Chevron Co. (NYSE:CVX) Shares Purchased by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI raised its stake in Chevron Co. (NYSE:CVX) by 383.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 519,200 shares of the oil and gas company’s stock after acquiring an additional 411,859 shares during the quarter. Chevron makes up 1.8% of Commerzbank Aktiengesellschaft FI’s portfolio, making the stock its 19th biggest holding. Commerzbank Aktiengesellschaft FI’s holdings in Chevron were worth $75,201,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Patten Group Inc. lifted its holdings in Chevron by 0.6% in the 4th quarter. Patten Group Inc. now owns 24,389 shares of the oil and gas company’s stock valued at $3,533,000 after purchasing an additional 144 shares in the last quarter. Scott & Selber Inc. raised its position in shares of Chevron by 1.2% in the fourth quarter. Scott & Selber Inc. now owns 13,451 shares of the oil and gas company’s stock valued at $1,948,000 after buying an additional 157 shares during the last quarter. Alta Capital Management LLC lifted its stake in shares of Chevron by 6.4% during the fourth quarter. Alta Capital Management LLC now owns 38,672 shares of the oil and gas company’s stock valued at $5,601,000 after buying an additional 2,341 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Chevron by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after acquiring an additional 746,806 shares during the last quarter. Finally, DDFG Inc grew its stake in Chevron by 7.0% in the 4th quarter. DDFG Inc now owns 1,540 shares of the oil and gas company’s stock worth $223,000 after acquiring an additional 101 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.

Chevron Stock Performance

Chevron stock opened at $153.05 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a one year low of $135.37 and a one year high of $167.11. The stock’s 50 day moving average price is $153.35 and its 200 day moving average price is $151.58. The firm has a market capitalization of $269.46 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the company earned $3.45 earnings per share. As a group, sell-side analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.47%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Raymond James decreased their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Piper Sandler decreased their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, UBS Group decreased their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.