Chevron Corporation $CVX Shares Acquired by Epoch Investment Partners Inc.

Key Points

• Epoch Investment Partners Inc. raised its stock position in Chevron Corporation by 3.8%, acquiring an additional 18,369 shares, bringing its total holdings to 497,651 shares valued at $83.25 million.
• Chevron plans to pay a quarterly dividend of $1.71 on September 10th, translating to an annualized yield of 4.3% for shareholders.
• The company's latest earnings report revealed $1.77 earnings per share, surpassing the estimate of $1.58, even though revenue decreased by 12.4% year-over-year.

Epoch Investment Partners Inc. increased its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 497,651 shares of the oil and gas company's stock after acquiring an additional 18,369 shares during the period. Epoch Investment Partners Inc.'s holdings in Chevron were worth $83,252,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. GQG Partners LLC acquired a new stake in shares of Chevron during the 1st quarter worth approximately $1,466,751,000. Nuveen LLC purchased a new stake in Chevron during the first quarter worth $1,362,232,000. GAMMA Investing LLC grew its position in Chevron by 21,191.5% during the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after buying an additional 5,382,847 shares during the period. Charles Schwab Investment Management Inc. grew its position in Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock valued at $5,592,263,000 after buying an additional 1,574,464 shares during the period. Finally, Northern Trust Corp increased its holdings in Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after buying an additional 1,394,091 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

CVX traded up $0.05 on Thursday, reaching $159.29. 6,501,985 shares of the company's stock were exchanged, compared to its average volume of 8,245,963. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a market cap of $275.26 billion, a PE ratio of 18.69, a P/E/G ratio of 2.36 and a beta of 0.87. 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 stock's fifty day moving average price is $151.84 and its 200-day moving average price is $148.78.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business's revenue was down 12.4% on a year-over-year basis. During the same period last year, the company posted $2.55 EPS. Sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. Chevron's payout ratio is 88.03%.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. 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 upped their price target on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a report on Monday, August 4th. Raymond James Financial reiterated an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. Barclays restated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $163.95.

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.