Universal Beteiligungs und Servicegesellschaft mbH Purchases New Holdings in Chevron Co. (NYSE:CVX)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Chevron Co. (NYSE:CVX) in the fourth quarter, Holdings Channel reports. The fund acquired 589,039 shares of the oil and gas company’s stock, valued at approximately $85,316,000.

Other hedge funds also recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new stake in shares of Chevron during the fourth quarter worth $25,000. IMG Wealth Management Inc. purchased a new position in Chevron during the 4th quarter worth $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron in the 4th quarter worth $29,000. 10Elms LLP acquired a new stake in shares of Chevron in the 4th quarter worth $29,000. Finally, Fairway Wealth LLC boosted its holdings in shares of Chevron by 75.9% in 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 owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Redburn Atlantic reissued a “sell” rating and set a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. HSBC cut Chevron from a “buy” rating to a “hold” rating and reduced their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Mizuho dropped their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Finally, Hsbc Global Res downgraded Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $160.24.

Chevron Stock Up 1.0%

CVX stock opened at $136.66 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company’s 50 day simple moving average is $144.12 and its 200-day simple moving average is $151.03. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The firm has a market capitalization of $238.66 billion, a PE ratio of 14.06, a P/E/G ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for 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 was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.93 EPS. Equities analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio is presently 78.17%.

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.