IFM Investors Pty Ltd Buys 43,574 Shares of Chevron Corporation (NYSE:CVX)

IFM Investors Pty Ltd boosted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 13.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 356,710 shares of the oil and gas company's stock after buying an additional 43,574 shares during the quarter. Chevron makes up 0.6% of IFM Investors Pty Ltd's investment portfolio, making the stock its 24th largest holding. IFM Investors Pty Ltd's holdings in Chevron were worth $59,674,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock valued at $5,247,142,000 after purchasing an additional 392,916 shares during the period. Norges Bank purchased a new position in shares of Chevron in the 4th quarter worth about $3,017,750,000. Northern Trust Corp grew its position in Chevron by 7.3% during 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 during the period. Franklin Resources Inc. increased its holdings in Chevron by 0.5% during the fourth quarter. Franklin Resources Inc. now owns 17,280,105 shares of the oil and gas company's stock worth $2,502,850,000 after buying an additional 79,917 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Chevron by 1.3% during the fourth quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock worth $2,421,564,000 after buying an additional 211,023 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Up 0.2%

Shares of NYSE CVX opened at $148.23 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average of $140.97 and a 200-day moving average of $148.07. The firm has a market capitalization of $258.86 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 2.52 and a beta of 0.83. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.93 EPS. Sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.61%. Chevron's dividend payout ratio is presently 78.17%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a research note on Tuesday, May 6th. BNP Paribas downgraded Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Finally, Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the company from $160.00 to $143.00 in a research note on Friday, April 11th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $160.41.

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.

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