Banque Cantonale Vaudoise Increases Position in Chevron Co. (NYSE:CVX)

Banque Cantonale Vaudoise raised its position in shares of Chevron Co. (NYSE:CVX) by 13.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 72,017 shares of the oil and gas company’s stock after buying an additional 8,772 shares during the period. Banque Cantonale Vaudoise’s holdings in Chevron were worth $10,606,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CVX. Montz Harcus Wealth Management LLC increased its holdings in shares of Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after acquiring an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC increased its stake in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after purchasing an additional 64 shares during the last quarter. Tacita Capital Inc raised its holdings in shares of Chevron by 16.7% during the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 65 shares during the period. Cyndeo Wealth Partners LLC lifted its holdings in Chevron by 0.3% in the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after acquiring an additional 67 shares during the last quarter. Finally, S.A. Mason LLC grew its holdings in shares of Chevron by 0.7% during the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after purchasing an additional 67 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of CVX opened at $160.78 on Tuesday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a market capitalization of $288.94 billion, a P/E ratio of 17.67, a P/E/G ratio of 3.63 and a beta of 1.09. The firm’s 50 day moving average is $149.80 and its 200-day moving average is $152.57. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.05 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.06%. The ex-dividend date is Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % 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. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Truist Financial raised their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Scotiabank cut their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada increased their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. UBS Group lifted their target price on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.93.

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.