Zurcher Kantonalbank Zurich Cantonalbank Has $59.45 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Chevron Co. (NYSE:CVX) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 403,695 shares of the oil and gas company’s stock after selling 1,732 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Chevron were worth $59,452,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Strategic Wealth Partners Ltd. boosted its position in shares of Chevron by 15.3% in the first quarter. Strategic Wealth Partners Ltd. now owns 6,782 shares of the oil and gas company’s stock worth $1,070,000 after buying an additional 898 shares during the period. Swedbank AB acquired a new position in Chevron during the first quarter valued at $86,131,000. Burney Co. lifted its stake in Chevron by 1.6% in the 1st quarter. Burney Co. now owns 17,481 shares of the oil and gas company’s stock worth $2,757,000 after acquiring an additional 275 shares in the last quarter. Austin Wealth Management LLC boosted its position in Chevron by 29.3% during the 1st quarter. Austin Wealth Management LLC now owns 2,319 shares of the oil and gas company’s stock worth $365,000 after acquiring an additional 525 shares during the period. Finally, Community Trust & Investment Co. grew its stake in Chevron by 4.5% during the 1st quarter. Community Trust & Investment Co. now owns 113,911 shares of the oil and gas company’s stock valued at $17,968,000 after acquiring an additional 4,940 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CVX. Wells Fargo & Company dropped their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada lifted their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. UBS Group boosted their price target on shares of Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Mizuho cut their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $175.56.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was 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 approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Chevron Stock Performance

Shares of NYSE CVX opened at $162.11 on Thursday. The business’s 50-day simple moving average is $152.69 and its 200-day simple moving average is $152.56. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market cap of $291.33 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 3.54 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the company posted $3.05 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts expect that Chevron Co. will post 10.53 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

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.