Chevron Corporation $CVX Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Chevron Corporation (CVX) by 10.5%, selling over 1.4 million shares and now owning approximately 12.3 million shares valued at $2.06 billion.
• Chevron's quarterly dividend of $1.71 per share represents an annualized yield of 4.5%, with a declared payout ratio of 88.03%.
• As of now, Chevron has been rated by 11 analysts as a Buy, 8 as Hold, and 3 as Sell, with a consensus target price of $163.95.

Price T Rowe Associates Inc. MD decreased its stake in Chevron Corporation (NYSE:CVX - Free Report) by 10.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,312,890 shares of the oil and gas company's stock after selling 1,443,004 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.70% of Chevron worth $2,059,824,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Eagle Capital Management LLC increased its position in shares of Chevron by 0.7% during the fourth 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 holdings in 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 valued at $5,212,000 after purchasing an additional 2,641 shares during the last quarter. MGO One Seven LLC boosted its holdings in Chevron by 7.3% in the fourth quarter. MGO One Seven LLC now owns 25,082 shares of the oil and gas company's stock valued at $3,633,000 after purchasing an additional 1,714 shares during the last quarter. RBF Capital LLC acquired a new stake in Chevron during the 4th quarter valued at approximately $1,448,000. Finally, CSM Advisors LLC increased its holdings in Chevron by 18.6% during the 4th quarter. CSM Advisors LLC now owns 107,566 shares of the oil and gas company's stock worth $15,578,000 after purchasing an additional 16,855 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Mizuho reduced their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and decreased their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Raymond James Financial restated an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $163.95.

Chevron Stock Performance

NYSE CVX traded up $2.3470 during trading hours on Friday, reaching $157.8970. The company's stock had a trading volume of 9,080,229 shares, compared to its average volume of 8,166,027. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $151.21 and a 200 day simple moving average of $148.66. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market cap of $272.84 billion, a PE ratio of 20.32, a PEG ratio of 2.31 and a beta of 0.87.

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

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is presently 88.03%.

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.