Norinchukin Bank The Buys 13,719 Shares of Chevron Corporation $CVX

Key Points

• Norinchukin Bank increased its stake in Chevron Corporation by 15.1% during the first quarter, acquiring an additional 13,719 shares for a total of 104,771 shares valued at approximately $17.5 million.
• Chevron reported a quarterly EPS of $1.77, beating analysts' expectations and generating revenue of $44.82 billion, although it represented a 12.4% decline year-over-year.
• The company declared a quarterly dividend of $1.71, scheduled for payment on September 10th, reflecting an annualized yield of 4.5%.

Norinchukin Bank The boosted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 15.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 104,771 shares of the oil and gas company's stock after acquiring an additional 13,719 shares during the period. Norinchukin Bank The's holdings in Chevron were worth $17,527,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Lionsbridge Wealth Management LLC bought a new position in shares of Chevron in the first quarter worth about $281,000. CW Advisors LLC boosted its stake in Chevron by 20.7% in the 1st quarter. CW Advisors LLC now owns 160,990 shares of the oil and gas company's stock worth $26,905,000 after purchasing an additional 27,646 shares during the period. Summit Financial LLC grew its holdings in Chevron by 23.7% during the 1st quarter. Summit Financial LLC now owns 36,079 shares of the oil and gas company's stock valued at $6,036,000 after buying an additional 6,920 shares in the last quarter. United Asset Strategies Inc. grew its holdings in Chevron by 0.6% during the 1st quarter. United Asset Strategies Inc. now owns 82,847 shares of the oil and gas company's stock valued at $13,859,000 after buying an additional 526 shares in the last quarter. Finally, Candriam S.C.A. raised its position in shares of Chevron by 16.3% during the first quarter. Candriam S.C.A. now owns 3,525 shares of the oil and gas company's stock valued at $590,000 after buying an additional 493 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVX. Evercore ISI reiterated an "outperform" rating and issued a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Morgan Stanley assumed coverage on Chevron in a report on Monday, August 4th. They set an "overweight" rating and a $174.00 price objective on the stock. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a report on Friday, July 18th. Finally, Barclays reaffirmed an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $163.95.

Chevron Price Performance

CVX opened at $152.8990 on Thursday. The business has a fifty day moving average of $150.76 and a 200 day moving average of $148.59. The stock has a market cap of $264.21 billion, a P/E ratio of 19.68, a PEG ratio of 2.25 and a beta of 0.87. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business's revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.55 earnings per share. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a $1.71 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron's payout ratio 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.