:CVX) Holdings Increased by Czech National Bank

Czech National Bank raised its stake in shares of Chevron Co. (NYSE:CVX - Free Report) by 5.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 383,870 shares of the oil and gas company's stock after acquiring an additional 21,512 shares during the quarter. Chevron makes up 0.6% of Czech National Bank's portfolio, making the stock its 24th biggest position. Czech National Bank's holdings in Chevron were worth $64,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in CVX. Norges Bank bought a new position in Chevron during the 4th quarter valued at $3,017,750,000. Raymond James Financial Inc. bought a new position in Chevron during the 4th quarter valued at $1,036,302,000. GAMMA Investing LLC boosted its stake in Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after acquiring an additional 5,382,847 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Chevron by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock valued at $2,389,380,000 after acquiring an additional 2,432,756 shares during the last quarter. Finally, Amundi boosted its stake in Chevron by 27.7% during the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock valued at $1,323,549,000 after acquiring an additional 1,910,262 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on CVX shares. Mizuho reduced their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Royal Bank of Canada restated an "outperform" rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Piper Sandler reduced their price target on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Finally, HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and reduced their price target for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of "Hold" and an average price target of $160.24.

Chevron Stock Performance

NYSE:CVX traded up $1.10 during mid-day trading on Monday, hitting $137.80. The stock had a trading volume of 9,074,640 shares, compared to its average volume of 8,109,900. The stock has a market capitalization of $240.64 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a 50 day simple moving average of $141.88 and a 200-day simple moving average of $150.44. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. Chevron's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $2.93 EPS. On average, research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.96%. Chevron's dividend payout ratio (DPR) is 78.17%.

About Chevron

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.