1,812 Shares in Chevron Corporation (NYSE:CVX) Bought by Johnson Financial Group LLC

Key Points

• Johnson Financial Group LLC has acquired a new position in Chevron Corporation, purchasing 1,812 shares valued at approximately $303,000.
• Chemical and oil company Chevron recently announced a quarterly dividend of $1.71, resulting in a 4.4% yield based on its annualized dividend payout.
• Chevron's most recent earnings report showed an EPS of $1.77, surpassing analysts' expectations, but revenue decreased by 12.4% compared to the previous year.

Johnson Financial Group LLC purchased a new stake in shares of Chevron Corporation (NYSE:CVX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,812 shares of the oil and gas company's stock, valued at approximately $303,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of 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 purchasing an additional 1,574,464 shares in the last quarter. Northern Trust Corp raised its position in shares of Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after acquiring an additional 1,394,091 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Chevron by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock worth $2,421,564,000 after purchasing an additional 211,023 shares during the last quarter. Capital World Investors lifted its stake in shares of Chevron by 11.4% during the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock worth $2,039,288,000 after purchasing an additional 1,440,808 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Chevron by 2.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,755,894 shares of the oil and gas company's stock worth $1,992,406,000 after purchasing an additional 292,585 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

CVX has been the topic of a number of research analyst reports. Piper Sandler reissued an "overweight" rating on shares of Chevron in a report on Tuesday, July 15th. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Morgan Stanley began coverage on shares of Chevron in a research report on Monday, August 4th. They set an "overweight" rating and a $174.00 price target for the company. Scotiabank reiterated a "sector perform" rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Finally, DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a report on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron has an average rating of "Hold" and an average price target of $164.11.

Chevron Stock Up 1.2%

CVX stock traded up $1.82 during midday trading on Friday, hitting $154.98. The company's stock had a trading volume of 6,331,417 shares, compared to its average volume of 12,388,930. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a market capitalization of $270.66 billion, a P/E ratio of 19.95, a PEG ratio of 2.32 and a beta of 0.87. The firm has a 50-day simple moving average of $148.45 and a 200-day simple moving average of $148.58.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results 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. Chevron had a net margin of 7.02% and a return on equity of 9.80%. The company had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. During the same quarter last year, the company posted $2.55 EPS. The firm's revenue was down 12.4% compared to the same quarter last year. As a group, equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company 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. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is presently 88.03%.

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.