Commerzbank Aktiengesellschaft FI Increases Stock Holdings in Chevron Co. (NYSE:CVX)

Commerzbank Aktiengesellschaft FI boosted its position in shares of Chevron Co. (NYSE:CVX) by 27.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,341 shares of the oil and gas company’s stock after acquiring an additional 23,136 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Chevron were worth $15,808,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CVX. Prentice Wealth Management LLC raised its position in Chevron by 7.0% in the 1st quarter. Prentice Wealth Management LLC now owns 3,122 shares of the oil and gas company’s stock valued at $492,000 after purchasing an additional 203 shares in the last quarter. P&S Credit Management L.P. acquired a new position in Chevron in the first quarter valued at approximately $3,155,000. Richelieu Gestion SA acquired a new stake in Chevron during the first quarter worth approximately $142,000. First Bancorp Inc ME raised its holdings in Chevron by 16.8% during the first quarter. First Bancorp Inc ME now owns 1,638 shares of the oil and gas company’s stock worth $258,000 after purchasing an additional 236 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. raised its holdings in Chevron by 6.4% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 2,385 shares of the oil and gas company’s stock worth $388,000 after purchasing an additional 144 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on CVX shares. Scotiabank cut their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. UBS Group raised their price objective on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Barclays lowered their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $173.07.

Chevron Stock Performance

NYSE:CVX opened at $150.46 on Thursday. The firm’s fifty day moving average price is $146.44 and its 200 day moving average price is $153.45. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The firm has a market cap of $277.29 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $3.08 earnings per share. On average, sell-side analysts expect that Chevron Co. will post 10.95 EPS for the current year.

Chevron Dividend Announcement

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

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.