Banque Pictet & Cie SA Has $26.34 Million Stake in Chevron Co. (NYSE:CVX)

Banque Pictet & Cie SA reduced its position in Chevron Co. (NYSE:CVX) by 9.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 168,370 shares of the oil and gas company’s stock after selling 18,260 shares during the quarter. Banque Pictet & Cie SA’s holdings in Chevron were worth $26,336,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. American Capital Advisory LLC grew its holdings in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares in the last quarter. Bare Financial Services Inc purchased a new position in Chevron during the 4th quarter valued at $27,000. Frank Rimerman Advisors LLC bought a new position in Chevron in the fourth quarter worth about $30,000. Cooksen Wealth LLC purchased a new position in shares of Chevron in the 4th quarter valued at approximately $40,000. Finally, Clear Investment Research LLC lifted its position in Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 204 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Up 1.3 %

Shares of Chevron stock traded up $1.89 during trading hours on Friday, reaching $147.62. 4,824,078 shares of the company’s stock were exchanged, compared to its average volume of 7,814,477. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $272.06 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10. The company has a fifty day moving average of $152.97 and a 200-day moving average of $155.81. Chevron Co. has a 52-week low of $139.62 and a 52-week high of $171.70.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the company posted $3.08 earnings per share. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.42%. Chevron’s dividend payout ratio is presently 59.98%.

Analyst Upgrades and Downgrades

Several analysts have commented on CVX shares. Wells Fargo & Company increased their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Mizuho increased their target price on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. HSBC raised their price objective on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Barclays decreased their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $183.82.

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.