USS Investment Management Ltd Buys 273,615 Shares of Chevron Co. (NYSE:CVX)

USS Investment Management Ltd raised its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 134.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 477,715 shares of the oil and gas company's stock after buying an additional 273,615 shares during the period. USS Investment Management Ltd's holdings in Chevron were worth $69,228,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CVX. Life Planning Partners Inc purchased a new stake in shares of Chevron during the fourth quarter worth about $25,000. IMG Wealth Management Inc. bought a new position in Chevron in the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron in the fourth quarter worth about $29,000. Fairway Wealth LLC lifted its holdings in Chevron by 75.9% in 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. Finally, Navigoe LLC purchased a new stake in Chevron in the fourth quarter worth about $33,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 0.2%

NYSE CVX traded down $0.23 during mid-day trading on Thursday, reaching $135.33. The stock had a trading volume of 8,867,412 shares, compared to its average volume of 8,066,033. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a market cap of $236.34 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a fifty day moving average price of $145.61 and a 200 day moving average price of $151.50. 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 data 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. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the business earned $2.93 EPS. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. On average, research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CVX. UBS Group lowered their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. Wells Fargo & Company lowered their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Redburn Atlantic restated a "sell" rating and issued a $124.00 price objective (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. TD Cowen lowered their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday, May 5th. Finally, Piper Sandler lowered their target price on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $160.24.

Chevron Company 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.