Chevron Corporation (NYSE:CVX) Stock Position Raised by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 567,614 shares of the oil and gas company’s stock after buying an additional 30,939 shares during the period. Chevron accounts for approximately 0.5% of Resona Asset Management Co. Ltd.’s holdings, making the stock its 29th biggest position. Resona Asset Management Co. Ltd.’s holdings in Chevron were worth $94,845,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Sage Capital Advisors llc grew its position in shares of Chevron by 2.2% during the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock valued at $7,097,000 after buying an additional 919 shares during the last quarter. CCG Wealth Management LLC grew its position in shares of Chevron by 2.3% during the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock valued at $1,060,000 after buying an additional 145 shares during the last quarter. Ignite Planners LLC grew its position in shares of Chevron by 14.1% during the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock valued at $2,060,000 after buying an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. grew its position in shares of Chevron by 9.1% during the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock valued at $993,000 after buying an additional 495 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in shares of Chevron by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock valued at $24,075,000 after buying an additional 675 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CVX shares. UBS Group reissued a “buy” rating and set a $186.00 target price (up from $177.00) on shares of Chevron in a research note on Monday, August 4th. Redburn Atlantic restated a “sell” rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Mizuho decreased their target price 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. Hsbc Global Res cut shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, Piper Sandler restated an “overweight” rating on shares of Chevron in a research report on Tuesday, July 15th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $164.11.

Chevron Trading Down 1.0%

Shares of NYSE:CVX opened at $153.53 on Tuesday. The company has a 50 day moving average of $148.77 and a 200-day moving average of $148.51. The firm has a market cap of $265.30 billion, a P/E ratio of 19.76, a P/E/G ratio of 2.32 and a beta of 0.87. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last issued its quarterly earnings results 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 company had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.55 EPS. As a group, analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron’s dividend payout ratio is currently 88.03%.

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.