Commerzbank Aktiengesellschaft FI Purchases 44,940 Shares of Chevron Corporation (NYSE:CVX)

Commerzbank Aktiengesellschaft FI lifted its position in shares of Chevron Corporation (NYSE:CVX) by 8.7% during the 1st quarter, HoldingsChannel reports. The firm owned 564,140 shares of the oil and gas company’s stock after acquiring an additional 44,940 shares during the period. Chevron accounts for about 2.2% of Commerzbank Aktiengesellschaft FI’s investment portfolio, making the stock its 17th biggest holding. Commerzbank Aktiengesellschaft FI’s holdings in Chevron were worth $94,375,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CVX. Eagle Capital Management LLC boosted its stake in shares of Chevron by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company’s stock worth $5,011,000 after acquiring an additional 242 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in shares of Chevron by 7.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock worth $5,212,000 after acquiring an additional 2,641 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of Chevron by 59.5% in the fourth quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company’s stock worth $847,000 after acquiring an additional 2,182 shares during the period. Compass Ion Advisors LLC boosted its stake in shares of Chevron by 3.2% in the fourth quarter. Compass Ion Advisors LLC now owns 6,121 shares of the oil and gas company’s stock worth $887,000 after acquiring an additional 190 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Chevron by 64.4% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,692 shares of the oil and gas company’s stock worth $821,000 after acquiring an additional 2,230 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVX. UBS Group dropped their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Piper Sandler reissued an “overweight” rating on shares of Chevron in a research note on Tuesday. Barclays reissued an “equal weight” rating on shares of Chevron in a research note on Tuesday. Scotiabank reissued a “sector perform” rating and set a $160.00 price target (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, TD Cowen dropped their price target on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Hold” and a consensus target price of $161.65.

Chevron Stock Down 0.5%

NYSE:CVX opened at $149.96 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The stock’s fifty day moving average is $143.53 and its two-hundred day moving average is $148.55. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market capitalization of $261.88 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 2.56 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the company earned $2.93 earnings per share. The company’s revenue was down 2.3% on a year-over-year basis. Research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Monday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

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.