Bank Julius Baer & Co. Ltd Zurich Sells 27,775 Shares of Chevron Corporation (NYSE:CVX)

Bank Julius Baer & Co. Ltd Zurich reduced its stake in Chevron Corporation (NYSE:CVX - Free Report) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 488,965 shares of the oil and gas company's stock after selling 27,775 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Chevron were worth $88,275,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Garner Asset Management Corp boosted its stake in shares of Chevron by 9.7% during the 1st quarter. Garner Asset Management Corp now owns 28,466 shares of the oil and gas company's stock worth $4,762,000 after purchasing an additional 2,516 shares during the period. Financial Sense Advisors Inc. boosted its stake in shares of Chevron by 38.1% during the 1st quarter. Financial Sense Advisors Inc. now owns 18,874 shares of the oil and gas company's stock worth $3,157,000 after purchasing an additional 5,208 shares during the period. Oakwell Private Wealth Management LLC boosted its stake in shares of Chevron by 7.4% during the 1st quarter. Oakwell Private Wealth Management LLC now owns 3,074 shares of the oil and gas company's stock worth $514,000 after purchasing an additional 212 shares during the period. PFG Advisors boosted its stake in shares of Chevron by 10.0% during the 1st quarter. PFG Advisors now owns 41,302 shares of the oil and gas company's stock worth $6,909,000 after purchasing an additional 3,764 shares during the period. Finally, Ignite Planners LLC boosted its position in Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock valued at $2,060,000 after buying an additional 1,519 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Barclays restated an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. HSBC lowered shares of 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. Redburn Atlantic restated a "sell" rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. UBS Group reduced their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $165.00 price target (up previously from $164.00) on shares of Chevron in a report on Thursday, June 26th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $161.31.

Chevron Stock Performance

NYSE CVX traded down $0.83 during mid-day trading on Tuesday, reaching $148.85. 5,033,839 shares of the stock were exchanged, compared to its average volume of 8,576,070. The business's 50 day moving average is $144.04 and its 200-day moving average is $148.68. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a market capitalization of $259.95 billion, a P/E ratio of 17.03, a P/E/G ratio of 2.48 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.93 earnings per share. On average, equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio (DPR) is 78.17%.

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.

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