Chevron Co. (NYSE:CVX) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Chevron Co. (NYSE:CVX - Free Report) by 1.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,924,216 shares of the oil and gas company's stock after purchasing an additional 133,360 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.44% of Chevron worth $1,147,743,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. USS Investment Management Ltd boosted its holdings in Chevron by 134.1% in the 4th quarter. USS Investment Management Ltd now owns 477,715 shares of the oil and gas company's stock worth $69,228,000 after buying an additional 273,615 shares during the period. Waverly Advisors LLC boosted its holdings in shares of Chevron by 24.7% during the 4th quarter. Waverly Advisors LLC now owns 77,200 shares of the oil and gas company's stock valued at $11,182,000 after purchasing an additional 15,274 shares during the last quarter. Wellington Wealth Strategies LLC. bought a new position in shares of Chevron during the 4th quarter valued at about $277,000. Whelan Financial boosted its holdings in shares of Chevron by 2.7% during the 4th quarter. Whelan Financial now owns 3,117 shares of the oil and gas company's stock valued at $452,000 after purchasing an additional 83 shares during the last quarter. Finally, William B. Walkup & Associates Inc. boosted its holdings in shares of Chevron by 2.1% during the 4th quarter. William B. Walkup & Associates Inc. now owns 5,135 shares of the oil and gas company's stock valued at $744,000 after purchasing an additional 108 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVX has been the subject of several research reports. Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the company from $160.00 to $143.00 in a report on Friday, April 11th. Redburn Atlantic reissued a "sell" rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Finally, Truist Financial lowered their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Chevron has a consensus rating of "Hold" and a consensus target price of $160.24.

Chevron Stock Up 1.0%

Shares of Chevron stock traded up $1.37 during trading on Friday, hitting $136.66. 7,021,493 shares of the stock were exchanged, compared to its average volume of 8,067,265. The stock has a market cap of $238.66 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The firm's 50-day moving average price is $144.66 and its 200 day moving average price is $151.25. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period in the previous year, the company earned $2.93 earnings per share. Chevron's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 5.01%. Chevron's dividend payout ratio (DPR) is presently 78.17%.

About Chevron

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.