Banque Pictet & Cie SA Trims Position in Chevron Corporation (NYSE:CVX)

Banque Pictet & Cie SA lowered its position in Chevron Corporation (NYSE:CVX - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 161,774 shares of the oil and gas company's stock after selling 16,679 shares during the quarter. Banque Pictet & Cie SA's holdings in Chevron were worth $27,063,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sage Capital Advisors llc grew its holdings in Chevron by 2.2% during the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock worth $7,097,000 after acquiring an additional 919 shares in the last quarter. CCG Wealth Management LLC increased its position in Chevron by 2.3% during the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after purchasing an additional 145 shares during the period. Oregon Public Employees Retirement Fund increased its position in Chevron by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after purchasing an additional 675 shares during the period. Pines Wealth Management LLC increased its holdings in Chevron by 3.3% during the first quarter. Pines Wealth Management LLC now owns 7,808 shares of the oil and gas company's stock valued at $1,306,000 after buying an additional 253 shares during the period. Finally, Viking Fund Management LLC increased its holdings in Chevron by 9.3% during the first quarter. Viking Fund Management LLC now owns 117,000 shares of the oil and gas company's stock valued at $19,573,000 after buying an additional 10,000 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE CVX remained flat at $153.24 on Wednesday. 9,494,909 shares of the company were exchanged, compared to its average volume of 8,327,300. The stock has a market cap of $267.62 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 2.50 and a beta of 0.83. The business has a fifty day moving average of $141.58 and a 200 day moving average of $148.22. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. 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 earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.93 earnings per share. As a group, equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced 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. This represents a $6.84 annualized dividend and a dividend yield of 4.46%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is currently 78.17%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVX. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. Barclays lifted their price objective on shares of Chevron from $152.00 to $156.00 and gave the company an "equal weight" rating in a report on Monday. UBS Group cut their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. TD Cowen cut their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $165.00 price target (up from $164.00) on shares of Chevron in a report on Thursday, June 26th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $160.65.

About Chevron

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.