LGT Group Foundation Acquires 16,501 Shares of Chevron Corporation (NYSE:CVX)

LGT Group Foundation grew its position in Chevron Corporation (NYSE:CVX) by 14.9% during the first quarter, HoldingsChannel.com reports. The fund owned 127,158 shares of the oil and gas company’s stock after acquiring an additional 16,501 shares during the quarter. LGT Group Foundation’s holdings in Chevron were worth $21,272,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CVX. Nuveen LLC bought a new stake in Chevron in the 1st quarter worth approximately $1,362,232,000. GAMMA Investing LLC increased its stake in 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 during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after acquiring an additional 1,574,464 shares during the last quarter. Capital World Investors increased its stake in Chevron by 11.4% in the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock worth $2,039,288,000 after acquiring an additional 1,440,808 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock worth $2,965,135,000 after acquiring an additional 1,394,091 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on CVX shares. Scotiabank reaffirmed a “sector perform” rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Mizuho cut their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Barclays reissued an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Evercore ISI reissued an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Finally, Redburn Atlantic reissued a “sell” rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $164.11.

Chevron Stock Down 1.0%

Shares of CVX opened at $153.53 on Tuesday. The firm has a market capitalization 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 12-month low of $132.04 and a 12-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. The firm has a fifty day moving average price of $148.77 and a 200-day moving average price of $148.51.

Chevron (NYSE:CVX) last issued 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. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same period in the previous year, the firm earned $2.55 earnings per share. The business’s revenue was down 12.4% on a year-over-year basis. Equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current 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 issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Tuesday, August 19th. Chevron’s dividend payout ratio 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.