Commerce Bank Reduces Position in Chevron Co. (NYSE:CVX)

Commerce Bank lessened its holdings in shares of Chevron Co. (NYSE:CVXFree Report) by 29.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 722,245 shares of the oil and gas company’s stock after selling 300,577 shares during the period. Chevron accounts for approximately 0.8% of Commerce Bank’s investment portfolio, making the stock its 27th biggest position. Commerce Bank’s holdings in Chevron were worth $107,730,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Chevron by 4.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 440,778 shares of the oil and gas company’s stock worth $65,746,000 after buying an additional 16,758 shares during the last quarter. Oak Harbor Wealth Partners LLC raised its stake in shares of Chevron by 2.9% in the 4th quarter. Oak Harbor Wealth Partners LLC now owns 8,577 shares of the oil and gas company’s stock valued at $1,279,000 after acquiring an additional 239 shares during the period. WBI Investments LLC acquired a new position in shares of Chevron in the 4th quarter worth approximately $1,473,000. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Chevron by 18.9% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,181 shares of the oil and gas company’s stock worth $325,000 after purchasing an additional 347 shares during the period. Finally, Frazier Financial Advisors LLC acquired a new position in Chevron during the fourth quarter worth $121,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several analyst reports. Royal Bank of Canada boosted their target price on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Barclays assumed coverage on shares of Chevron in a research note on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price on the stock. UBS Group boosted their price target on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Raymond James raised their price objective on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Finally, DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a report on Tuesday, February 6th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.10.

Check Out Our Latest Report on Chevron

Chevron Stock Performance

NYSE CVX traded down $0.91 on Thursday, hitting $156.66. 4,405,077 shares of the company’s stock were exchanged, compared to its average volume of 8,151,416. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The firm has a market cap of $289.35 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 2.36 and a beta of 1.11. The firm’s 50-day moving average price is $160.15 and its two-hundred day moving average price is $152.38.

Chevron (NYSE:CVXGet Free Report) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the prior year, the company posted $3.55 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, research analysts expect that Chevron Co. will post 13.57 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The disclosure for this sale can be found here. Insiders sold 15,796 shares of company stock valued at $2,575,361 in the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Chevron Profile

(Free Report)

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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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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