Mitsubishi UFJ Trust & Banking Corp Decreases Holdings in Chevron Corporation $CVX

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in Chevron Corporation (NYSE:CVX) by 4.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 783,054 shares of the oil and gas company’s stock after selling 32,400 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Chevron were worth $112,126,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CVX. Wealth Quarterback LLC boosted its position in Chevron by 19.2% during the second quarter. Wealth Quarterback LLC now owns 9,324 shares of the oil and gas company’s stock valued at $1,335,000 after buying an additional 1,503 shares during the period. SBI Securities Co. Ltd. lifted its stake in shares of Chevron by 15.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 33,677 shares of the oil and gas company’s stock valued at $4,822,000 after acquiring an additional 4,611 shares during the last quarter. Ironwood Investment Counsel LLC boosted its holdings in Chevron by 3.5% during the 2nd quarter. Ironwood Investment Counsel LLC now owns 16,246 shares of the oil and gas company’s stock valued at $2,326,000 after acquiring an additional 545 shares during the period. National Pension Service boosted its holdings in Chevron by 4.0% during the 2nd quarter. National Pension Service now owns 3,461,940 shares of the oil and gas company’s stock valued at $495,715,000 after acquiring an additional 133,868 shares during the period. Finally, Glynn Capital Management LLC bought a new position in Chevron during the 2nd quarter worth approximately $843,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.3%

NYSE:CVX opened at $156.05 on Wednesday. The company’s 50 day moving average price is $155.33 and its 200-day moving average price is $150.04. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The stock has a market cap of $269.65 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The company had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.48 EPS. On average, equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be paid a $1.71 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s payout ratio is currently 96.20%.

Insiders Place Their Bets

In related news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the subject of several recent research reports. Evercore ISI reiterated an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Morgan Stanley lifted their target price on shares of Chevron from $174.00 to $177.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Wells Fargo & Company assumed coverage on shares of Chevron in a research report on Friday, October 17th. They set an “overweight” rating and a $190.00 price target for the company. Scotiabank raised their price target on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Chevron has an average rating of “Hold” and an average target price of $165.45.

About Chevron

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.