Assenagon Asset Management S.A. raised its holdings in Chevron Co. (NYSE:CVX - Free Report) by 467.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 586,641 shares of the oil and gas company's stock after purchasing an additional 483,271 shares during the period. Assenagon Asset Management S.A.'s holdings in Chevron were worth $86,395,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of CVX. Anfield Capital Management LLC raised its holdings in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company's stock valued at $34,000 after acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC raised its stake in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 100 shares during the period. Krane Funds Advisors LLC purchased a new stake in Chevron during the 3rd quarter worth about $47,000. Livelsberger Financial Advisory bought a new position in Chevron in the 3rd quarter worth about $47,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in Chevron during the 1st quarter valued at about $55,000. Institutional investors own 72.42% of the company's stock.
A number of brokerages have recently issued reports on CVX. Barclays lowered their price target on shares of Chevron from $185.00 to $168.00 and set an "overweight" rating on the stock in a report on Thursday, October 3rd. Bank of America started coverage on shares of Chevron in a report on Thursday, October 17th. They issued a "buy" rating and a $168.00 price target for the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Truist Financial reduced their target price on Chevron from $154.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, September 30th. Finally, Mizuho lowered their price target on Chevron from $205.00 to $189.00 and set an "outperform" rating on the stock in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Chevron presently has an average rating of "Moderate Buy" and an average price target of $173.07.
Read Our Latest Research Report on Chevron
Shares of CVX opened at $150.46 on Friday. The firm has a market cap of $275.18 billion, a P/E ratio of 14.90, a P/E/G ratio of 3.30 and a beta of 1.09. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock has a 50 day simple moving average of $146.44 and a two-hundred day simple moving average of $153.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.
Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analysts' expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the company posted $3.08 EPS. On average, analysts forecast that Chevron Co. will post 10.86 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. Chevron's dividend payout ratio (DPR) is currently 64.55%.
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.
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