Tokio Marine Asset Management Co. Ltd. Raises Stake in Chevron Corporation (NYSE:CVX)

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its stake in Chevron Corporation by 3.4%, holding a total of 74,579 shares valued at approximately $12.5 million.
• The oil giant Chevron reported an EPS of $1.77 for the last quarter, exceeding analysts' expectations, even as quarterly revenue decreased by 12.4% year-over-year.
• Chemical firm Chevron recently announced a dividend of $1.71 per share, with an annualized yield of 4.4% and a payout ratio of 88.03%.

Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,579 shares of the oil and gas company's stock after acquiring an additional 2,459 shares during the quarter. Tokio Marine Asset Management Co. Ltd.'s holdings in Chevron were worth $12,476,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. CoreCap Advisors LLC raised its position in shares of Chevron by 0.3% during the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock valued at $4,091,000 after buying an additional 71 shares in the last quarter. Clayton Financial Group LLC raised its position in shares of Chevron by 4.6% during the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock valued at $285,000 after buying an additional 75 shares in the last quarter. Gill Capital Partners LLC raised its position in shares of Chevron by 4.9% during the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company's stock valued at $271,000 after buying an additional 75 shares in the last quarter. Cordatus Wealth Management LLC raised its position in shares of Chevron by 0.4% during the 1st quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company's stock valued at $3,299,000 after buying an additional 76 shares in the last quarter. Finally, Requisite Capital Management LLC raised its position in shares of Chevron by 1.2% during the 1st quarter. Requisite Capital Management LLC now owns 6,362 shares of the oil and gas company's stock valued at $1,064,000 after buying an additional 77 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 0.9%

Shares of CVX traded up $1.36 during trading on Friday, reaching $156.52. 11,612,300 shares of the company traded hands, compared to its average volume of 9,386,901. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a market cap of $270.46 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87. The stock has a 50-day simple moving average of $149.80 and a 200-day simple moving average of $148.59. 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 announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share 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 business had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. During the same period last year, the business earned $2.55 earnings per share. The business's revenue for the quarter was down 12.4% on a year-over-year basis. On average, analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 presently 88.03%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CVX shares. DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a research report on Tuesday, May 6th. Evercore ISI restated an "outperform" rating and issued a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Mizuho decreased their price objective 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. Redburn Atlantic reiterated a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, TD Cowen boosted their price target on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research report on Monday, August 4th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Chevron currently has a consensus rating of "Hold" and a consensus price target of $164.11.

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.