United Asset Strategies Inc. Purchases 1,941 Shares of Chevron Co. (NYSE:CVX)

United Asset Strategies Inc. boosted its position in shares of Chevron Co. (NYSE:CVX) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,321 shares of the oil and gas company’s stock after acquiring an additional 1,941 shares during the period. United Asset Strategies Inc.’s holdings in Chevron were worth $11,923,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CVX. Legacy Investment Solutions LLC acquired a new position in shares of Chevron during the 3rd quarter worth about $29,000. Rational Advisors LLC bought a new position in Chevron in the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron during the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron in the third quarter valued at approximately $31,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Chevron in the third quarter worth $47,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CVX. Barclays increased their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Royal Bank of Canada upped their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. UBS Group lifted their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company upped their target price on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Chevron Stock Up 1.0 %

Shares of NYSE CVX opened at $157.20 on Tuesday. Chevron Co. has a 52-week low of $135.37 and a 52-week 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 business has a fifty day moving average of $153.81 and a two-hundred day moving average of $151.11. The stock has a market cap of $282.50 billion, a PE ratio of 17.27, a PEG ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the firm posted $3.05 EPS. As a group, equities research analysts expect that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Monday, November 18th. Chevron’s payout ratio is presently 71.65%.

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.