Universal Beteiligungs und Servicegesellschaft mbH Acquires New Stake in Chevron Co. (NYSE:CVX)

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Chevron Co. (NYSE:CVX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 589,039 shares of the oil and gas company's stock, valued at approximately $85,316,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. TFB Advisors LLC boosted its holdings in shares of Chevron by 2.4% during the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock worth $411,000 after acquiring an additional 66 shares during the period. W.H. Cornerstone Investments Inc. boosted its holdings in shares of Chevron by 1.4% during the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock worth $677,000 after acquiring an additional 66 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Chevron by 0.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock worth $2,207,000 after acquiring an additional 66 shares during the period. Western Pacific Wealth Management LP boosted its holdings in shares of Chevron by 14.9% during the fourth quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company's stock worth $75,000 after acquiring an additional 67 shares during the period. Finally, Berkeley Capital Partners LLC boosted its holdings in shares of Chevron by 0.4% during the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock worth $2,572,000 after acquiring an additional 67 shares during the period. Hedge funds and other institutional investors own 72.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVX. Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and cut their price target for the company from $160.00 to $143.00 in a research note on Friday, April 11th. TD Cowen cut their price target on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. HSBC cut Chevron from a "buy" rating to a "hold" rating and cut their price target for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Raymond James cut their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. Finally, Barclays cut Chevron from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $160.24.

Chevron Price Performance

Shares of NYSE:CVX traded down $1.78 during trading on Wednesday, hitting $136.05. 6,859,635 shares of the company were exchanged, compared to its average volume of 8,082,541. The business's 50 day moving average is $143.58 and its 200-day moving average is $150.94. The company has a market capitalization of $237.60 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1-year low of $132.04 and a 1-year high of $168.96.

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 (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.93 earnings per share. Equities analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 5.03%. Chevron's dividend payout ratio (DPR) is presently 78.17%.

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.