Chevron Corporation $CVX Stock Holdings Trimmed by Martingale Asset Management L P

Martingale Asset Management L P lessened its holdings in shares of Chevron Corporation (NYSE:CVX) by 4.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 169,898 shares of the oil and gas company’s stock after selling 7,861 shares during the quarter. Martingale Asset Management L P’s holdings in Chevron were worth $28,422,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position 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 valued at $5,592,263,000 after buying an additional 1,574,464 shares in the last quarter. Northern Trust Corp lifted its stake in shares of 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 period. Ameriprise Financial Inc. lifted its stake in shares of Chevron by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company’s stock worth $2,421,564,000 after acquiring an additional 211,023 shares during the period. Invesco Ltd. boosted its holdings in shares of Chevron by 5.5% in the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after acquiring an additional 827,851 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Chevron by 2.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,755,894 shares of the oil and gas company’s stock valued at $1,992,406,000 after acquiring an additional 292,585 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of NYSE CVX opened at $152.8990 on Thursday. The company has a market capitalization of $264.21 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 2.25 and a beta of 0.87. The business’s 50-day moving average price is $150.76 and its two-hundred day moving average price is $148.59. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion for 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 company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.55 earnings per share. Analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 4.5%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron’s payout ratio is presently 88.03%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Piper Sandler upped their target price on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday. Mizuho dropped their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Raymond James Financial restated an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Evercore ISI reiterated an “outperform” rating and issued a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Finally, UBS Group upped their price target on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Hold” and an average target price of $163.95.

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.