RPG Investment Advisory LLC Increases Stock Position in Chevron Corporation $CVX

Key Points

• RPG Investment Advisory LLC significantly increased its stake in Chevron Corporation, raising its position by 85.5% and owning 232,877 shares, valued at approximately $38.96 million.
• Chevron reported $1.77 earnings per share for the most recent quarter, exceeding analysts' expectations of $1.58 but reflecting a 12.4% year-over-year revenue decline.
• The company declared a quarterly dividend of $1.71, payable on September 10, offering an annualized dividend yield of 4.4%.

RPG Investment Advisory LLC lifted its position in Chevron Corporation (NYSE:CVX - Free Report) by 85.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 232,877 shares of the oil and gas company's stock after purchasing an additional 107,337 shares during the quarter. Chevron accounts for approximately 2.8% of RPG Investment Advisory LLC's holdings, making the stock its 9th biggest holding. RPG Investment Advisory LLC's holdings in Chevron were worth $38,958,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CVX. 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 purchasing an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in Chevron by 7.9% during the 4th 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 period. MGO One Seven LLC increased its stake in shares of Chevron by 7.3% in the 4th quarter. MGO One Seven LLC now owns 25,082 shares of the oil and gas company's stock valued at $3,633,000 after acquiring an additional 1,714 shares during the last quarter. Burling Wealth Partners LLC bought a new stake in shares of Chevron in the 4th quarter valued at about $2,372,000. Finally, Integrated Wealth Concepts LLC increased its stake in shares of Chevron by 7.6% in the 4th quarter. Integrated Wealth Concepts LLC now owns 117,062 shares of the oil and gas company's stock valued at $16,955,000 after acquiring an additional 8,295 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

Shares of CVX opened at $155.1660 on Friday. The stock has a market capitalization of $268.13 billion, a P/E ratio of 19.97, a P/E/G ratio of 2.27 and a beta of 0.87. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a 50 day moving average of $150.97 and a 200-day moving average of $148.63. 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 (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during 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 quarterly revenue was down 12.4% on a year-over-year basis. During the same period last year, the business earned $2.55 EPS. As a group, equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron's dividend payout ratio (DPR) is currently 88.03%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. TD Cowen upped their price target on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a report on Monday, August 4th. Mizuho reduced their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Melius Research assumed coverage on shares of Chevron in a report on Wednesday. They issued a "hold" rating and a $155.00 price target for the company. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $178.00 price target on shares of Chevron in a report on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average 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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