Dimensional Fund Advisors LP Increases Stock Position in Chevron Corporation (NYSE:CVX)

Key Points

• Dimensional Fund Advisors LP increased its stake in Chevron Corporation by 0.3%, owning over 12 million shares valued at approximately $2.05 billion.
• Chevron reported earnings per share (EPS) of $1.77 for the last quarter, exceeding analyst expectations of $1.58, despite a 12.4% decrease in revenue year-over-year.
• The company announced a quarterly dividend of $1.71 per share, resulting in an annualized dividend yield of 4.4% with a payout ratio of 88.03%.

Dimensional Fund Advisors LP increased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 0.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,281,983 shares of the oil and gas company's stock after purchasing an additional 40,758 shares during the period. Chevron makes up 0.5% of Dimensional Fund Advisors LP's portfolio, making the stock its 16th largest holding. Dimensional Fund Advisors LP owned about 0.70% of Chevron worth $2,054,513,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Sage Capital Advisors llc raised its holdings in shares of Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after purchasing an additional 919 shares in the last quarter. CCG Wealth Management LLC raised its holdings in shares of Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after purchasing an additional 145 shares in the last quarter. Ignite Planners LLC raised its holdings in shares of Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock valued at $2,060,000 after purchasing an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. raised its holdings in shares of Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock valued at $993,000 after purchasing an additional 495 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Chevron by 0.5% in the 1st 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 purchasing an additional 675 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CVX. Morgan Stanley began coverage on shares of Chevron in a report on Monday, August 4th. They issued an "overweight" rating and a $174.00 price target for the company. Redburn Atlantic reiterated a "sell" rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. TD Cowen boosted their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research note on Monday, August 4th. Finally, DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research note on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Chevron presently has an average rating of "Hold" and a consensus target price of $164.11.

Chevron Stock Performance

NYSE:CVX traded up $1.36 during trading hours on Friday, hitting $156.52. 11,613,242 shares of the company were exchanged, compared to its average volume of 11,908,853. The stock has a market capitalization of $270.46 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 2.35 and a beta of 0.87. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The company's 50 day moving average price is $150.13 and its 200-day moving average price is $148.54.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion for 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 business's revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.55 EPS. As a group, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm 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 $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's dividend payout ratio is 88.03%.

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.