KLP Kapitalforvaltning AS Has $85.08 Million Stock Position in Chevron Corporation (NYSE:CVX)

KLP Kapitalforvaltning AS decreased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 508,600 shares of the oil and gas company's stock after selling 13,600 shares during the period. KLP Kapitalforvaltning AS's holdings in Chevron were worth $85,084,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Eagle Capital Management LLC grew its holdings in shares of Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after acquiring an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of Chevron by 7.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after buying an additional 2,641 shares during the period. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Chevron in the fourth quarter worth $3,947,000. Clune & Associates LTD. acquired a new stake in shares of Chevron in the fourth quarter worth $367,000. Finally, Congress Wealth Management LLC DE boosted its position in shares of Chevron by 0.6% in the fourth quarter. Congress Wealth Management LLC DE now owns 133,344 shares of the oil and gas company's stock worth $19,314,000 after buying an additional 785 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Trading Up 1.8%

Shares of CVX traded up $2.70 during trading hours on Thursday, reaching $155.82. The stock had a trading volume of 15,683,364 shares, compared to its average volume of 9,521,180. 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 50-day moving average of $144.59 and a 200 day moving average of $148.73. The company has a market cap of $272.12 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.48 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company's revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.93 EPS. On average, 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. Shareholders of record on Monday, May 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Analysts Set New Price Targets

Several analysts have recently commented on CVX shares. TD Cowen decreased their target price on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. UBS Group dropped their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Scotiabank reiterated 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. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $162.13.

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.