Union Bancaire Privee UBP SA Purchases 296,142 Shares of Chevron Co. (NYSE:CVX)

Union Bancaire Privee UBP SA boosted its position in shares of Chevron Co. (NYSE:CVX) by 448.1% in the first quarter, HoldingsChannel reports. The fund owned 362,228 shares of the oil and gas company’s stock after purchasing an additional 296,142 shares during the quarter. Chevron makes up 1.3% of Union Bancaire Privee UBP SA’s 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 reporting period.

Several other institutional investors also recently bought and sold shares of the company. Life Planning Partners Inc purchased a new position in Chevron during the 4th quarter worth $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron in the fourth quarter worth about $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Chevron during the fourth quarter worth about $29,000. 10Elms LLP acquired a new position in shares of Chevron during the fourth quarter valued at about $29,000. Finally, Fairway Wealth LLC increased its holdings in shares of Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 88 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CVX. UBS Group lowered their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Redburn Atlantic reiterated a “sell” rating and set a $124.00 price objective (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Piper Sandler cut their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. HSBC lowered Chevron from a “buy” rating to a “hold” rating and reduced their target price for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $160.24.

Chevron Trading Up 1.0%

Shares of Chevron stock opened at $144.83 on Thursday. The firm has a 50-day simple moving average of $138.24 and a two-hundred day simple moving average of $149.42. 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 Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a market cap of $252.93 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. 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 business earned $2.93 EPS. As a group, equities analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.72%. The ex-dividend date 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.