Chevron Corporation $CVX Stake Lifted by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Chevron Corporation (NYSE:CVX) by 18.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,504,409 shares of the oil and gas company’s stock after buying an additional 1,143,362 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Chevron were worth $1,243,931,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Midwest Capital Advisors LLC bought a new position in shares of Chevron during the first quarter worth about $25,000. Core Wealth Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter worth about $26,000. Phillip James Consulting Co. bought a new stake in Chevron in the 4th quarter valued at about $26,000. Basso Capital Management L.P. bought a new stake in Chevron in the 4th quarter valued at about $27,000. Finally, Karpus Management Inc. acquired a new position in Chevron during the 4th quarter valued at about $27,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

CVX stock opened at $202.04 on Friday. The company has a 50-day simple moving average of $187.44 and a 200 day simple moving average of $188.85. The company has a market capitalization of $399.18 billion, a P/E ratio of 19.37, a PEG ratio of 0.60 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $214.71.

Chevron (NYSE:CVX) last released its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. During the same quarter last year, the company earned $1.77 EPS. Chevron’s quarterly revenue was up 57.4% on a year-over-year basis. Sell-side analysts predict that Chevron Corporation will post 16.24 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $1.78 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.5%. Chevron’s dividend payout ratio (DPR) is 68.26%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. Barclays decreased their target price on shares of Chevron from $216.00 to $208.00 and set an “equal weight” rating for the company in a research report on Monday, August 17th. UBS Group reaffirmed a “buy” rating on shares of Chevron in a report on Tuesday, June 23rd. Sanford C. Bernstein boosted their price objective on Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Morgan Stanley increased their price objective on Chevron from $210.00 to $218.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Finally, Wolfe Research upgraded Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research report on Thursday, July 2nd. Twenty analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $207.48.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is reportedly nearing a deal to migrate all of its Venezuelan joint ventures into a new energy framework, potentially allowing greater operational control and key oilfield expansions. The company already accounts for roughly one-quarter of Venezuela’s oil production. Reuters: Chevron to complete deal in Venezuela to migrate, expand oil projects
• Positive Sentiment: Reports indicate Chevron and oil-services company Halliburton are close to agreements to invest billions of dollars in Venezuelan fields. For Chevron, the opportunity could create a long-term production-growth platform and strengthen its position if Venezuela moves further away from OPEC restrictions. Wall Street Journal: Chevron, Other U.S. Firms Near Deal to Invest Billions in Venezuelan Oil Fields
• Neutral Sentiment: Analyst-oriented coverage is comparing Chevron’s performance with TotalEnergies, while other reports highlight Chevron’s investments in nuclear-fusion technology. Fusion could eventually diversify the company beyond hydrocarbons, but the projects remain experimental and are unlikely to materially affect near-term earnings. Yahoo Finance: What Does Chevron Want From Its Nuclear Fusion Push?
• Negative Sentiment: Venezuelan opposition groups have criticized reports that U.S. companies could receive a large stake in the country’s energy industry. Political resistance, sanctions or regulatory uncertainty could delay the agreement, raise investment costs or limit the expected benefits. The Guardian: Venezuelan opposition reacts to potential U.S. oil stake
• Negative Sentiment: Dividend-focused coverage notes that Chevron’s payout remains exposed to commodity-price cycles. Although the dividend is supported by the company’s scale and balance sheet, weaker oil prices or heavy Venezuelan investment requirements could pressure future cash-flow flexibility. 247WallSt: Chevron or PepsiCo: Whose Dividend Is Standing on Thinner Ice?

Insider Activity at Chevron

In related news, Director John B. Hess sold 710,665 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the transaction, the director owned 363,711 shares in the company, valued at $70,596,305.10. This trade represents a 66.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael K. Wirth sold 317,100 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the sale, the chief executive officer directly owned 26,308 shares in the company, valued at approximately $5,273,701.68. The trade was a 92.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,152,582 shares of company stock worth $225,853,661 over the last ninety days. Insiders own 0.56% of the company’s stock.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.