Chevron Co. (NYSE:CVX) Position Lifted by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Chevron Co. (NYSE:CVX) by 39.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 438,159 shares of the oil and gas company’s stock after purchasing an additional 124,202 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Chevron were worth $63,463,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in CVX. IMG Wealth Management Inc. acquired a new stake in Chevron in the 4th quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron during the 4th quarter valued at $29,000. Fairway Wealth LLC boosted its stake in shares of Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares in the last quarter. Navigoe LLC acquired a new position in shares of Chevron in the 4th quarter worth $33,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Chevron during the fourth quarter valued at $39,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CVX shares. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $160.00 to $143.00 in a research report on Friday, April 11th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a report on Tuesday. TD Cowen cut their price objective on shares of Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday. Finally, Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Hold” and a consensus target price of $161.25.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

Chevron Trading Up 0.1 %

NYSE:CVX opened at $135.73 on Thursday. The business’s 50-day simple moving average is $148.49 and its 200-day simple moving average is $152.23. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. 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 stock has a market capitalization of $238.97 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the company earned $2.93 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. Sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio is presently 78.17%.

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.