Quintet Private Bank Europe S.A. Sells 24,104 Shares of Chevron Corporation $CVX

Quintet Private Bank Europe S.A. lowered its stake in Chevron Corporation (NYSE:CVX - Free Report) by 15.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,009 shares of the oil and gas company's stock after selling 24,104 shares during the quarter. Chevron comprises 1.1% of Quintet Private Bank Europe S.A.'s portfolio, making the stock its 26th biggest holding. Quintet Private Bank Europe S.A.'s holdings in Chevron were worth $19,046,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Greenfield Savings Bank raised its stake in shares of Chevron by 0.6% in the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company's stock worth $1,663,000 after buying an additional 68 shares during the period. GDS Wealth Management grew its position in shares of Chevron by 4.4% during the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company's stock worth $285,000 after purchasing an additional 72 shares in the last quarter. AIMZ Investment Advisors LLC grew its position in shares of Chevron by 4.2% during the first quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company's stock worth $298,000 after purchasing an additional 72 shares in the last quarter. Garde Capital Inc. grew its position in shares of Chevron by 3.2% during the second quarter. Garde Capital Inc. now owns 2,355 shares of the oil and gas company's stock worth $337,000 after purchasing an additional 72 shares in the last quarter. Finally, Clayton Financial Group LLC grew its position in shares of Chevron by 4.6% during the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock worth $285,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Insider Transactions at Chevron

In related news, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents 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 at this link. Also, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company's stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

Analyst Ratings Changes

CVX has been the subject of several research analyst reports. Raymond James Financial reiterated an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. Melius initiated coverage on Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 target price for the company. UBS Group increased their target price on Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Piper Sandler increased their target price on Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Chevron has a consensus rating of "Hold" and an average price target of $164.80.

Chevron Stock Down 0.6%

Chevron stock opened at $157.23 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The business's 50-day simple moving average is $154.67 and its two-hundred day simple moving average is $148.79. The company has a market cap of $271.69 billion, a PE ratio of 20.24, a PEG ratio of 1.98 and a beta of 0.90. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

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

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron's dividend payout ratio (DPR) is presently 88.03%.

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.

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