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

VaselineSeptember 28, 2024

0 4 minutes read

AQR Capital Management LLC grew its holdings in Chevron Co. (NYSE:CVX – Free Report) by 41.3% in the second 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 purchasing 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. raised its position in Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after buying an additional 63 shares during the period. Private Wealth Management Group LLC boosted its position in shares of Chevron by 15.7% in 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 purchasing an additional 63 shares during the period. Montz Harcus Wealth Management LLC boosted its position in shares of Chevron by 2.2% in 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 boosted 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 purchasing an additional 64 shares in the last quarter. Finally, Marks Group Wealth Management Inc boosted 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 shares are currently held by institutional investors.

Changes in Analyst Ratings

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 17. 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 cut 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 cut 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 cut their price target 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. The company has an average rating of “Moderate Buy” and a consensus price target of $182.41, based on data from MarketBeat.

Want more great investment ideas?

View the latest stock report on CVX

Chevron trading down 1.4%

Shares of Chevron stock opened at $142.00 on Friday. Chevron Co. it has a one year low of $135.37 and a one year high of $171.70. The company’s fifty day moving average is $147.30 and its 200 day moving average is $154.42. The stock has a market cap 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 – Get Free Report ) 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 prior year, the business earned $3.08 EPS. The company’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 company also recently announced 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 19. This represents a dividend of $6.52 on an annualized basis and a yield of 4.59%. Chevron’s dividend payout ratio is currently 59.98%.

About Chevron

(Free Report)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemical 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, transport and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage and trading of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.