German American Bancorp Inc. Takes Position in Chevron Corporation $CVX

German American Bancorp Inc. bought a new stake in shares of Chevron Corporation (NYSE:CVX) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 2,941 shares of the oil and gas company’s stock, valued at approximately $488,000.

A number of other large investors also recently added to or reduced their stakes in CVX. Northstar Financial Companies Inc. purchased a new stake in Chevron during the second quarter valued at about $3,266,000. Gould Asset Management LLC CA purchased a new position in shares of Chevron in the second quarter worth about $556,000. Arrowroot Family Office LLC purchased a new position in shares of Chevron in the second quarter worth about $630,000. Nippon Life Global Investors Americas Inc. bought a new stake in shares of Chevron in the 2nd quarter valued at about $25,189,000. Finally, Private Wealth Advisors LLC bought a new stake in shares of Chevron in the 2nd quarter valued at about $218,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.0%

Shares of Chevron stock opened at $199.99 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The company has a market cap of $395.13 billion, a P/E ratio of 19.17, a PEG ratio of 0.61 and a beta of 0.49. The company’s fifty day simple moving average is $183.30 and its two-hundred day simple moving average is $187.01.

Chevron (NYSE:CVX) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion during the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The company’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same period last year, the company posted $1.77 EPS. Research analysts anticipate that Chevron Corporation will post 15.86 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s payout ratio is presently 68.26%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Sanford C. Bernstein raised their price target on Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Jefferies Financial Group reiterated a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research report on Friday, July 10th. Mizuho set a $224.00 target price on shares of Chevron in a report on Monday, August 3rd. TD Cowen lifted their target price on shares of Chevron from $200.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $220.00 price target on shares of Chevron in a report on Tuesday, May 5th. Twenty investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $207.48.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 5,547 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $187.00, for a total value of $1,037,289.00. Following the completion of the transaction, the chief executive officer owned 26,308 shares in the company, valued at $4,919,596. This trade represents a 17.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the transaction, the director owned 178,045 shares of the company’s stock, valued at approximately $34,587,021.70. The trade was a 35.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,196,212 shares of company stock worth $231,819,366. Insiders own 0.56% of the company’s stock.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.