Asset Management One Co. Ltd. Acquires 40,293 Shares of Chevron Corporation (NYSE:CVX)

Asset Management One Co. Ltd. increased its holdings in Chevron Corporation (NYSE:CVX) by 5.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 820,518 shares of the oil and gas company’s stock after acquiring an additional 40,293 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Chevron were worth $137,264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in Chevron in the fourth quarter worth $3,017,750,000. Raymond James Financial Inc. purchased a new stake in shares of Chevron in the 4th quarter worth about $1,036,302,000. GAMMA Investing LLC increased its stake in shares of Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after acquiring an additional 5,382,847 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Chevron by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock valued at $2,389,380,000 after acquiring an additional 2,432,756 shares during the period. Finally, Amundi boosted its stake in Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company’s stock worth $1,323,549,000 after acquiring an additional 1,910,262 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $146.92 on Tuesday. The firm’s 50-day moving average price is $139.60 and its 200-day moving average price is $148.52. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a market cap of $256.58 billion, a PE ratio of 16.79, a PEG ratio of 2.63 and a beta of 0.83. 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 (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company posted $2.93 earnings per share. As a group, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.66%. The ex-dividend date was Monday, May 19th. Chevron’s payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of analyst reports. TD Cowen decreased their target price on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Wells Fargo & Company reduced their price objective on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. BNP Paribas cut Chevron to a “cautious” rating in a research note on Tuesday, April 15th. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a report on Tuesday, May 6th. Finally, Hsbc Global Res cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $160.24.

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.