Federation des caisses Desjardins du Quebec Buys 31,993 Shares of Chevron Corporation $CVX

Federation des caisses Desjardins du Quebec lifted its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 39.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 112,991 shares of the oil and gas company's stock after acquiring an additional 31,993 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Chevron were worth $18,905,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its holdings 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 acquiring an additional 1,574,464 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Chevron by 5.5% during the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company's stock worth $2,652,437,000 after acquiring an additional 827,851 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Chevron by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company's stock worth $2,054,513,000 after acquiring an additional 40,758 shares during the last quarter. GQG Partners LLC bought a new stake in shares of Chevron during the 1st quarter worth $1,466,751,000. Finally, Nuveen LLC bought a new stake in shares of Chevron during the 1st quarter worth $1,362,232,000. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is owned by insiders.

Chevron Price Performance

CVX stock opened at $161.82 on Wednesday. The firm's 50-day moving average price is $152.93 and its two-hundred day moving average price is $148.86. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The stock has a market capitalization of $279.62 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 2.38 and a beta of 0.90. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 7.02% and a return on equity of 9.90%. The company's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.55 EPS. As a group, equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 annualized dividend and a yield of 4.2%. Chevron's payout ratio is presently 88.03%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CVX shares. Melius started coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price on the stock. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Barclays reiterated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Melius Research started coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price on the stock. Finally, Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $163.95.

Chevron Company 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.

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