Viking Fund Management LLC Has $10.31 Million Holdings in Chevron Co. (NYSE:CVX)

Viking Fund Management LLC lifted its stake in Chevron Co. (NYSE:CVX) by 20.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 70,000 shares of the oil and gas company’s stock after buying an additional 12,000 shares during the period. Chevron comprises approximately 1.7% of Viking Fund Management LLC’s portfolio, making the stock its 14th biggest holding. Viking Fund Management LLC’s holdings in Chevron were worth $10,309,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CVX. Ameriprise Financial Inc. increased its holdings in shares of Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after purchasing an additional 501,969 shares during the period. Capital World Investors increased its stake in 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. Legal & General Group Plc raised its holdings in Chevron by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock valued at $2,122,772,000 after acquiring an additional 629,644 shares in the last quarter. Capital International Investors lifted its position in shares of Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after acquiring an additional 743,042 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Chevron by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock worth $2,036,846,000 after purchasing an additional 126,889 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX traded up $0.80 during trading on Friday, reaching $151.42. The company had a trading volume of 5,051,314 shares, compared to its average volume of 7,765,251. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $170.17. The business’s 50 day moving average price is $145.46 and its 200-day moving average price is $153.95. The stock has a market cap of $276.94 billion, a PE ratio of 14.99, a PEG ratio of 2.70 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion during 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 business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.08 EPS. Analysts expect that Chevron Co. will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is 64.55%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent research reports. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. UBS Group upped their target price on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Wells Fargo & Company cut their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Mizuho lowered their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Finally, Truist Financial cut their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $176.81.

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.