Evergreen Capital Management LLC Increases Stock Holdings in Chevron Corporation $CVX

Key Points

• Evergreen Capital Management LLC increased its stake in Chevron Corporation by 4.8% in the 1st quarter, owning a total of 40,217 shares worth approximately $6.73 million.
• Chevron announced a quarterly dividend of $1.71 per share, yielding 4.3%, with the ex-dividend date set for August 19th.
• Institutional investors now own 72.42% of Chevron's stock, indicating strong backing from large financial entities.

Evergreen Capital Management LLC lifted its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,217 shares of the oil and gas company's stock after buying an additional 1,825 shares during the quarter. Evergreen Capital Management LLC's holdings in Chevron were worth $6,728,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its stake in shares of Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock worth $5,592,263,000 after buying an additional 1,574,464 shares during the period. Ameriprise Financial Inc. raised its stake in Chevron by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock valued at $2,421,564,000 after purchasing an additional 211,023 shares during the last quarter. Invesco Ltd. raised its stake in Chevron by 5.5% in the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company's stock valued at $2,652,437,000 after purchasing an additional 827,851 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Chevron by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company's stock valued at $2,054,513,000 after purchasing an additional 40,758 shares during the last quarter. Finally, GQG Partners LLC acquired a new position in Chevron in the 1st quarter valued at $1,466,751,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Scotiabank reissued a "sector perform" rating and issued a $160.00 price objective (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Mizuho reduced their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, TD Cowen upped their target price on Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a report on Monday, August 4th. Eleven equities 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 data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $163.95.

Chevron Trading Up 0.5%

Shares of NYSE CVX traded up $0.87 during mid-day trading on Tuesday, reaching $161.47. 4,839,361 shares of the company's stock were exchanged, compared to its average volume of 9,272,958. The firm has a market capitalization of $279.02 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 2.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company's 50-day moving average is $152.56 and its 200-day moving average is $148.77.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly 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 during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the business posted $2.55 EPS. Analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be issued a dividend of $1.71 per share. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.2%. Chevron's dividend payout ratio is currently 88.03%.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 375,000 shares of the stock in a transaction on Friday, August 22nd. The stock was 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 directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company's stock.

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.