UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Acquires 573,072 Shares of Chevron Corporation $CVX

Key Points

• UBS Asset Management Americas acquired an additional 573,072 shares of Chevron, increasing its total holdings to 8,497,288 shares, valued at approximately $1.42 billion.
• Certain institutional investors have significantly increased their holdings in Chevron, with Woodline Partners LP raising its stake by 40.7% during the first quarter.
• Chevron announced a quarterly dividend of $1.71 per share, yielding 4.4%, which will be paid on September 10th to shareholders on record by August 19th.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 7.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,497,288 shares of the oil and gas company's stock after acquiring an additional 573,072 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.49% of Chevron worth $1,421,511,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Woodline Partners LP lifted its holdings in shares of Chevron by 40.7% in the 1st quarter. Woodline Partners LP now owns 141,200 shares of the oil and gas company's stock valued at $23,621,000 after acquiring an additional 40,832 shares during the last quarter. McIlrath & Eck LLC lifted its holdings in shares of Chevron by 35.2% in the 1st quarter. McIlrath & Eck LLC now owns 2,706 shares of the oil and gas company's stock valued at $453,000 after acquiring an additional 705 shares during the last quarter. Logan Capital Management Inc. lifted its holdings in shares of Chevron by 3.9% in the 1st quarter. Logan Capital Management Inc. now owns 182,650 shares of the oil and gas company's stock valued at $30,556,000 after acquiring an additional 6,919 shares during the last quarter. Peloton Wealth Strategists bought a new position in shares of Chevron in the 1st quarter valued at about $233,000. Finally, Faithward Advisors LLC lifted its holdings in shares of Chevron by 10.7% in the 1st quarter. Faithward Advisors LLC now owns 4,920 shares of the oil and gas company's stock valued at $823,000 after acquiring an additional 475 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Stock Performance

Shares of NYSE:CVX opened at $154.17 on Tuesday. The firm has a market cap of $266.41 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 2.28 and a beta of 0.90. The firm's 50 day simple moving average is $153.91 and its 200-day simple moving average is $148.78. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company's quarterly revenue was down 12.4% compared to the same quarter last year. During the same period last year, the company posted $2.55 earnings per share. As a group, equities analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron's dividend payout ratio (DPR) is 88.03%.

Insider Buying and Selling

In other news, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. TD Cowen increased their price target on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a report on Monday, August 4th. Raymond James Financial reissued an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. Barclays reissued an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Wells Fargo & Company reissued an "overweight" rating and issued a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Finally, Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $163.95.

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.

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