Pictet Asset Management Holding SA Sells 157,077 Shares of Chevron Corporation $CVX

Key Points

• Pictet Asset Management cut its Chevron stake by 17.5% in the first quarter, selling 157,077 shares and leaving it with 742,006 shares valued at about $153.5 million.
• Chevron reported better-than-expected earnings for the quarter, posting $1.41 EPS versus the $1.00 estimate, though revenue came in below expectations at $47.56 billion.
• The company also continued to draw attention from investors and analysts: it paid a $1.78 quarterly dividend yielding about 4.2%, and Wall Street currently rates the stock Moderate Buy with an average target price of $205.70.

Pictet Asset Management Holding SA reduced its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 17.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 742,006 shares of the oil and gas company's stock after selling 157,077 shares during the period. Pictet Asset Management Holding SA's holdings in Chevron were worth $153,522,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Summerhill Capital Management lnc. acquired a new stake in Chevron in the 1st quarter valued at approximately $491,000. Realta Investment Advisors boosted its position in Chevron by 193.5% during the 1st quarter. Realta Investment Advisors now owns 8,445 shares of the oil and gas company's stock worth $1,747,000 after acquiring an additional 5,568 shares during the last quarter. Union Bancaire Privee UBP SA boosted its position in Chevron by 45.3% during the 1st quarter. Union Bancaire Privee UBP SA now owns 346,435 shares of the oil and gas company's stock worth $69,762,000 after acquiring an additional 107,948 shares during the last quarter. Creative Capital Management Investments LLC grew its stake in shares of Chevron by 83.8% during the 1st quarter. Creative Capital Management Investments LLC now owns 1,314 shares of the oil and gas company's stock worth $272,000 after acquiring an additional 599 shares in the last quarter. Finally, Cambient Family Office LLC grew its stake in shares of Chevron by 3.3% during the 1st quarter. Cambient Family Office LLC now owns 31,907 shares of the oil and gas company's stock worth $6,602,000 after acquiring an additional 1,030 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of Chevron stock opened at $170.67 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $339.91 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 0.56 and a beta of 0.48. Chevron Corporation has a twelve month low of $142.40 and a twelve month high of $214.71. The company has a 50-day simple moving average of $185.10 and a two-hundred day simple moving average of $180.00.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $47.56 billion for the quarter, compared to analysts' expectations of $51.86 billion. During the same period last year, the firm earned $2.18 earnings per share. The business's revenue for the quarter was up 2.1% on a year-over-year basis. Analysts forecast that Chevron Corporation will post 15.88 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Tuesday, May 19th. Chevron's dividend payout ratio (DPR) is 123.40%.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares of the company's stock, valued at $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Barclays boosted their price objective on shares of Chevron from $192.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 26th. Tudor Pickering upgraded Chevron from a "hold" rating to a "buy" rating and set a $225.00 target price for the company in a research note on Thursday, April 9th. Piper Sandler upped their price objective on shares of Chevron from $179.00 to $242.00 and gave the company an "overweight" rating in a report on Thursday, March 12th. UBS Group reaffirmed a "buy" rating on shares of Chevron in a research report on Tuesday, June 23rd. Finally, Citigroup lifted their price target on Chevron from $210.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $205.70.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron expanded its upstream footprint by agreeing to take a majority stake and operatorship in Greece’s Southern Ionian Sea Block 10, a move that could add long-term exploration upside and strengthen its Eastern Mediterranean presence. Chevron (CVX) Expands Into Greece Block 10 While Venezuela Operations Stay Running
• Positive Sentiment: The company also announced a 20-year deal to supply natural gas to a Microsoft data center in West Texas, signaling a new avenue for stable, long-duration demand and potential growth from energy infrastructure tied to AI. Chevron, Microsoft deal fuels West Texas data center expansion
• Positive Sentiment: Chevron confirmed that its Venezuela operations remain safe and fully operational after the earthquakes, reducing near-term disruption risk while the company supports relief efforts. Chevron Confirms Safe Venezuela Operations After Major Earthquakes
• Neutral Sentiment: Chevron committed $1 million to earthquake relief in Venezuela, a humanitarian move that is unlikely to materially affect earnings but may support its reputation. Chevron Commits $1 Million to Support Earthquake Relief in Venezuela
• Neutral Sentiment: Reuters reported Chevron is exploring additional deals to power U.S. data centers, which suggests optionality and diversification, but no immediate financial impact was disclosed. Chevron eyes more deals to power US data centers
• Negative Sentiment: Investor caution rose after reports that the Trump administration ordered a DOJ probe into gasoline pricing at Chevron and other major oil companies, creating headline risk and possible regulatory overhang. Trump Orders DOJ Investigation Into Exxon (XOM) and Chevron (CVX) Over Gas Pump Pricing
• Negative Sentiment: Chevron’s CFO said gasoline prices should decline, but only with a lag, reinforcing concerns that near-term pricing and margins may remain uncertain if crude prices keep falling. Chevron CFO says gas prices will normalize after Trump presses Big Oil

About Chevron

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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