MUFG Securities EMEA plc Acquires 97,531 Shares of Chevron Corporation $CVX

Key Points

• MUFG Securities EMEA plc sharply increased its Chevron stake in Q4, boosting holdings by 211.7% to 143,593 shares valued at about $21.9 million.
• Wall Street sentiment on Chevron remains constructive, with several firms raising price targets and the stock carrying a consensus rating of “Moderate Buy” and an average target of $205.70.
• Chevron’s latest quarter beat earnings expectations, reporting $1.41 EPS versus the $1.00 estimate, and the company also announced a $1.78 quarterly dividend payable June 10 for a 3.9% annualized yield.

MUFG Securities EMEA plc lifted its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 211.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 143,593 shares of the oil and gas company's stock after purchasing an additional 97,531 shares during the period. MUFG Securities EMEA plc's holdings in Chevron were worth $21,885,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Bearing Point Capital LLC boosted its holdings in Chevron by 6.6% in the fourth quarter. Bearing Point Capital LLC now owns 49,649 shares of the oil and gas company's stock valued at $7,567,000 after acquiring an additional 3,074 shares during the last quarter. Texas Yale Capital Corp. boosted its holdings in Chevron by 6.4% in the fourth quarter. Texas Yale Capital Corp. now owns 46,438 shares of the oil and gas company's stock valued at $7,078,000 after acquiring an additional 2,792 shares during the last quarter. Catalyst Capital Advisors LLC boosted its holdings in Chevron by 16.0% in the fourth quarter. Catalyst Capital Advisors LLC now owns 19,998 shares of the oil and gas company's stock valued at $3,048,000 after acquiring an additional 2,764 shares during the last quarter. Impact Partnership Wealth LLC boosted its holdings in Chevron by 23.1% in the fourth quarter. Impact Partnership Wealth LLC now owns 7,142 shares of the oil and gas company's stock valued at $1,089,000 after acquiring an additional 1,342 shares during the last quarter. Finally, Norges Bank bought a new position in Chevron in the fourth quarter valued at about $3,727,586,000. Institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CVX. Bank of America raised their price target on Chevron from $188.00 to $206.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Tudor Pickering upgraded Chevron from a "hold" rating to a "buy" rating and set a $225.00 price target on the stock in a report on Thursday, April 9th. Citigroup raised their price target on Chevron from $210.00 to $235.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. Piper Sandler raised their price target on Chevron from $179.00 to $242.00 and gave the company an "overweight" rating in a report on Thursday, March 12th. Finally, TD Cowen raised their price target on Chevron from $204.00 to $205.00 and gave the company a "hold" rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Chevron currently has an average rating of "Moderate Buy" and a consensus price target of $205.70.

Chevron Price Performance

Shares of CVX opened at $182.44 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 1 year low of $135.21 and a 1 year high of $214.71. The stock has a market cap of $363.34 billion, a P/E ratio of 31.62, a price-to-earnings-growth ratio of 0.60 and a beta of 0.51. The stock's 50-day moving average price is $192.27 and its two-hundred day moving average price is $175.69.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion for the quarter, compared to analysts' expectations of $51.86 billion. During the same quarter last year, the business earned $2.18 earnings per share. The company's revenue was up 2.1% compared to the same quarter last year. On average, equities analysts predict that Chevron Corporation will post 15.74 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be issued a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. Chevron's dividend payout ratio (DPR) is 123.40%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron CEO Mike Wirth warned that attacks on ships in the Strait of Hormuz highlight “very real” supply risks, reinforcing the case for tighter oil markets and potentially higher prices for Chevron’s production. Ships Attacked in Strait of Hormuz This Week, Chevron Says
• Positive Sentiment: Chevron and Exxon executives also warned that falling inventories could push oil higher, which would likely support Chevron’s cash flow and earnings if crude prices continue rising. Exxon, Chevron heads warn of higher oil prices amid falling inventories
• Positive Sentiment: Chevron filed to take a 70% stake in a Greek offshore gas block, signaling continued international expansion and a larger long-term resource base. Chevron files request to acquire offshore Greek block, energy ministry says
• Positive Sentiment: Chevron said it will not pay a toll to move ships through Hormuz, showing it is holding firm on operational and geopolitical terms while the region remains volatile. Chevron won't pay toll to move ships through Hormuz, CEO tells Bloomberg TV
• Neutral Sentiment: Chevron announced Scott A. Keller will become general counsel, while current chief legal officer R. Hewitt Pate’s retirement is expected later, a routine leadership transition with limited near-term operating impact. Chevron Names New General Counsel
• Neutral Sentiment: Market commentary and investor-interest pieces suggest Chevron remains on traders’ radar, but these items do not add major new fundamentals by themselves. Chevron Corporation (CVX) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: Oil prices softened on hopes for a U.S.-Iran truce extension, which could ease supply fears and weigh on Chevron shares if crude remains under pressure. Oil Prices Soften as Traders Bet on Renewal of US-Iran Truce
• Negative Sentiment: Draft ceasefire and shipping-normalization talks around the Strait of Hormuz could reduce the geopolitical risk premium embedded in oil prices, which may cap near-term upside for CVX. U.S. and Iran Reach Draft 60-Day Ceasefire and Nuclear Talks Framework Pending Trump Approval

Insider Activity

In other Chevron news, insider Andrew Benjamin Walz sold 11,600 shares of the firm's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $188.58, for a total transaction of $2,187,528.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael K. Wirth sold 272,624 shares of the firm's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the transaction, the chief executive officer owned 31,266 shares in the company, valued at approximately $5,920,217.10. This trade represents a 89.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,144,224 shares of company stock valued at $218,075,038. Insiders own 0.56% of the company's stock.

Chevron 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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