MUFG Securities EMEA plc Has $21.89 Million Position in Chevron Corporation $CVX

MUFG Securities EMEA plc lifted its holdings in shares of Chevron Corporation (NYSE:CVX) by 211.7% during the fourth quarter, HoldingsChannel reports. The firm owned 143,593 shares of the oil and gas company’s stock after acquiring an additional 97,531 shares during the quarter. MUFG Securities EMEA plc’s holdings in Chevron were worth $21,885,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Strategic Wealth Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth about $33,000. Daytona Street Capital LLC acquired a new stake in Chevron in the 4th quarter valued at approximately $44,000. Maseco LLP acquired a new stake in Chevron in the 4th quarter valued at approximately $49,000. Turning Point Benefit Group Inc. acquired a new stake in Chevron in the 3rd quarter valued at approximately $49,000. Finally, High Point Wealth Management LLC acquired a new stake in Chevron in the 4th quarter valued at approximately $53,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 0.3%

CVX stock opened at $182.44 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $192.27 and a two-hundred day moving average price of $175.69. The company has a market cap of $363.34 billion, a price-to-earnings ratio of 31.62, a P/E/G ratio of 0.60 and a beta of 0.51. Chevron Corporation has a twelve month low of $135.21 and a twelve month high of $214.71.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The firm had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $2.18 earnings per share. Analysts anticipate that Chevron Corporation will post 15.74 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be paid a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 272,624 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $189.35, for a total value of $51,621,354.40. Following the completion of the transaction, the chief executive officer directly owned 31,266 shares in the company, valued at $5,920,217.10. This trade represents a 89.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the completion of the transaction, the insider owned 11,337 shares of the company’s stock, valued at approximately $2,130,449.04. This represents a 92.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,144,224 shares of company stock valued at $218,075,038. 0.56% of the stock is owned by insiders.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron CEO Mike Wirth warned that attacks on ships in the Strait of Hormuz highlight “very real” supply risks, reinforcing the case for tighter oil markets and potentially higher prices for Chevron’s production. Ships Attacked in Strait of Hormuz This Week, Chevron Says
• Positive Sentiment: Chevron and Exxon executives also warned that falling inventories could push oil higher, which would likely support Chevron’s cash flow and earnings if crude prices continue rising. Exxon, Chevron heads warn of higher oil prices amid falling inventories
• Positive Sentiment: Chevron filed to take a 70% stake in a Greek offshore gas block, signaling continued international expansion and a larger long-term resource base. Chevron files request to acquire offshore Greek block, energy ministry says
• Positive Sentiment: Chevron said it will not pay a toll to move ships through Hormuz, showing it is holding firm on operational and geopolitical terms while the region remains volatile. Chevron won’t pay toll to move ships through Hormuz, CEO tells Bloomberg TV
• Neutral Sentiment: Chevron announced Scott A. Keller will become general counsel, while current chief legal officer R. Hewitt Pate’s retirement is expected later, a routine leadership transition with limited near-term operating impact. Chevron Names New General Counsel
• Neutral Sentiment: Market commentary and investor-interest pieces suggest Chevron remains on traders’ radar, but these items do not add major new fundamentals by themselves. Chevron Corporation (CVX) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: Oil prices softened on hopes for a U.S.-Iran truce extension, which could ease supply fears and weigh on Chevron shares if crude remains under pressure. Oil Prices Soften as Traders Bet on Renewal of US-Iran Truce
• Negative Sentiment: Draft ceasefire and shipping-normalization talks around the Strait of Hormuz could reduce the geopolitical risk premium embedded in oil prices, which may cap near-term upside for CVX. U.S. and Iran Reach Draft 60-Day Ceasefire and Nuclear Talks Framework Pending Trump Approval

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Citigroup lifted their target price on Chevron from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Scotiabank lifted their target price on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Bank of America lifted their target price on Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $220.00 target price on shares of Chevron in a research report on Tuesday, May 5th. Finally, UBS Group lifted their target price on Chevron from $218.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.70.

Chevron Company Profile

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.