PICTET BANK & TRUST Ltd Decreases Holdings in Chevron Co. (NYSE:CVX)

PICTET BANK & TRUST Ltd reduced its position in Chevron Co. (NYSE:CVX) by 8.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,900 shares of the oil and gas company’s stock after selling 270 shares during the period. PICTET BANK & TRUST Ltd’s holdings in Chevron were worth $420,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Tacita Capital Inc raised its stake in shares of Chevron by 16.7% during the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after buying an additional 65 shares during the last quarter. Wallace Capital Management Inc. increased its holdings in Chevron by 0.8% during the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock valued at $1,212,000 after acquiring an additional 65 shares in the last quarter. TFB Advisors LLC raised its position in Chevron by 2.4% during the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after acquiring an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. lifted its holdings in shares of Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after purchasing an additional 66 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC grew its position in shares of Chevron by 0.3% in the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after purchasing an additional 67 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

Shares of Chevron stock opened at $155.32 on Friday. The business’s fifty day moving average price is $151.86 and its 200 day moving average price is $150.87. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $279.12 billion, a P/E ratio of 15.98, a PEG ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the business earned $3.45 earnings per share. As a group, research analysts anticipate that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.40%. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is currently 67.08%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Barclays reduced their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Raymond James dropped their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Wells Fargo & Company cut their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, UBS Group reduced their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Company Profile

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.