DJE Kapital AG Has $62.73 Million Stock Position in Chevron Corporation $CVX

DJE Kapital AG cut its stake in shares of Chevron Corporation (NYSE:CVX) by 45.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 438,675 shares of the oil and gas company’s stock after selling 368,524 shares during the quarter. Chevron accounts for about 1.5% of DJE Kapital AG’s portfolio, making the stock its 24th largest position. DJE Kapital AG’s holdings in Chevron were worth $62,732,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CVX. Kingstone Capital Partners Texas LLC raised its position in Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after buying an additional 1,574,464 shares during the period. Invesco Ltd. raised its holdings in Chevron by 5.5% in the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after buying an additional 827,851 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Chevron by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock worth $2,054,513,000 after buying an additional 40,758 shares during the period. Finally, GQG Partners LLC bought a new stake in Chevron during the 1st quarter worth approximately $1,466,751,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 1.4%

Shares of Chevron stock opened at $155.10 on Friday. The stock’s 50-day moving average is $155.55 and its 200 day moving average is $149.71. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market cap of $268.01 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 4.40 and a beta of 0.83. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The business had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.48 earnings per share. Equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, November 18th. Chevron’s payout ratio is presently 96.20%.

Insider Buying and Selling at Chevron

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 price target (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. Scotiabank lifted their target price on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Morgan Stanley upped their price target on Chevron from $174.00 to $177.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Barclays reduced their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $165.40.

About Chevron

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.