Quintet Private Bank Europe S.A. Increases Stake in Chevron Corporation $CVX

Quintet Private Bank Europe S.A. boosted its holdings in Chevron Corporation (NYSE:CVX) by 51.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214,947 shares of the oil and gas company’s stock after purchasing an additional 73,481 shares during the quarter. Chevron makes up about 2.0% of Quintet Private Bank Europe S.A.’s investment portfolio, making the stock its 14th largest holding. Quintet Private Bank Europe S.A.’s holdings in Chevron were worth $43,894,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blue Capital Inc. bought a new position in Chevron during the 2nd quarter worth $786,000. OneAscent Wealth Management LLC acquired a new position in shares of Chevron during the second quarter valued at $973,000. Global Retirement Partners LLC acquired a new stake in shares of Chevron in the 2nd quarter worth about $14,276,000. Ferguson Wellman Capital Management Inc. lifted its position in Chevron by 0.6% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company’s stock valued at $186,182,000 after purchasing an additional 5,787 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Chevron by 6.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock valued at $258,853,000 after purchasing an additional 79,439 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Bakken restructuring could improve returns: Chevron is transferring its Hess Midstream interests and DJ Basin midstream assets in exchange for revised Bakken agreements. The deal is expected to cut Chevron’s Bakken midstream costs by roughly 50%, remove associated debt exposure and extend contracts through 2045. Analysts say the changes could strengthen cash flow and return on capital, despite an estimated $3 billion-$4 billion closing loss. Chevron’s Portfolio Reshaping Strategy to Unlock Stronger Returns
• Positive Sentiment: Bullish analyst sentiment: Zacks upgraded Chevron to “Strong Buy” and highlighted the company as its Bull of the Day, citing cash generation, rising estimates and shareholder returns. A separate outlook places a potential price target near $225. Chevron highlighted as Zacks Bull of the Day
• Positive Sentiment: Tight fuel markets support oil prices: Chevron CEO Mike Wirth said global oil and fuel inventories have become dangerously thin, particularly ahead of winter. The supply concerns and ongoing geopolitical volatility may support crude prices and energy-sector earnings. Chevron CEO issues warning on depleting oil reserves
• Neutral Sentiment: Gulf operations curtailed by storm: Chevron has shut in four operated Gulf of Mexico facilities and moved some personnel ashore, while five other facilities reportedly continue producing. Industrywide, roughly 512,000 barrels per day of Gulf output had been temporarily shut in. The disruption could support fuel prices, but it also reduces Chevron’s near-term production. Chevron Shuts In Four Gulf Facilities as Hurricane Isaias Nears
• Negative Sentiment: Transaction charge and execution risk: The Hess Midstream restructuring involves a substantial upfront accounting loss, while lower drilling activity in the Bakken could reduce throughput. Investors will weigh the near-term hit against the expected long-term cost savings. Chevron Is Offloading Hess Midstream and Taking a $3 Billion to $4 Billion Hit
• Negative Sentiment: Diesel export-policy uncertainty: Wirth warned that a U.S. diesel export ban would remove supply from global markets and worsen the energy crisis. Although the comments support Chevron’s position, any new restrictions could disrupt refining markets and increase policy risk. Chevron CEO warns against diesel export ban

Chevron Price Performance

NYSE:CVX traded up $5.81 during trading hours on Thursday, reaching $210.96. 3,468,479 shares of the company’s stock were exchanged, compared to its average volume of 10,479,264. Chevron Corporation has a 12 month low of $146.49 and a 12 month high of $217.78. The business’s 50-day simple moving average is $203.83 and its two-hundred day simple moving average is $192.87. The company has a market capitalization of $416.81 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 0.58 and a beta of 0.53. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. The business had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%.The company’s revenue was up 57.4% compared to the same quarter last year. During the same period last year, the company posted $1.77 EPS. Sell-side analysts expect that Chevron Corporation will post 17.47 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Wednesday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 68.26%.

Insider Transactions at Chevron

In other Chevron news, insider R. Pate sold 2,470 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total transaction of $506,621.70. Following the transaction, the insider directly owned 10,794 shares of the company’s stock, valued at $2,213,957.34. This represents a 18.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Andrew Walz sold 16,800 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the sale, the insider owned 14 shares of the company’s stock, valued at approximately $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,152,582 shares of company stock worth $225,853,661. 0.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CVX shares. Weiss Ratings upgraded shares of Chevron from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Raymond James Financial decreased their price objective on Chevron from $230.00 to $225.00 and set an “outperform” rating for the company in a report on Tuesday, July 21st. UBS Group raised their target price on Chevron from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley lifted their target price on Chevron from $210.00 to $218.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Finally, Zacks Research raised Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $210.24.

Chevron Company Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.