Bank Pictet & Cie Europe AG Purchases 2,641 Shares of Chevron Co. (NYSE:CVX)

Bank Pictet & Cie Europe AG lifted its position in Chevron Co. (NYSE:CVX) by 7.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,985 shares of the oil and gas company’s stock after purchasing an additional 2,641 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Chevron were worth $5,212,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Life Planning Partners Inc purchased a new position in Chevron in the fourth quarter worth about $25,000. Rational Advisors LLC bought a new position in Chevron in the third quarter worth approximately $29,000. Legacy Investment Solutions LLC bought a new position in Chevron in the third quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new position in Chevron in the third quarter worth approximately $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Chevron in the third quarter worth approximately $31,000. 72.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Chevron Price Performance

NYSE CVX opened at $155.32 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock’s fifty day moving average price is $151.86 and its 200 day moving average price is $150.87. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a market cap of $279.12 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the company earned $3.45 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.40%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is presently 67.08%.

Analysts Set New Price Targets

A number of brokerages recently commented on CVX. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday, November 5th. Raymond James reduced their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. UBS Group reduced their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company reduced their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.