Pictet North America Advisors SA Takes $5.66 Million Position in Chevron Corporation $CVX

Pictet North America Advisors SA bought a new position in Chevron Corporation (NYSE:CVX) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 36,458 shares of the oil and gas company’s stock, valued at approximately $5,662,000.

Other institutional investors have also added to or reduced their stakes in the company. Quaker Wealth Management LLC grew its position in Chevron by 197.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 439 shares during the last quarter. Vermillion & White Wealth Management Group LLC lifted its position in Chevron by 86.1% in the second 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. grew its holdings in shares of Chevron by 52.3% in the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares during the last quarter. GFG Capital LLC purchased a new position in shares of Chevron in the second quarter worth $42,000. Finally, LFA Lugano Financial Advisors SA raised its holdings in Chevron by 106.7% during the 2nd quarter. LFA Lugano Financial Advisors SA now owns 310 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 160 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Price Performance

CVX stock opened at $155.81 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15. The firm has a 50 day moving average price of $151.88 and a 200-day moving average price of $153.03. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The firm has a market capitalization of $313.73 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 9.54 and a beta of 0.70.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The company had revenue of $48.17 billion during 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 revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the company earned $2.48 EPS. Equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Tuesday, November 18th. Chevron’s dividend payout ratio is currently 96.20%.

Insider Activity

In other news, Director John B. Hess sold 275,000 shares of the stock in a transaction that occurred 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 sale, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CVX. UBS Group restated a “buy” rating on shares of Chevron in a research report on Monday, December 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Scotiabank boosted their price objective on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Finally, Mizuho raised their target price on shares of Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $166.00.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.