Banque Cantonale Vaudoise Purchases Shares of 49,971 Chevron Corporation (NYSE:CVX)

Key Points

• Banque Cantonale Vaudoise acquired a new stake in Chevron Corporation, purchasing 49,971 shares valued at approximately $8.36 million in the first quarter.
• Research firms have mixed views on Chevron, with UBS cutting its target price from $194 to $185, while Wells Fargo raised it from $165 to $178, indicating a consensus rating of "Hold".
• Chevron declared a quarterly dividend of $1.71, representing an annualized yield of 4.38%, with a payout ratio of 78.17%.

Banque Cantonale Vaudoise purchased a new position in Chevron Corporation (NYSE:CVX - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 49,971 shares of the oil and gas company's stock, valued at approximately $8,359,000.

A number of other institutional investors also recently made changes to their positions in the stock. Federated Hermes Inc. lifted its stake in shares of Chevron by 8.2% in the 1st quarter. Federated Hermes Inc. now owns 3,137,937 shares of the oil and gas company's stock worth $524,946,000 after acquiring an additional 238,735 shares during the period. Geneos Wealth Management Inc. lifted its stake in Chevron by 65.3% during the first quarter. Geneos Wealth Management Inc. now owns 65,082 shares of the oil and gas company's stock valued at $10,888,000 after purchasing an additional 25,720 shares during the last quarter. N.E.W. Advisory Services LLC lifted its stake in Chevron by 15.3% during the first quarter. N.E.W. Advisory Services LLC now owns 2,396 shares of the oil and gas company's stock valued at $401,000 after purchasing an additional 318 shares during the last quarter. TCTC Holdings LLC lifted its stake in Chevron by 5.9% during the first quarter. TCTC Holdings LLC now owns 51,878 shares of the oil and gas company's stock valued at $8,679,000 after purchasing an additional 2,898 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in Chevron by 60,300.0% during the first quarter. Meeder Asset Management Inc. now owns 604 shares of the oil and gas company's stock valued at $101,000 after purchasing an additional 603 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 0.2%

CVX stock traded down $0.29 during trading hours on Friday, hitting $151.35. The company's stock had a trading volume of 8,383,070 shares, compared to its average volume of 9,477,481. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $264.31 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 2.42 and a beta of 0.83. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a 50 day moving average price of $146.57 and a two-hundred day moving average price of $148.90.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. Chevron's quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.55 EPS. On average, equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Piper Sandler restated an "overweight" rating on shares of Chevron in a report on Tuesday, July 15th. BNP Paribas lowered shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Raymond James Financial restated an "outperform" rating on shares of Chevron in a report on Friday. Finally, Evercore ISI restated an "outperform" rating and set a $180.00 price target on shares of Chevron in a report on Thursday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, Chevron has a consensus rating of "Hold" and an average price target of $163.18.

Chevron 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.