Mitsubishi UFJ Asset Management Co. Ltd. Purchases 141,087 Shares of Chevron Corporation $CVX

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Chevron Corporation (NYSE:CVX) by 4.2% during the second quarter, HoldingsChannel.com reports. The fund owned 3,480,743 shares of the oil and gas company’s stock after acquiring an additional 141,087 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Chevron were worth $498,408,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Parkside Financial Bank & Trust grew its position in shares of Chevron by 15.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 17,269 shares of the oil and gas company’s stock valued at $2,473,000 after purchasing an additional 2,339 shares in the last quarter. Aviva PLC raised its position in shares of Chevron by 6.9% in the second quarter. Aviva PLC now owns 1,272,866 shares of the oil and gas company’s stock worth $182,262,000 after buying an additional 82,457 shares in the last quarter. Prospera Financial Services Inc boosted its stake in Chevron by 3.8% during the second quarter. Prospera Financial Services Inc now owns 148,189 shares of the oil and gas company’s stock valued at $21,226,000 after buying an additional 5,440 shares during the period. AGF Management Ltd. grew its position in Chevron by 53.4% during the second quarter. AGF Management Ltd. now owns 47,976 shares of the oil and gas company’s stock worth $6,870,000 after buying an additional 16,699 shares in the last quarter. Finally, AE Wealth Management LLC increased its stake in Chevron by 24.9% in the 2nd quarter. AE Wealth Management LLC now owns 423,382 shares of the oil and gas company’s stock worth $60,624,000 after acquiring an additional 84,493 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 375,000 shares of the firm’s 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 sale, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% 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, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Chevron Stock Up 1.4%

CVX opened at $155.10 on Friday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $155.55 and its 200-day moving average price is $149.62. The company has a market cap of $268.01 billion, a P/E ratio of 19.96, a P/E/G 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, beating the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter in the previous year, the company posted $2.48 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. On average, equities analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CVX. TD Cowen raised their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Bank of America upped their target price on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Barclays reduced their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Finally, UBS Group lifted their price target on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron currently has an average rating of “Hold” and an average target price of $165.40.

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.