Mitsubishi UFJ Asset Management Co. Ltd. Acquires 139,750 Shares of Chevron Corporation $CVX

Key Points

• Mitsubishi UFJ Asset Management boosted its Chevron stake by 3.3% in Q4, buying 139,750 shares to hold 4,359,741 shares (~0.22% of the company) valued at about $679.7 million.
• Significant insider selling occurred recently — insiders sold 621,439 shares worth $118.3 million in the last 90 days, including large sales by Vice Chairman Mark A. Nelson and R. Hewitt Pate, leaving insiders with 0.56% ownership.
• Financial and payout update: Chevron beat EPS expectations ($1.41 vs. $1.00) for the quarter and declared a $1.78 quarterly dividend (annual $7.12) yielding ~3.7% (payout ratio 123.4%).

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,359,741 shares of the oil and gas company's stock after purchasing an additional 139,750 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.22% of Chevron worth $679,684,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Chevron by 17.9% during the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company's stock valued at $28,540,753,000 after purchasing an additional 27,961,463 shares during the period. State Street Corp raised its stake in shares of Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock valued at $23,698,184,000 after buying an additional 12,789,399 shares during the period. Primecap Management Co. CA purchased a new position in shares of Chevron during the 3rd quarter valued at $988,083,000. Bank of New York Mellon Corp lifted its position in shares of Chevron by 27.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 19,627,146 shares of the oil and gas company's stock valued at $3,047,900,000 after buying an additional 4,279,918 shares during the last quarter. Finally, Amundi grew its stake in shares of Chevron by 41.8% during the 3rd quarter. Amundi now owns 11,760,376 shares of the oil and gas company's stock worth $1,811,333,000 after acquiring an additional 3,464,058 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Insider Transactions at Chevron

In other news, Vice Chairman Mark A. Nelson sold 139,600 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total value of $26,233,632.00. Following the sale, the insider directly owned 11,337 shares of the company's stock, valued at approximately $2,130,449.04. This represents a 92.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider R. Hewitt Pate sold 40,200 shares of the stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the sale, the insider directly owned 8,638 shares in the company, valued at approximately $1,842,485.40. This represents a 82.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 621,439 shares of company stock valued at $118,307,800. 0.56% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CVX shares. Zacks Research raised Chevron from a "hold" rating to a "strong-buy" rating in a report on Friday, April 3rd. Freedom Capital lowered shares of Chevron from a "hold" rating to a "strong sell" rating in a research report on Tuesday, January 6th. Scotiabank raised their price objective on shares of Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Melius Research upgraded Chevron from a "hold" rating to a "buy" rating and set a $205.00 target price for the company in a research note on Tuesday, February 17th. Finally, Citigroup upped their price target on shares of Chevron from $210.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $202.09.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: CEO warning and higher oil prices: CEO Mike Wirth said physical shortages could emerge if the Strait of Hormuz remains disrupted, a comment that supports oil-price upside and benefits integrated producers like Chevron. Chevron CEO says physical shortages in oil supply to begin appearing
• Positive Sentiment: Oil-driven rally and capital returns: Coverage notes that CVX is rallying as crude moves higher and Chevron’s shareholder-friendly capital returns (buybacks/dividends) remain a tailwind for valuation and investor sentiment. Chevron Corporation (CVX) Rallies as Oil Prices Surge and Capital Returns Impress
• Positive Sentiment: Analyst support: Royal Bank of Canada reaffirmed an “outperform” rating and set a $220 price target, signaling broker confidence and potential upside vs. current levels. Benzinga
• Neutral Sentiment: Exploration expansion: Chevron said it will search for oil and gas south of Malta, extending Mediterranean activity — a strategic growth move whose near-term impact on production and cash flow is uncertain. Chevron expands Mediterranean activities with exploration offshore Malta
• Neutral Sentiment: Iraq asset negotiations: Reports that Chevron is in talks for stakes in major Iraqi fields represent meaningful long-term optionality but remain speculative until deals are announced. Chevron Iraqi Oilfield Talks And What They Could Mean For CVX Valuation
• Neutral Sentiment: Ceasefire reports temper tail-risk: U.S. statements that a ceasefire/pauses in hostilities are holding reduce the immediate tail risk of a full-blown Gulf conflict, which could cap further oil-price spikes and limit upside for CVX. US Says Iran Ceasefire in Place After Clashes Over Hormuz
• Negative Sentiment: Reputational and political risk: Consumer Watchdog alleges a “phony” Chevron-funded group is funding ads blaming California policy for high pump prices — a PR/political headwind that could attract regulatory or public-relations costs. Phony Chevron-Funded Group Blames CA When Chevron's Price Gouging Is Pegged For Run Up At Pump According To New State Gas Pricing Report, Says Consumer Watchdog
• Negative Sentiment: Price volatility after geopolitical headlines: While tensions initially pushed oil sharply higher, follow-on reports of the truce and easing shipping disruptions have pulled prices back at times — introducing near-term volatility that can pressure CVX shares. Oil Declines as Fragile Truce Holds Following Hormuz Clashes

Chevron Trading Up 0.2%

Shares of CVX stock opened at $192.65 on Wednesday. The business has a 50-day moving average price of $193.26 and a two-hundred day moving average price of $171.64. The firm has a market cap of $383.81 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 0.71 and a beta of 0.51. Chevron Corporation has a 12-month low of $133.77 and a 12-month high of $214.71. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.41. The company had revenue of $48.61 billion for the quarter, compared to analysts' expectations of $51.86 billion. Chevron had a return on equity of 7.01% and a net margin of 5.79%.Chevron's quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $2.18 earnings per share. Equities analysts anticipate that Chevron Corporation will post 14.16 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be issued a $1.78 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. Chevron's dividend payout ratio is 123.40%.

Chevron Company Profile

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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