Commerzbank Aktiengesellschaft FI Raises Holdings in Chevron Corporation $CVX

Commerzbank Aktiengesellschaft FI boosted its stake in shares of Chevron Corporation (NYSE:CVX) by 45.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 820,348 shares of the oil and gas company’s stock after acquiring an additional 256,208 shares during the quarter. Chevron accounts for about 2.7% of Commerzbank Aktiengesellschaft FI’s investment portfolio, making the stock its 11th largest holding. Commerzbank Aktiengesellschaft FI’s holdings in Chevron were worth $117,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd lifted its holdings in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after buying an additional 122 shares during the period. Elequin Capital LP purchased a new stake in Chevron in the 1st quarter worth approximately $31,000. Cloud Capital Management LLC purchased a new stake in Chevron in the 1st quarter worth approximately $39,000. Investment Management Corp VA ADV lifted its holdings in Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after buying an additional 149 shares during the period. Finally, 1 North Wealth Services LLC purchased a new stake in Chevron in the 1st quarter worth approximately $45,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 1.4%

CVX stock opened at $151.63 on Friday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm has a market cap of $262.02 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.98 and a beta of 0.84. The business has a 50 day moving average of $156.15 and a 200 day moving average of $148.79.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same quarter last year, the company earned $2.55 EPS. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is 88.03%.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CVX shares. Morgan Stanley started coverage on Chevron in a report on Monday, August 4th. They issued an “overweight” rating and a $174.00 price objective for the company. Piper Sandler increased their price objective on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Melius Research initiated coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. Mizuho decreased their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Finally, Barclays decreased their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $165.40.

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.