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

Commerzbank Aktiengesellschaft FI increased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 564,140 shares of the oil and gas company's stock after purchasing an additional 44,940 shares during the quarter. Chevron accounts for 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 and other institutional investors have also recently bought and sold shares of the company. Life Planning Partners Inc acquired a new position in shares of Chevron in the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron in the fourth quarter valued at $29,000. 10Elms LLP acquired a new position in Chevron in the fourth quarter valued at $29,000. Navigoe LLC acquired a new position in Chevron in the fourth quarter valued at $33,000. Finally, IFS Advisors LLC increased its stake in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after purchasing an additional 116 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 1.1%

Shares of NYSE:CVX traded down $1.59 during trading on Friday, hitting $149.79. The company's stock had a trading volume of 45,762,307 shares, compared to its average volume of 8,533,067. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock's 50-day moving average price is $143.81 and its two-hundred day moving average price is $148.61. The company has a market capitalization of $261.59 billion, a PE ratio of 17.12, a PEG ratio of 2.45 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results 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. 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 analysts' expectations of $49.05 billion. During the same quarter in the previous year, the firm posted $2.93 earnings per share. The company's revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.57%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio (DPR) is 78.17%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CVX. Redburn Atlantic reissued a "sell" rating and set a $124.00 price target (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Piper Sandler reissued an "overweight" rating on shares of Chevron in a research report on Tuesday. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Mizuho lowered their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $161.31.

About Chevron

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.