KBC Group NV Buys 6,666 Shares of Chevron Corporation (NYSE:CVX)

KBC Group NV boosted its stake in Chevron Corporation (NYSE:CVX) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 170,129 shares of the oil and gas company’s stock after purchasing an additional 6,666 shares during the quarter. KBC Group NV’s holdings in Chevron were worth $28,461,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in CVX. IMG Wealth Management Inc. bought a new stake in shares of Chevron during the 4th quarter valued at about $25,000. Life Planning Partners Inc bought a new stake in shares of Chevron during the 4th quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron during the 4th quarter valued at about $29,000. 10Elms LLP bought a new stake in shares of Chevron during the 4th quarter valued at about $29,000. Finally, Fairway Wealth LLC boosted its position in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of CVX stock opened at $143.32 on Tuesday. The firm has a market cap of $250.29 billion, a P/E ratio of 16.38, a P/E/G ratio of 2.52 and a beta of 0.83. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The business’s 50 day moving average price is $140.40 and its 200-day moving average price is $148.10. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company earned $2.93 EPS. On average, equities research 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 was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.77%. Chevron’s dividend payout ratio is currently 78.17%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and dropped their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. TD Cowen dropped their price target on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, May 5th. DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $160.00 to $143.00 in a report on Friday, April 11th. Finally, Piper Sandler decreased their price objective on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $160.29.

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.