Chevron Corporation $CVX Shares Bought by Banque Transatlantique SA

Key Points

• Banque Transatlantique SA significantly increased its stake in Chevron Corporation by 1,029.8% in the first quarter, owning approximately 19,432 shares valued at $3,004,000.
• Chevron's director, John B. Hess, sold 375,000 shares for over $59 million, reducing his ownership by 21.09% to a total of 1,403,045 shares worth approximately $222 million.
• The company announced a quarterly dividend of $1.71, equating to an annual yield of 4.2%, with a payout ratio of 88.03%.

Banque Transatlantique SA raised its position in Chevron Corporation (NYSE:CVX - Free Report) by 1,029.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,432 shares of the oil and gas company's stock after buying an additional 17,712 shares during the period. Banque Transatlantique SA's holdings in Chevron were worth $3,004,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CVX. Harvest Fund Management Co. Ltd lifted its stake in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 122 shares in the last quarter. 10Elms LLP purchased a new position in Chevron in the 4th quarter worth approximately $29,000. Elequin Capital LP purchased a new position in Chevron in the 1st quarter worth approximately $31,000. IFS Advisors LLC lifted its stake in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 116 shares in the last quarter. Finally, Cloud Capital Management LLC purchased a new position in Chevron in the 1st quarter worth approximately $39,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by insiders.

Chevron Stock Up 0.8%

Shares of NYSE CVX opened at $161.82 on Wednesday. The firm has a market cap of $279.62 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 2.38 and a beta of 0.90. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The business's 50 day moving average is $152.93 and its two-hundred day moving average is $148.86.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.55 earnings per share. Research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.2%. Chevron's payout ratio is presently 88.03%.

Analysts Set New Price Targets

A number of research analysts have weighed in on CVX shares. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price on the stock. in a research note on Tuesday, May 6th. Wells Fargo & Company reissued an "overweight" rating and issued a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. TD Cowen raised their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research note on Monday, August 4th. Raymond James Financial reissued an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Finally, Melius assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price target on the stock. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $163.95.

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.

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