Zurcher Kantonalbank Zurich Cantonalbank Reduces Position in Chevron Co. (NYSE:CVX)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 13.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 670,888 shares of the oil and gas company’s stock after selling 104,648 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Chevron were worth $100,070,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CVX. Windsor Advisory Group LLC grew its stake in shares of Chevron by 24.0% in the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after buying an additional 720 shares during the period. Renaissance Investment Group LLC grew its stake in shares of Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after buying an additional 697 shares during the period. Altrius Capital Management Inc grew its stake in shares of Chevron by 2.1% in the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after buying an additional 434 shares during the period. Camelot Portfolios LLC purchased a new stake in shares of Chevron in the 4th quarter valued at approximately $254,000. Finally, Strategic Financial Concepts LLC grew its stake in shares of Chevron by 9.0% in the 3rd quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock valued at $974,000 after buying an additional 476 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. UBS Group upped their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a report on Monday, April 1st. Mizuho upped their price objective on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Wells Fargo & Company upped their price objective on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $183.55.

Chevron Trading Down 0.8 %

NYSE CVX opened at $156.28 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The firm’s fifty day moving average price is $155.11 and its 200 day moving average price is $151.83. The company has a market capitalization of $290.25 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $172.54.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. During the same period last year, the firm posted $4.09 EPS. The company’s revenue was down 16.5% on a year-over-year basis. On average, sell-side analysts expect that Chevron Co. will post 13.28 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Chevron Company 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.