Chevron Co. (NYSE:CVX) Shares Sold by Deutsche Bank AG

Deutsche Bank AG decreased its holdings in Chevron Co. (NYSE:CVX - Free Report) by 22.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,226,890 shares of the oil and gas company's stock after selling 1,189,227 shares during the period. Deutsche Bank AG owned about 0.24% of Chevron worth $612,223,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CVX. Geode Capital Management LLC grew its stake in Chevron by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after purchasing an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Chevron by 2.4% during the 4th 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 buying an additional 746,806 shares in the last quarter. Norges Bank purchased a new position in shares of Chevron during the fourth quarter valued at $3,017,750,000. Northern Trust Corp raised its holdings in shares of Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after acquiring an additional 1,394,091 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Chevron by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock worth $2,881,280,000 after acquiring an additional 410,460 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

CVX stock traded up $1.48 during trading on Friday, reaching $138.52. The company had a trading volume of 5,964,253 shares, compared to its average volume of 7,993,213. The company has a market cap of $243.88 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron Co. has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a 50-day simple moving average of $147.91 and a 200-day simple moving average of $152.05.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.93 earnings per share. As a group, sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.94%. Chevron's payout ratio is presently 78.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. TD Cowen reduced their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday. Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Truist Financial lowered their target price on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada reiterated an "outperform" rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Finally, Raymond James decreased their price objective on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $161.25.

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.