Union Bancaire Privee UBP SA Buys 296,142 Shares of Chevron Co. (NYSE:CVX)

Union Bancaire Privee UBP SA boosted its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 448.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 362,228 shares of the oil and gas company's stock after acquiring an additional 296,142 shares during the period. Chevron makes up approximately 1.3% of Union Bancaire Privee UBP SA's investment portfolio, making the stock its 24th largest holding. Union Bancaire Privee UBP SA's holdings in Chevron were worth $59,296,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Life Planning Partners Inc acquired a new position in shares of Chevron during the fourth quarter worth about $25,000. IMG Wealth Management Inc. acquired a new position in shares of Chevron during the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron during the fourth quarter worth about $29,000. 10Elms LLP acquired a new position in shares of Chevron during the fourth quarter worth about $29,000. Finally, Fairway Wealth LLC boosted its position in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after buying an additional 88 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVX has been the subject of several recent research reports. Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Wells Fargo & Company reduced their price target on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a research report on Tuesday, May 6th. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, BNP Paribas cut Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of "Hold" and a consensus target price of $160.24.

Chevron Stock Performance

Shares of NYSE CVX traded up $0.77 during trading hours on Friday, reaching $145.74. 14,126,704 shares of the stock were exchanged, compared to its average volume of 8,174,592. The firm has a market capitalization of $254.52 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52 week low of $132.04 and a 52 week high of $168.96. The stock's fifty day simple moving average is $138.53 and its 200 day simple moving average is $149.20.

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

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.69%. Chevron's dividend payout ratio (DPR) is currently 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.