Swiss National Bank Sells 281,700 Shares of Chevron Co. (NYSE:CVX)

Swiss National Bank cut its holdings in shares of Chevron Co. (NYSE:CVX - Free Report) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,915,035 shares of the oil and gas company's stock after selling 281,700 shares during the quarter. Chevron accounts for 0.5% of Swiss National Bank's holdings, making the stock its 27th largest position. Swiss National Bank owned 0.27% of Chevron worth $711,894,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 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 worth $438,000 after purchasing an additional 272 shares during the period. United Bank grew its stake in Chevron by 8.4% during the third quarter. United Bank now owns 8,095 shares of the oil and gas company's stock worth $1,192,000 after buying an additional 629 shares in the last quarter. Entropy Technologies LP bought a new position in Chevron in the 3rd quarter valued at about $380,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Chevron in the 3rd quarter valued at approximately $492,000. Finally, Aigen Investment Management LP bought a new stake in shares of Chevron during the 3rd quarter worth approximately $1,249,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CVX. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Raymond James decreased their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Citigroup upgraded Chevron from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Finally, Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $174.13.

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Chevron Stock Down 0.9 %

Shares of NYSE:CVX opened at $152.63 on Thursday. The firm has a market cap of $268.72 billion, a P/E ratio of 15.70, a P/E/G ratio of 1.46 and a beta of 1.08. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The business has a fifty day simple moving average of $154.71 and a 200 day simple moving average of $151.91. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data 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 in the prior year, the company earned $3.45 EPS. Analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. This is a positive change from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend was Friday, February 14th. Chevron's dividend payout ratio is currently 70.37%.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

About Chevron

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.

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