AQR Capital Management LLC Acquires 250,902 Shares of Chevron Co. (NYSE:CVX)

AQR Capital Management LLC grew its holdings in Chevron Co. (NYSE:CVX) by 41.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 858,155 shares of the oil and gas company’s stock after buying an additional 250,902 shares during the quarter. AQR Capital Management LLC’s holdings in Chevron were worth $134,233,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CVX. Pacifica Partners Inc. increased its position in Chevron by 1.8% during the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 63 shares during the period. Private Wealth Management Group LLC increased its position in shares of Chevron by 15.7% during the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after buying an additional 63 shares during the period. Montz Harcus Wealth Management LLC increased its position in shares of Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after buying an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC raised its stake in Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after buying an additional 64 shares in the last quarter. Finally, Marks Group Wealth Management Inc lifted its holdings in Chevron by 3.1% in the first quarter. Marks Group Wealth Management Inc now owns 2,148 shares of the oil and gas company’s stock worth $339,000 after buying an additional 65 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on CVX. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Mizuho dropped their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Scotiabank decreased their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada lowered their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, Truist Financial decreased their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $182.41.

Chevron Trading Down 1.4 %

Chevron stock opened at $142.00 on Friday. Chevron Co. has a one year low of $135.37 and a one year high of $171.70. The business’s fifty day moving average is $147.30 and its 200 day moving average is $154.42. The stock has a market capitalization of $259.71 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09. 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) last announced its quarterly earnings results 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the business earned $3.08 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Co. will post 11.02 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 yield of 4.59%. Chevron’s dividend payout ratio is presently 59.98%.

About Chevron

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.