China Universal Asset Management Co. Ltd. Buys 2,311 Shares of Chevron Co. (NYSE:CVX)

China Universal Asset Management Co. Ltd. raised its stake in shares of Chevron Co. (NYSE:CVX) by 36.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,602 shares of the oil and gas company’s stock after purchasing an additional 2,311 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Chevron were worth $1,246,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Rational Advisors LLC purchased a new position in Chevron during the 3rd quarter valued at approximately $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron during the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new position in shares of Chevron in the third quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron in the third quarter worth $31,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in Chevron during the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

Chevron Trading Down 4.5 %

NYSE CVX opened at $149.21 on Friday. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market capitalization of $268.14 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12. The company’s 50-day simple moving average is $153.19 and its two-hundred day simple moving average is $151.14.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 13.15% and a net margin of 8.44%. During the same period in the previous year, the firm earned $3.45 EPS. Equities analysts forecast that Chevron Co. will post 10.18 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.58%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is presently 71.65%.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Royal Bank of Canada raised their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Truist Financial boosted their target price on Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

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.