UniSuper Management Pty Ltd Has $17.16 Million Stake in Chevron Corporation $CVX

Key Points

• UniSuper Management Pty Ltd increased its stake in Chevron Corporation to $17.16 million, owning 102,556 shares after acquiring an additional 6,200 shares.
• Wall Street analysts currently rate Chevron's stock with an average rating of "Hold," while price targets from various firms range from $155.00 to $186.00.
• Chevron announced a quarterly dividend of $1.71, with the next payment scheduled for September 10th, resulting in an annualized yield of 4.4%.

UniSuper Management Pty Ltd boosted its stake in Chevron Corporation (NYSE:CVX - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,556 shares of the oil and gas company's stock after buying an additional 6,200 shares during the quarter. UniSuper Management Pty Ltd's holdings in Chevron were worth $17,157,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CVX. GQG Partners LLC acquired a new position in Chevron in the first quarter worth $1,466,751,000. Nuveen LLC acquired a new position in Chevron in the first quarter worth $1,362,232,000. GAMMA Investing LLC boosted its stake in Chevron by 21,191.5% in the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock worth $904,746,000 after purchasing an additional 5,382,847 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock worth $5,592,263,000 after purchasing an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Chevron by 141.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company's stock worth $316,483,000 after purchasing an additional 1,107,628 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. HSBC lowered Chevron from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Melius Research started coverage on Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price objective on the stock. Mizuho cut their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Finally, TD Cowen upped their price target on Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research note on Monday, August 4th. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $163.95.

Chevron Trading Down 2.4%

Shares of CVX opened at $153.83 on Monday. The stock's fifty day simple moving average is $153.69 and its 200-day simple moving average is $148.80. The firm has a market capitalization of $265.81 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 2.28 and a beta of 0.90. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

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

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Tuesday, August 19th. Chevron's dividend payout ratio is currently 88.03%.

Insider Transactions at Chevron

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

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.

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