DekaBank Deutsche Girozentrale Acquires 229,326 Shares of Chevron Corporation (NYSE:CVX)

DekaBank Deutsche Girozentrale raised its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 12.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,142,159 shares of the oil and gas company's stock after purchasing an additional 229,326 shares during the quarter. Chevron accounts for approximately 0.7% of DekaBank Deutsche Girozentrale's portfolio, making the stock its 26th largest position. DekaBank Deutsche Girozentrale owned about 0.12% of Chevron worth $353,173,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IMG Wealth Management Inc. bought a new stake in Chevron during the 4th quarter valued at $25,000. Life Planning Partners Inc bought a new stake in Chevron during the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron during the 4th quarter valued at $29,000. 10Elms LLP bought a new stake in Chevron during the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC increased its stake in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

CVX traded up $2.38 on Tuesday, reaching $149.78. The company had a trading volume of 942,233 shares, compared to its average volume of 8,905,219. The business has a 50 day simple moving average of $141.31 and a 200 day simple moving average of $148.18. The company has a market cap of $261.58 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 2.51 and a beta of 0.83. 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 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. Chevron's quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm posted $2.93 earnings per share. As a group, sell-side analysts anticipate 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. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is currently 78.17%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. BNP Paribas lowered shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Wells Fargo & Company reiterated an "overweight" rating and issued a $165.00 target price (up previously from $164.00) on shares of Chevron in a research note on Thursday, June 26th. Piper Sandler upped their target price on shares of Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research note on Tuesday, May 6th. Finally, Scotiabank lowered shares of Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their target price for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Chevron currently has an average rating of "Hold" and a consensus price target of $160.65.

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.

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