MUFG Americas Holdings Corp reduced its stake in shares of Chevron Corporation (NYSE:CVX) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 551,697 shares of the oil and gas company’s stock after selling 3,982 shares during the period. Chevron Corporation makes up about 2.0% of MUFG Americas Holdings Corp’s portfolio, making the stock its 6th largest position. MUFG Americas Holdings Corp’s holdings in Chevron Corporation were worth $59,235,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Busey Trust CO increased its position in Chevron Corporation by 0.6% in the first quarter. Busey Trust CO now owns 125,341 shares of the oil and gas company’s stock valued at $13,458,000 after buying an additional 721 shares during the last quarter. Pictet Asset Management Ltd. increased its position in Chevron Corporation by 8.7% in the first quarter. Pictet Asset Management Ltd. now owns 1,205,308 shares of the oil and gas company’s stock valued at $129,414,000 after buying an additional 96,557 shares during the last quarter. Xact Kapitalforvaltning AB increased its position in Chevron Corporation by 8.5% in the first quarter. Xact Kapitalforvaltning AB now owns 146,957 shares of the oil and gas company’s stock valued at $15,779,000 after buying an additional 11,537 shares during the last quarter. Trust Co. of Vermont increased its position in Chevron Corporation by 1.9% in the first quarter. Trust Co. of Vermont now owns 106,082 shares of the oil and gas company’s stock valued at $11,390,000 after buying an additional 2,029 shares during the last quarter. Finally, Princeton Alpha Management LP acquired a new position in Chevron Corporation during the first quarter valued at about $422,000. 62.84% of the stock is owned by institutional investors and hedge funds.

Chevron Corporation (NYSE CVX) traded up 0.14% during midday trading on Thursday, reaching $107.88. 1,397,454 shares of the company’s stock were exchanged. The company has a market cap of $204.43 billion, a price-to-earnings ratio of 34.98 and a beta of 1.23. Chevron Corporation has a 12-month low of $97.53 and a 12-month high of $119.00. The firm has a 50-day moving average price of $106.68 and a 200 day moving average price of $107.28.

Chevron Corporation (NYSE:CVX) last released its earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The business had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. During the same period last year, the company earned ($0.78) earnings per share. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, analysts expect that Chevron Corporation will post $3.83 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be given a dividend of $1.08 per share. The ex-dividend date is Wednesday, August 16th. This represents a $4.32 annualized dividend and a dividend yield of 4.01%. Chevron Corporation’s dividend payout ratio (DPR) is 140.26%.

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CVX has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Chevron Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. BidaskClub downgraded shares of Chevron Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. HSBC Holdings plc raised shares of Chevron Corporation from a “hold” rating to a “buy” rating and dropped their price target for the company from $124.00 to $119.00 in a research note on Monday, June 5th. They noted that the move was a valuation call. BMO Capital Markets set a $120.00 price target on shares of Chevron Corporation and gave the company a “buy” rating in a research note on Sunday, July 30th. Finally, Macquarie downgraded shares of Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 price target for the company. in a research note on Wednesday, June 21st. Three analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $116.97.

In related news, insider James William Johnson sold 31,000 shares of Chevron Corporation stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the completion of the sale, the insider now directly owns 11,000 shares in the company, valued at $1,217,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linnet F. Deily sold 2,312 shares of Chevron Corporation stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total value of $248,262.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,312 shares of company stock valued at $8,008,343. Corporate insiders own 0.38% of the company’s stock.

Chevron Corporation Company Profile

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

Institutional Ownership by Quarter for Chevron Corporation (NYSE:CVX)

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