Chevron Corporation $CVX Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its stake in shares of Chevron Corporation (NYSE:CVX) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 916,186 shares of the oil and gas company’s stock after buying an additional 42,180 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Chevron were worth $187,094,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in CVX. Blue Capital Inc. acquired a new stake in Chevron in the 2nd quarter worth approximately $786,000. OneAscent Wealth Management LLC bought a new stake in Chevron during the second quarter worth approximately $973,000. Global Retirement Partners LLC bought a new stake in Chevron during the second quarter worth approximately $14,276,000. Greg Jennings LLC acquired a new position in Chevron during the third quarter valued at approximately $1,314,000. Finally, Ferguson Wellman Capital Management Inc. grew its holdings in Chevron by 0.6% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company’s stock valued at $186,182,000 after purchasing an additional 5,787 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. BMO Capital Markets raised their target price on shares of Chevron from $210.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Weiss Ratings downgraded shares of Chevron from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, November 2nd. Sanford C. Bernstein boosted their target price on shares of Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Dbs Bank upgraded shares of Chevron to a “moderate buy” rating in a report on Thursday, August 6th. Finally, DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $240.00 price target for the company. in a report on Tuesday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $221.88.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was upgraded by Freedom Broker from “sell” to “hold,” with a $218 price target. The change signals less bearishness, though the target implies only modest upside from the cited share price. Freedom Broker rating
• Positive Sentiment: Natural-gas production topped 9 billion cubic feet per day in the third quarter, supported by operations in Australia and the Eastern Mediterranean. Record output could strengthen Chevron’s position in the liquefied natural gas market, despite operational disruptions. Zacks article on gas production
• Positive Sentiment: Recent coverage points to record cash flow and a run of earnings beats as reasons to consider CVX for the long term. Chevron’s latest reported quarter also exceeded analyst expectations for earnings and revenue, supporting the fundamental case. 247WallSt analysis
• Neutral Sentiment: An executive reported selling 24,439 shares in an option exercise-and-sale transaction. The report alone does not establish a change in the company’s outlook. Insider transaction report
• Negative Sentiment: Coverage says a post-election political shift sent oil prices lower, dragging energy stocks, including Chevron. A separate analyst downgrade also contributed to reported share-price pressure, highlighting sensitivity to oil-market expectations and cautious ratings. Report on analyst downgrade

Chevron Stock Up 0.0%

CVX opened at $212.66 on Monday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $236.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.07. The firm’s fifty day moving average price is $214.91 and its two-hundred day moving average price is $194.40. The company has a market capitalization of $420.17 billion, a P/E ratio of 15.56, a P/E/G ratio of 0.50 and a beta of 0.47.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.87 by $0.41. Chevron had a net margin of 11.56% and a return on equity of 14.49%. The firm had revenue of $65.24 billion during the quarter, compared to analyst estimates of $61.82 billion. During the same quarter in the prior year, the business posted $1.85 earnings per share. The company’s quarterly revenue was up 36.3% compared to the same quarter last year. On average, analysts anticipate that Chevron Corporation will post 18.56 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be given a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 52.08%.

Insider Buying and Selling at Chevron

In other news, insider Andrew Walz sold 16,800 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the transaction, the insider directly owned 14 shares in the company, valued at approximately $2,814.84. This represents a 99.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R. Pate sold 40,700 shares of the company’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total value of $9,224,655.00. Following the transaction, the insider directly owned 8,791 shares in the company, valued at approximately $1,992,480.15. This represents a 82.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 379,470 shares of company stock worth $77,216,415. 0.56% of the stock is currently owned by corporate insiders.

Chevron Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.