B. Metzler seel. Sohn & Co. AG Decreases Stake in Chevron Co. (NYSE:CVX)

B. Metzler seel. Sohn & Co. AG decreased its holdings in shares of Chevron Co. (NYSE:CVX) by 43.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,737 shares of the oil and gas company’s stock after selling 32,685 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Chevron were worth $6,042,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. State Street Corp raised its holdings in Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after acquiring an additional 874,962 shares during the last quarter. Allianz SE acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $9,369,000. Nicholas Company Inc. boosted its stake in Chevron by 4.3% during the fourth quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after buying an additional 3,280 shares during the last quarter. Dale Q Rice Investment Management Ltd purchased a new stake in Chevron in the 4th quarter valued at $594,000. Finally, Unified Investment Management acquired a new stake in shares of Chevron in the 4th quarter worth $729,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Up 0.9 %

Chevron stock opened at $167.52 on Tuesday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $168.96. The stock has a market cap of $294.94 billion, a PE ratio of 17.23, a P/E/G ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock’s fifty day moving average is $157.22 and its two-hundred day moving average is $153.80.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the company posted $3.45 earnings per share. On average, sell-side analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.08%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays lowered their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Piper Sandler dropped their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company reduced their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Truist Financial lowered their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Company Profile

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.