Commerzbank Aktiengesellschaft FI increased its position in Chevron Co. (NYSE:CVX) by 46.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,522 shares of the oil and gas company’s stock after acquiring an additional 39,274 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Chevron were worth $15,589,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in CVX. Foundry Partners LLC grew its holdings in Chevron by 125.0% during the 4th quarter. Foundry Partners LLC now owns 274,905 shares of the oil and gas company’s stock valued at $34,415,000 after buying an additional 152,705 shares in the last quarter. FTB Advisors Inc. grew its holdings in Chevron by 90.9% during the 4th quarter. FTB Advisors Inc. now owns 48,763 shares of the oil and gas company’s stock valued at $6,127,000 after buying an additional 23,221 shares in the last quarter. Villere ST Denis J & Co. LLC grew its holdings in Chevron by 32.3% during the 4th quarter. Villere ST Denis J & Co. LLC now owns 74,898 shares of the oil and gas company’s stock valued at $9,376,000 after buying an additional 18,285 shares in the last quarter. Hoertkorn Richard Charles grew its holdings in Chevron by 2.8% during the 4th quarter. Hoertkorn Richard Charles now owns 16,365 shares of the oil and gas company’s stock valued at $2,049,000 after buying an additional 450 shares in the last quarter. Finally, Bank of Stockton grew its holdings in Chevron by 15.8% during the 4th quarter. Bank of Stockton now owns 23,398 shares of the oil and gas company’s stock valued at $2,929,000 after buying an additional 3,195 shares in the last quarter. 64.98% of the stock is owned by institutional investors.
CVX has been the subject of a number of research analyst reports. Goldman Sachs lowered shares of Chevron from a “conviction-buy” rating to a “buy” rating in a report on Monday, February 5th. Credit Suisse Group cut their price objective on shares of Chevron from $129.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, March 7th. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Scotiabank reaffirmed a “buy” rating and set a $130.00 price objective on shares of Chevron in a report on Friday, December 22nd. Finally, Piper Jaffray reaffirmed a “buy” rating and set a $153.00 price objective on shares of Chevron in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company. Chevron currently has a consensus rating of “Buy” and an average target price of $129.79.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). The company had revenue of $37.62 billion during the quarter, compared to the consensus estimate of $38.43 billion. Chevron had a return on equity of 5.22% and a net margin of 6.49%. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share. sell-side analysts anticipate that Chevron Co. will post 6.35 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Friday, February 16th were given a $1.12 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a yield of 3.93%. Chevron’s dividend payout ratio (DPR) is currently 121.08%.
Chevron Company Profile
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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