Prudential PLC Has $1.42 Million Stock Position in Chevron Corporation (NYSE:CVX)

Prudential PLC cut its stake in shares of Chevron Corporation (NYSE:CVX) by 73.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,469 shares of the oil and gas company’s stock after selling 23,103 shares during the period. Prudential PLC’s holdings in Chevron were worth $1,417,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Sage Capital Advisors llc grew its stake in shares of Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after purchasing an additional 919 shares during the period. CCG Wealth Management LLC lifted its holdings in Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after acquiring an additional 145 shares in the last quarter. Ignite Planners LLC lifted its holdings in Chevron by 14.1% during the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after acquiring an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. lifted its holdings in Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after acquiring an additional 495 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Chevron by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock worth $24,075,000 after acquiring an additional 675 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE CVX opened at $155.45 on Friday. The business’s 50 day moving average price is $149.80 and its two-hundred day moving average price is $148.59. The company has a market cap of $268.62 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 2.34 and a beta of 0.87. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last announced 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 firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%. The business’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.55 earnings per share. On average, analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio is presently 88.03%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CVX. Mizuho reduced their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Scotiabank reiterated a “sector perform” rating and set a $160.00 target price (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a report on Friday, August 1st. Barclays reiterated an “equal weight” rating on shares of Chevron in a report on Tuesday, July 15th. Finally, Redburn Atlantic reiterated a “sell” rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three investment 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. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Hold” and a consensus target price of $164.11.

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.