DekaBank Deutsche Girozentrale Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

DekaBank Deutsche Girozentrale reduced its position in shares of Chevron Co. (NYSE:CVX) by 4.6% in the third quarter, HoldingsChannel.com reports. The firm owned 1,912,833 shares of the oil and gas company’s stock after selling 92,807 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Chevron were worth $278,287,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Trifecta Capital Advisors LLC lifted its position in Chevron by 9.9% during the first quarter. Trifecta Capital Advisors LLC now owns 24,442 shares of the oil and gas company’s stock valued at $3,856,000 after buying an additional 2,210 shares during the period. Opinicus Capital Inc. boosted its stake in Chevron by 44.0% during the first quarter. Opinicus Capital Inc. now owns 6,207 shares of the oil and gas company’s stock worth $979,000 after acquiring an additional 1,896 shares in the last quarter. MCF Advisors LLC grew its holdings in Chevron by 0.7% in the first quarter. MCF Advisors LLC now owns 9,437 shares of the oil and gas company’s stock worth $1,489,000 after purchasing an additional 66 shares during the period. WoodTrust Financial Corp increased its stake in shares of Chevron by 8.4% during the first quarter. WoodTrust Financial Corp now owns 40,054 shares of the oil and gas company’s stock valued at $6,319,000 after purchasing an additional 3,108 shares in the last quarter. Finally, Grimes & Company Inc. lifted its holdings in shares of Chevron by 3.8% during the first quarter. Grimes & Company Inc. now owns 55,532 shares of the oil and gas company’s stock valued at $8,760,000 after purchasing an additional 2,022 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Truist Financial reduced their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Mizuho decreased their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Finally, Wells Fargo & Company cut their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Chevron Trading Up 0.2 %

Shares of NYSE:CVX opened at $150.81 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market capitalization of $277.94 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 3.30 and a beta of 1.09. The stock’s 50-day simple moving average is $146.59 and its two-hundred day simple moving average is $153.23. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the previous year, the firm earned $3.08 EPS. The company’s revenue was up 4.7% on a year-over-year basis. Analysts expect that Chevron Co. will post 10.86 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

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.