8,142,937 Shares in Chevron Corporation (NYSE:CVX) Acquired by Nuveen LLC

Nuveen LLC acquired a new position in shares of Chevron Corporation (NYSE:CVXFree Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,142,937 shares of the oil and gas company’s stock, valued at approximately $1,362,232,000. Nuveen LLC owned about 0.46% of Chevron as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd boosted 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 purchasing an additional 122 shares during the last quarter. 10Elms LLP acquired a new stake in shares of Chevron during the 4th quarter worth approximately $29,000. Navigoe LLC purchased a new stake in shares of Chevron during the 4th quarter valued at approximately $33,000. IFS Advisors LLC lifted its holdings in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC acquired a new position in Chevron in the first quarter valued at approximately $39,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CVX shares. UBS Group reissued a “buy” rating and set a $186.00 target price (up previously from $177.00) on shares of Chevron in a research note on Monday, August 4th. Wells Fargo & Company reiterated an “overweight” rating and set a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Mizuho reduced their price target on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. TD Cowen increased their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Finally, Morgan Stanley assumed coverage on shares of Chevron in a report on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $164.11.

View Our Latest Stock Analysis on Chevron

Chevron Price Performance

CVX stock opened at $154.98 on Friday. The business’s 50-day moving average is $148.45 and its two-hundred day moving average is $148.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The firm has a market capitalization of $270.66 billion, a P/E ratio of 19.95, a P/E/G ratio of 2.32 and a beta of 0.87. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVXGet Free Report) last released its 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. Chevron had a net margin of 7.02% and a return on equity of 9.80%. The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period in the prior year, the firm earned $2.55 earnings per share. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. Analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

About Chevron

(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.

See Also

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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