Korea Investment CORP Acquires 23,612 Shares of Chevron Corporation $CVX

by · The Markets Daily

Korea Investment CORP boosted its holdings in Chevron Corporation (NYSE:CVX – Free Report) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,258,455 shares of the oil and gas company’s stock after buying an additional 23,612 shares during the quarter. Chevron makes up approximately 0.5% of Korea Investment CORP’s investment portfolio, making the stock its 29th largest position. Korea Investment CORP owned 0.07% of Chevron worth $210,527,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd raised its holdings in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 122 shares during the last quarter. Elequin Capital LP acquired a new stake in Chevron during the 1st quarter valued at approximately $31,000. 10Elms LLP acquired a new stake in Chevron during the 4th quarter valued at approximately $29,000. IFS Advisors LLC increased its position in Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 116 shares during the period. Finally, Navigoe LLC acquired a new stake in Chevron during the 4th quarter valued at approximately $33,000. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $156.52 on Monday. 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 company has a fifty day simple moving average of $150.13 and a 200 day simple moving average of $148.49. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a market cap of $270.46 billion, a P/E ratio of 20.14, a PEG ratio of 2.35 and a beta of 0.87.

Chevron (NYSE:CVX – Get Free Report) 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. Chevron had a return on equity of 9.90% and a net margin of 7.02%. The business had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. During the same period last year, the business earned $2.55 EPS. The business’s revenue was down 12.4% on a year-over-year basis. Sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $1.71 per share. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron’s dividend payout ratio (DPR) is 88.03%.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent analyst reports. Wells Fargo & Company reissued an “overweight” rating and set a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. UBS Group reaffirmed a “buy” rating and set a $186.00 price objective (up previously from $177.00) on shares of Chevron in a research report on Monday, August 4th. Redburn Atlantic reaffirmed a “sell” rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Mizuho reduced their price objective 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. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Three analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of “Hold” and an average price target of $164.11.

Read Our Latest Stock Analysis on Chevron

Chevron Profile

(Free Report)

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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