Entropy Technologies LP Purchases Shares of 25,762 Chevron Corporation (NYSE:CVX)

Key Points

• Entropy Technologies LP has acquired a new stake in Chevron Corporation, purchasing 25,762 shares valued at approximately $4.31 million in the first quarter.
• Chevron announced a quarterly dividend of $1.71 per share, reflecting an annualized yield of 4.4%, with a payout ratio of 88.03%.
• Chevron's stock currently holds a consensus rating of "Hold" from analysts, with an average price target of $164.11.

Entropy Technologies LP purchased a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 25,762 shares of the oil and gas company's stock, valued at approximately $4,310,000.

Several other large investors have also added to or reduced their stakes in the business. Eagle Capital Management LLC lifted its position in 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 valued at $5,011,000 after acquiring an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in 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 valued at $5,212,000 after buying an additional 2,641 shares during the last quarter. Jaffetilchin Investment Partners LLC lifted its stake in Chevron by 74.9% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 11,058 shares of the oil and gas company's stock valued at $1,602,000 after acquiring an additional 4,734 shares in the last quarter. Petros Family Wealth LLC purchased a new position in Chevron during the 4th quarter worth $228,000. Finally, Qtron Investments LLC grew its stake in shares of Chevron by 2.0% in the 4th quarter. Qtron Investments LLC now owns 16,454 shares of the oil and gas company's stock worth $2,383,000 after acquiring an additional 315 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Price Performance

Shares of Chevron stock traded down $1.00 on Thursday, hitting $154.87. 4,671,669 shares of the company traded hands, compared to its average volume of 9,354,650. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. 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 company has a market cap of $267.61 billion, a P/E ratio of 19.94, a P/E/G ratio of 2.31 and a beta of 0.87. The firm's 50-day simple moving average is $149.43 and its 200 day simple moving average is $148.60.

Chevron (NYSE:CVX - Get Free Report) last announced 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 firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%. The company's revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.55 EPS. Analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently weighed in on CVX shares. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Scotiabank reiterated a "sector perform" rating and set a $160.00 price target (up from $143.00) on shares of Chevron in a report on Friday, July 11th. UBS Group restated a "buy" rating and issued a $186.00 price objective (up previously from $177.00) on shares of Chevron in a research note on Monday, August 4th. Raymond James Financial reiterated an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Finally, Mizuho reduced their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Chevron currently has an average rating of "Hold" and an average price target of $164.11.

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.