Swiss National Bank Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Swiss National Bank decreased its position in Chevron Co. (NYSE:CVX) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,241,623 shares of the oil and gas company’s stock after selling 180,000 shares during the quarter. Chevron makes up 0.8% of Swiss National Bank’s investment portfolio, making the stock its 19th largest position. Swiss National Bank owned 0.33% of Chevron worth $776,708,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Guidant Wealth Advisors increased its position in shares of Chevron by 63.9% in the second quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 101 shares during the period. Evolution Wealth Advisors LLC purchased a new position in shares of Chevron during the second quarter valued at about $34,000. Cordasco Financial Network increased its position in shares of Chevron by 55.3% during the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock valued at $47,000 after buying an additional 135 shares during the period. Next Capital Management LLC purchased a new position in shares of Chevron during the second quarter valued at about $52,000. Finally, Ashburton Jersey Ltd purchased a new position in shares of Chevron during the second quarter valued at about $54,000. Hedge funds and other institutional investors own 66.45% of the company’s stock.

Several equities analysts recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Chevron in a research report on Tuesday. They set an “outperform” rating and a $165.00 price target on the stock. Morgan Stanley reduced their price target on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Citigroup assumed coverage on shares of Chevron in a research report on Monday, May 13th. They set a “buy” rating and a $135.00 price target on the stock. Barclays assumed coverage on shares of Chevron in a research report on Monday. They set an “overweight” rating and a $145.00 price target on the stock. Finally, Zacks Investment Research cut shares of Chevron from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $136.78.

In other news, Chairman Michael K. Wirth sold 33,750 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $125.60, for a total value of $4,239,000.00. Following the transaction, the chairman now owns 33,750 shares in the company, valued at $4,239,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Debra L. Reed bought 4,250 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average price of $118.14 per share, for a total transaction of $502,095.00. The disclosure for this purchase can be found here. Insiders have sold 51,750 shares of company stock worth $6,448,700 in the last three months. 0.31% of the stock is currently owned by insiders.

NYSE:CVX traded up $1.66 during mid-day trading on Wednesday, hitting $117.79. 552,360 shares of the company’s stock were exchanged, compared to its average volume of 6,095,443. Chevron Co. has a one year low of $100.22 and a one year high of $127.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.15 and a quick ratio of 0.91. The business has a fifty day moving average price of $122.50 and a 200 day moving average price of $121.41. The company has a market cap of $219.86 billion, a PE ratio of 14.28, a P/E/G ratio of 2.79 and a beta of 1.00.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, topping the consensus estimate of $1.74 by $0.53. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The business had revenue of $38.85 billion for the quarter, compared to analyst estimates of $40.14 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. Chevron’s quarterly revenue was down 8.0% on a year-over-year basis. On average, equities analysts forecast that Chevron Co. will post 6.93 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Friday, August 16th. Chevron’s payout ratio is currently 57.70%.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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