Chevron Co. (NYSE:CVX) Shares Acquired by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI lifted its position in shares of Chevron Co. (NYSE:CVX) by 27.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 107,341 shares of the oil and gas company’s stock after acquiring an additional 23,136 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Chevron were worth $15,808,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CVX. Anfield Capital Management LLC raised its stake in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC raised its stake in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Krane Funds Advisors LLC acquired a new position in Chevron in the 3rd quarter valued at about $47,000. Livelsberger Financial Advisory acquired a new position in Chevron in the 3rd quarter valued at about $47,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in Chevron in the 1st quarter valued at about $55,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CVX shares. Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Bank of America started coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Finally, Truist Financial dropped their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Stock Down 0.3 %

Shares of NYSE:CVX opened at $150.46 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The stock has a market capitalization of $277.29 billion, a P/E ratio of 13.84, a PEG ratio of 2.73 and a beta of 1.09. The stock has a 50-day simple moving average of $146.44 and a 200-day simple moving average of $153.45.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.08 EPS. Equities analysts forecast that Chevron Co. will post 10.95 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is presently 59.98%.

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.