Banque Pictet & Cie SA Sells 16,679 Shares of Chevron Corporation (NYSE:CVX)

Banque Pictet & Cie SA cut its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 9.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,774 shares of the oil and gas company's stock after selling 16,679 shares during the period. Banque Pictet & Cie SA's holdings in Chevron were worth $27,063,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Norges Bank bought a new position in shares of Chevron in the fourth quarter worth about $3,017,750,000. GAMMA Investing LLC raised its stake in shares of Chevron by 21,191.5% in the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock worth $904,746,000 after acquiring an additional 5,382,847 shares during the last quarter. Capital World Investors raised its stake in shares of Chevron by 11.4% in the fourth quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company's stock worth $2,039,288,000 after acquiring an additional 1,440,808 shares during the last quarter. Northern Trust Corp raised its stake in shares of Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after acquiring an additional 1,394,091 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Chevron by 6.9% in the fourth quarter. Invesco Ltd. now owns 15,027,474 shares of the oil and gas company's stock valued at $2,176,579,000 after acquiring an additional 964,426 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVX. DZ Bank cut Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a report on Tuesday, May 6th. UBS Group decreased their price target on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. TD Cowen dropped their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Barclays upped their target price on shares of Chevron from $152.00 to $156.00 and gave the company an "equal weight" rating in a research report on Monday. Finally, BNP Paribas cut Chevron to a "cautious" rating in a report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, Chevron has an average rating of "Hold" and an average target price of $160.65.

Chevron Stock Up 0.5%

Shares of Chevron stock traded up $0.83 during trading on Thursday, reaching $153.85. The stock had a trading volume of 4,796,569 shares, compared to its average volume of 8,325,833. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $268.68 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 2.64 and a beta of 0.83. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a fifty day moving average price of $141.92 and a two-hundred day moving average price of $148.25.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business's revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.93 EPS. Sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.45%. Chevron's dividend payout ratio is currently 78.17%.

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.