DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Has $101.83 Million Holdings in Chevron Corporation $CVX

by · The Cerbat Gem

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lessened its position in Chevron Corporation (NYSE:CVX – Free Report) by 71.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 711,119 shares of the oil and gas company’s stock after selling 1,747,391 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Chevron were worth $101,825,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in CVX. Elequin Capital LP purchased a new position in shares of Chevron during the first quarter valued at $31,000. Quaker Wealth Management LLC lifted its stake in Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 439 shares in the last quarter. Vermillion & White Wealth Management Group LLC boosted its position in Chevron by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 118 shares during the period. IMG Wealth Management Inc. grew its stake in Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 91 shares in the last quarter. Finally, GFG Capital LLC acquired a new position in shares of Chevron in the 2nd quarter valued at about $42,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 275,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the transaction, the director directly owned 1,128,045 shares of the company’s stock, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.21% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $150.70 on Friday. The firm has a market cap of $303.44 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 8.99 and a beta of 0.68. The company’s fifty day moving average is $152.82 and its 200-day moving average is $151.89. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. Chevron’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.48 earnings per share. Equities analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron’s dividend payout ratio is currently 96.20%.

Analysts Set New Price Targets

Several research firms recently commented on CVX. UBS Group restated a “buy” rating on shares of Chevron in a report on Monday, December 1st. Wall Street Zen upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Mizuho lifted their target price on shares of Chevron from $191.00 to $204.00 and gave the company an “outperform” rating in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Finally, Morgan Stanley increased their price objective on Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $165.89.

Get Our Latest Stock Analysis on CVX

Chevron Company Profile

(Free Report)

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.

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