Vestmark Advisory Solutions Inc. Raises Holdings in Chevron Corporation (NYSE:CVX)

Key Points

• Vestmark Advisory Solutions Inc. significantly increased its holdings in Chevron Corporation by 101.7% during the 1st quarter, owning a total of 63,749 shares valued at approximately $10.67 million.
• Certain institutional investors, such as GQG Partners LLC and Nuveen LLC, made substantial new investments in Chevron, reflecting strong interest in the company's stock.
• Chevron announced a quarterly dividend of $1.71 per share, with an annualized yield of 4.4%, expected to be paid on September 10th.

Vestmark Advisory Solutions Inc. lifted its position in Chevron Corporation (NYSE:CVX - Free Report) by 101.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,749 shares of the oil and gas company's stock after buying an additional 32,146 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Chevron were worth $10,665,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd boosted its stake in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 122 shares during the period. 10Elms LLP purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $29,000. Navigoe LLC purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $33,000. IFS Advisors LLC boosted its stake in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares during the period. Finally, Cloud Capital Management LLC purchased a new stake in Chevron in the first quarter worth $39,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 0.9%

Shares of NYSE CVX traded up $1.36 during mid-day trading on Friday, reaching $156.52. 11,613,242 shares of the company were exchanged, compared to its average volume of 11,908,853. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The stock has a market cap of $270.46 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 2.33 and a beta of 0.87. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a 50-day moving average of $150.13 and a 200 day moving average of $148.59.

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

Chevron Dividend Announcement

The company 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. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is presently 88.03%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Raymond James Financial reaffirmed an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Evercore ISI reaffirmed an "outperform" rating and issued a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. TD Cowen raised their price objective on Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research report on Monday, August 4th. UBS Group reissued a "buy" rating and set a $186.00 price objective (up previously from $177.00) on shares of Chevron in a research report on Monday, August 4th. Finally, HSBC lowered Chevron from a "buy" rating to a "hold" rating and lowered their price objective for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $164.11.

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.