AGF Management Ltd. Has $5.22 Million Stock Holdings in Chevron Co. (NYSE:CVX)

AGF Management Ltd. lessened its position in shares of Chevron Co. (NYSE:CVX) by 26.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,359 shares of the oil and gas company’s stock after selling 12,118 shares during the quarter. AGF Management Ltd.’s holdings in Chevron were worth $5,218,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Berkshire Hathaway Inc lifted its stake in shares of Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares during the period. Norges Bank acquired a new position in shares of Chevron during the fourth quarter valued at $2,902,007,000. Bank of New York Mellon Corp lifted its stake in shares of Chevron by 4.2% during the first quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock valued at $2,540,135,000 after acquiring an additional 654,482 shares during the period. Capital World Investors lifted its stake in shares of Chevron by 3.2% during the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after acquiring an additional 495,879 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Chevron by 13.0% during the fourth quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock valued at $2,330,235,000 after acquiring an additional 1,797,171 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 1.0 %

NYSE:CVX opened at $139.22 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a market cap of $254.62 billion, a PE ratio of 12.81, a PEG ratio of 2.34 and a beta of 1.09. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $171.70. The stock has a 50-day simple moving average of $149.40 and a 200 day simple moving average of $154.81.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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). The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.08 earnings per share. On average, sell-side analysts expect that Chevron Co. will post 11.86 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued 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 dividend yield of 4.68%. Chevron’s payout ratio is presently 59.98%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CVX. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Scotiabank cut their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Royal Bank of Canada cut their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Finally, Barclays cut their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $183.82.

Chevron 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.