TCW Group Inc. Has $26.76 Million Position in Chevron Corporation (NYSE:CVX)

Key Points

• TCW Group Inc. increased its stake in Chevron Corporation by 6.6% in Q1, bringing its total holdings to 159,984 shares valued at approximately $26.76 million.
• Recent analyst reports show a mix of ratings on Chevron, with DZ Bank downgrading the stock to "sell" while others like Piper Sandler maintained an "overweight" rating, reflecting a cautious outlook.
• Chevron reported quarterly earnings of $2.18 per share, slightly above estimates, despite a 2.3% decline in revenue year-over-year, highlighting ongoing challenges in the oil market.

TCW Group Inc. increased its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 6.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,984 shares of the oil and gas company's stock after purchasing an additional 9,846 shares during the period. TCW Group Inc.'s holdings in Chevron were worth $26,764,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Horan Capital Advisors LLC. boosted its holdings in Chevron by 6.9% during the first quarter. Horan Capital Advisors LLC. now owns 4,407 shares of the oil and gas company's stock valued at $737,000 after acquiring an additional 286 shares during the period. Sterling Investment Advisors Ltd. boosted its holdings in Chevron by 1.6% during the first quarter. Sterling Investment Advisors Ltd. now owns 26,609 shares of the oil and gas company's stock valued at $4,451,000 after acquiring an additional 423 shares during the period. LPL Financial LLC boosted its holdings in Chevron by 6.4% during the first quarter. LPL Financial LLC now owns 3,553,406 shares of the oil and gas company's stock valued at $594,449,000 after acquiring an additional 215,298 shares during the period. Mitchell Sinkler & Starr PA boosted its holdings in Chevron by 5.2% during the first quarter. Mitchell Sinkler & Starr PA now owns 14,028 shares of the oil and gas company's stock valued at $2,347,000 after acquiring an additional 695 shares during the period. Finally, Texas Yale Capital Corp. boosted its holdings in Chevron by 0.4% during the first quarter. Texas Yale Capital Corp. now owns 38,878 shares of the oil and gas company's stock valued at $6,504,000 after acquiring an additional 159 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of CVX traded down $1.49 during mid-day trading on Thursday, hitting $152.07. 4,790,645 shares of the company traded hands, compared to its average volume of 9,451,151. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average of $146.24 and a 200 day moving average of $148.93. The stock has a market capitalization of $265.57 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 2.47 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. During the same period last year, the firm earned $2.93 earnings per share. The business's revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.50%. Chevron's payout ratio is 78.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CVX shares. UBS Group decreased their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Wells Fargo & Company upped their price objective on shares of Chevron from $165.00 to $178.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Finally, DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Chevron has an average rating of "Hold" and an average target price of $163.18.

Chevron 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.