Chevron Corporation $CVX Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich reduced its stake in Chevron Corporation (NYSE:CVX) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 481,534 shares of the oil and gas company’s stock after selling 7,431 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Chevron were worth $68,951,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. NorthStar Asset Management LLC NJ grew its position in Chevron by 7.5% in the 1st quarter. NorthStar Asset Management LLC NJ now owns 4,257 shares of the oil and gas company’s stock valued at $712,000 after acquiring an additional 296 shares in the last quarter. GW&K Investment Management LLC boosted its stake in shares of Chevron by 33.8% in the first quarter. GW&K Investment Management LLC now owns 1,260 shares of the oil and gas company’s stock valued at $211,000 after purchasing an additional 318 shares during the period. Triumph Capital Management acquired a new position in shares of Chevron in the first quarter valued at approximately $264,000. Financial & Tax Architects LLC grew its holdings in shares of Chevron by 2.7% in the first quarter. Financial & Tax Architects LLC now owns 43,036 shares of the oil and gas company’s stock valued at $7,199,000 after purchasing an additional 1,116 shares in the last quarter. Finally, Unison Advisors LLC purchased a new stake in Chevron during the 1st quarter worth approximately $2,994,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CVX. Scotiabank raised their price target 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. Mizuho increased their price objective on Chevron from $191.00 to $204.00 and gave the company an “outperform” rating in a research note on Thursday, November 13th. Evercore ISI reiterated an “outperform” rating and issued a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Morgan Stanley boosted their target price on Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $166.55.

Chevron Stock Down 0.9%

Shares of NYSE CVX opened at $150.34 on Friday. The business has a 50-day moving average of $154.98 and a two-hundred day moving average of $150.64. The company has a market capitalization of $302.71 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter in the previous year, the firm earned $2.48 EPS. The company’s revenue was down 1.9% compared to the same quarter last year. On average, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.5%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio is currently 96.20%.

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

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.