UBS Asset Management Americas Inc. Boosts Stake in Chevron Co. (CVX)

UBS Asset Management Americas Inc. grew its stake in shares of Chevron Co. (NYSE:CVX) by 11.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,253,062 shares of the oil and gas company’s stock after buying an additional 732,739 shares during the quarter. Chevron accounts for 0.8% of UBS Asset Management Americas Inc.’s investment portfolio, making the stock its 18th biggest position. UBS Asset Management Americas Inc. owned 0.38% of Chevron worth $908,011,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of CVX. Koshinski Asset Management Inc. raised its position in Chevron by 8.0% in the 4th quarter. Koshinski Asset Management Inc. now owns 14,572 shares of the oil and gas company’s stock worth $1,824,000 after purchasing an additional 1,077 shares during the period. Bogart Wealth LLC grew its holdings in Chevron by 3.7% in the 4th quarter. Bogart Wealth LLC now owns 15,316 shares of the oil and gas company’s stock worth $1,917,000 after acquiring an additional 542 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Chevron by 2.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 8,453,505 shares of the oil and gas company’s stock worth $1,058,082,000 after acquiring an additional 234,920 shares during the last quarter. Berkshire Asset Management LLC PA grew its holdings in Chevron by 42.7% in the 4th quarter. Berkshire Asset Management LLC PA now owns 25,234 shares of the oil and gas company’s stock worth $3,159,000 after acquiring an additional 7,550 shares during the last quarter. Finally, FTB Advisors Inc. grew its holdings in Chevron by 90.9% in the 4th quarter. FTB Advisors Inc. now owns 48,763 shares of the oil and gas company’s stock worth $6,127,000 after acquiring an additional 23,221 shares during the last quarter. Hedge funds and other institutional investors own 64.99% of the company’s stock.

In related news, CEO Michael K. Wirth sold 130,000 shares of the business’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $128.00, for a total transaction of $16,640,000.00. Following the sale, the chief executive officer now owns 130,000 shares of the company’s stock, valued at $16,640,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction dated Tuesday, April 17th. The stock was sold at an average price of $121.97, for a total transaction of $3,110,235.00. Following the sale, the vice president now directly owns 25,500 shares in the company, valued at approximately $3,110,235. The disclosure for this sale can be found here. Insiders have sold 205,000 shares of company stock worth $26,148,950 in the last three months. 0.46% of the stock is currently owned by insiders.

Shares of CVX opened at $129.84 on Monday. Chevron Co. has a 1-year low of $102.55 and a 1-year high of $133.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.04. The stock has a market cap of $248.03 billion, a PE ratio of 28.41, a P/E/G ratio of 2.49 and a beta of 1.14.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 27th. The oil and gas company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.45 by $0.45. Chevron had a net margin of 6.95% and a return on equity of 5.83%. The business had revenue of $37.76 billion for the quarter, compared to analyst estimates of $40.34 billion. During the same quarter in the previous year, the firm posted $1.23 earnings per share. Chevron’s quarterly revenue was up 13.0% on a year-over-year basis. research analysts expect that Chevron Co. will post 7.44 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Friday, May 18th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.45%. The ex-dividend date is Thursday, May 17th. Chevron’s payout ratio is currently 121.08%.

A number of brokerages have issued reports on CVX. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Morgan Stanley raised their price target on shares of Chevron from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Zacks Investment Research lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 17th. Credit Suisse Group reissued a “neutral” rating and issued a $130.00 price target (up previously from $123.00) on shares of Chevron in a report on Tuesday, January 23rd. Finally, Piper Jaffray reissued a “buy” rating and issued a $153.00 price target on shares of Chevron in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $131.92.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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