Bank Pictet & Cie Europe AG Sells 6,334 Shares of Chevron Co. (NYSE:CVX)

Bank Pictet & Cie Europe AG lowered its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 17.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,651 shares of the oil and gas company's stock after selling 6,334 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Chevron were worth $4,960,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Chevron in the 4th quarter worth approximately $3,017,750,000. Raymond James Financial Inc. bought a new stake in shares of Chevron in the 4th quarter worth approximately $1,036,302,000. GAMMA Investing LLC raised its holdings in shares of Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock worth $904,746,000 after purchasing an additional 5,382,847 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Chevron by 17.3% in the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after purchasing an additional 2,432,756 shares during the period. Finally, Amundi raised its holdings in shares of Chevron by 27.7% in the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after purchasing an additional 1,910,262 shares during the period. Institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. BNP Paribas cut shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Piper Sandler lowered their price target on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company reduced their price objective on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. HSBC lowered shares of Chevron from a "buy" rating to a "hold" rating and reduced their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, TD Cowen reduced their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $160.24.

Chevron Stock Up 0.5%

CVX opened at $145.74 on Monday. The company has a fifty day moving average price of $138.53 and a 200-day moving average price of $149.02. The firm has a market capitalization of $254.52 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.93 EPS. Equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.69%. Chevron's dividend payout ratio (DPR) is presently 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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