Quantbot Technologies LP Invests $1.01 Million in Chevron Corporation $CVX

Quantbot Technologies LP purchased a new position in shares of Chevron Corporation (NYSE:CVX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,043 shares of the oil and gas company's stock, valued at approximately $1,011,000.

Several other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd grew its position in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after buying an additional 122 shares in the last quarter. Elequin Capital LP bought a new position in Chevron in the 1st quarter valued at about $31,000. 10Elms LLP bought a new position in Chevron in the 4th quarter valued at about $29,000. IFS Advisors LLC grew its position in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after buying an additional 116 shares in the last quarter. Finally, Navigoe LLC bought a new position in Chevron in the 4th quarter valued at about $33,000. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

CVX stock opened at $157.8970 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market capitalization of $272.84 billion, a PE ratio of 20.32, a P/E/G ratio of 2.35 and a beta of 0.87. The firm has a 50-day moving average of $151.21 and a two-hundred day moving average of $148.63.

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

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. Chevron's dividend payout ratio is currently 88.03%.

Analyst Ratings Changes

CVX has been the subject of a number of recent analyst reports. HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and decreased their target price for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Piper Sandler increased their target price on shares of Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Mizuho reduced their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, Evercore ISI restated an "outperform" rating and set a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $163.95.

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.

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