Quintet Private Bank Europe S.A. Has $21.76 Million Stake in Chevron Co. (NYSE:CVX)

Quintet Private Bank Europe S.A. raised its position in Chevron Co. (NYSE:CVX) by 163.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,254 shares of the oil and gas company’s stock after purchasing an additional 93,164 shares during the quarter. Chevron accounts for approximately 1.2% of Quintet Private Bank Europe S.A.’s holdings, making the stock its 26th largest holding. Quintet Private Bank Europe S.A.’s holdings in Chevron were worth $21,763,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVX. Pettinga Financial Advisors LLC increased its position in shares of Chevron by 10.1% in the third quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock valued at $438,000 after acquiring an additional 272 shares during the last quarter. Argonautica Private Wealth Management Inc. increased its position in shares of Chevron by 0.8% in the third quarter. Argonautica Private Wealth Management Inc. now owns 14,442 shares of the oil and gas company’s stock valued at $2,127,000 after acquiring an additional 118 shares during the last quarter. Clear Creek Financial Management LLC increased its position in shares of Chevron by 5.4% in the third quarter. Clear Creek Financial Management LLC now owns 17,802 shares of the oil and gas company’s stock valued at $2,622,000 after acquiring an additional 920 shares during the last quarter. Arcadia Investment Management Corp MI increased its position in shares of Chevron by 7.4% in the third quarter. Arcadia Investment Management Corp MI now owns 7,214 shares of the oil and gas company’s stock valued at $1,062,000 after acquiring an additional 500 shares during the last quarter. Finally, Pure Financial Advisors LLC increased its position in shares of Chevron by 42.6% in the third quarter. Pure Financial Advisors LLC now owns 14,535 shares of the oil and gas company’s stock valued at $2,141,000 after acquiring an additional 4,341 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

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 stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at $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 is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Wells Fargo & Company reduced their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Finally, Raymond James reduced their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Trading Up 1.2 %

Shares of NYSE:CVX opened at $158.59 on Monday. The company has a market capitalization of $279.21 billion, a P/E ratio of 16.32, a P/E/G ratio of 1.46 and a beta of 1.11. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. 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 business’s 50 day simple moving average is $153.14 and its 200 day simple moving average is $151.54.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the company posted $3.45 EPS. On average, research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.31%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

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.