Union Bancaire Privee UBP SA Boosts Stock Position in Chevron Co. (NYSE:CVX)

Union Bancaire Privee UBP SA boosted its holdings in shares of Chevron Co. (NYSE:CVX) by 448.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 362,228 shares of the oil and gas company’s stock after purchasing an additional 296,142 shares during the quarter. Chevron comprises about 1.3% of Union Bancaire Privee UBP SA’s investment portfolio, making the stock its 24th largest position. Union Bancaire Privee UBP SA’s holdings in Chevron were worth $59,296,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Ferguson Wellman Capital Management Inc. boosted its stake in Chevron by 16.6% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 730,975 shares of the oil and gas company’s stock worth $122,285,000 after buying an additional 104,006 shares during the period. Defined Financial Planning LLC bought a new stake in shares of Chevron in the 1st quarter worth about $209,000. FMB Wealth Management lifted its holdings in shares of Chevron by 90.0% in the 1st quarter. FMB Wealth Management now owns 8,215 shares of the oil and gas company’s stock worth $1,374,000 after acquiring an additional 3,892 shares during the last quarter. Davis Investment Partners LLC boosted its stake in shares of Chevron by 162.4% during the 1st quarter. Davis Investment Partners LLC now owns 5,906 shares of the oil and gas company’s stock worth $988,000 after purchasing an additional 3,655 shares during the period. Finally, Net Worth Advisory Group grew its holdings in Chevron by 31.0% during the 1st quarter. Net Worth Advisory Group now owns 6,002 shares of the oil and gas company’s stock valued at $1,004,000 after purchasing an additional 1,419 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on CVX shares. DZ Bank lowered Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price for the company. in a research report on Tuesday, May 6th. Mizuho dropped their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Piper Sandler reduced their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. TD Cowen decreased their target price on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, May 5th. Finally, Redburn Atlantic restated a “sell” rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Trading Up 1.0%

NYSE:CVX opened at $144.83 on Thursday. The firm has a 50-day simple moving average of $138.24 and a 200-day simple moving average of $149.42. Chevron Co. has a one year low of $132.04 and a one year high of $168.96. The firm has a market cap of $252.93 billion, a P/E ratio of 14.90, 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 (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates 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%. Chevron’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.93 earnings per share. Equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s payout ratio is 78.17%.

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.