Quintet Private Bank Europe S.A. Acquires 22,658 Shares of Chevron Corporation $CVX

Quintet Private Bank Europe S.A. boosted its holdings in Chevron Corporation (NYSE:CVX) by 17.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 155,667 shares of the oil and gas company’s stock after buying an additional 22,658 shares during the quarter. Chevron makes up 1.4% of Quintet Private Bank Europe S.A.’s holdings, making the stock its 24th biggest holding. Quintet Private Bank Europe S.A.’s holdings in Chevron were worth $24,174,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CVX. Quaker Wealth Management LLC boosted its stake in shares of Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its stake in Chevron by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 118 shares during the last quarter. IMG Wealth Management Inc. boosted its position in Chevron by 52.3% in the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 91 shares in the last quarter. 1 North Wealth Services LLC bought a new stake in shares of Chevron during the first quarter worth $45,000. Finally, GFG Capital LLC acquired a new position in shares of Chevron during the second quarter worth $42,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 1.8%

Shares of CVX stock opened at $149.46 on Thursday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The stock has a market cap of $300.93 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 8.72 and a beta of 0.68. The stock has a 50-day moving average of $152.41 and a 200-day moving average of $152.33.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The company had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.48 earnings per share. On average, equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s dividend payout ratio is currently 96.20%.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent research reports. Zacks Research downgraded Chevron from a “hold” rating to a “strong sell” rating in a report on Monday, November 24th. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Hsbc Global Res upgraded Chevron from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Scotiabank upped their price objective on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Finally, Piper Sandler cut their target price on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $166.00.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 275,000 shares of Chevron stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

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.