Vanguard Group Inc. Has $26.16 Billion Stock Position in Chevron Corporation (NYSE:CVX)

Key Points

• Vanguard Group Inc. reduced its position in Chevron Corporation by 0.4%, holding approximately 156.39 million shares, which now account for 0.5% of its investment portfolio.
• Chemical Corporation declared a quarterly dividend of $1.71 per share, translating to an annualized dividend of $6.84 and a yield of 4.5%.
• Chevron reported earnings of $1.77 per share for the last quarter, exceeding analysts' estimates, although quarterly revenue decreased 12.4% year-over-year.

Vanguard Group Inc. lessened its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 0.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 156,385,774 shares of the oil and gas company's stock after selling 581,951 shares during the period. Chevron comprises approximately 0.5% of Vanguard Group Inc.'s investment portfolio, making the stock its 25th largest holding. Vanguard Group Inc. owned 8.88% of Chevron worth $26,161,776,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd boosted its holdings in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after buying an additional 122 shares during the period. 10Elms LLP acquired a new stake in Chevron during the 4th quarter worth approximately $29,000. IFS Advisors LLC lifted its holdings in Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 116 shares during the last quarter. Navigoe LLC bought a new stake in Chevron in the 4th quarter valued at $33,000. Finally, Cloud Capital Management LLC acquired a new position in Chevron in the 1st quarter valued at $39,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVX. Scotiabank reissued a "sector perform" rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Redburn Atlantic reissued a "sell" rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research report on Friday, July 18th. Finally, Mizuho dropped their price target 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. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $164.11.

Chevron Price Performance

Shares of CVX traded up $1.82 during midday trading on Friday, hitting $154.98. The company's stock had a trading volume of 6,331,417 shares, compared to its average volume of 9,444,382. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The stock has a market capitalization of $270.66 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 2.29 and a beta of 0.87. The company's fifty day simple moving average is $148.08 and its two-hundred day simple moving average is $148.65.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a return on equity of 9.80% and a net margin of 7.02%. The business's revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.55 earnings per share. 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a $1.71 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron's dividend payout ratio (DPR) is currently 88.03%.

About Chevron

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.