Erste Asset Management GmbH Makes New Investment in Chevron Co. (NYSE:CVX)

Erste Asset Management GmbH purchased a new stake in Chevron Co. (NYSE:CVX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,179 shares of the oil and gas company’s stock, valued at approximately $4,850,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Apella Capital LLC boosted its holdings in shares of Chevron by 6.5% in the second quarter. Apella Capital LLC now owns 8,035 shares of the oil and gas company’s stock worth $1,229,000 after buying an additional 489 shares during the period. Matrix Trust Co boosted its stake in Chevron by 6.5% in the 2nd quarter. Matrix Trust Co now owns 8,509 shares of the oil and gas company’s stock worth $1,331,000 after purchasing an additional 523 shares during the period. Albion Financial Group UT grew its position in Chevron by 3.9% during the 2nd quarter. Albion Financial Group UT now owns 20,968 shares of the oil and gas company’s stock worth $3,280,000 after purchasing an additional 793 shares in the last quarter. RDA Financial Network raised its stake in Chevron by 2.0% during the 2nd quarter. RDA Financial Network now owns 4,192 shares of the oil and gas company’s stock valued at $656,000 after purchasing an additional 82 shares during the period. Finally, Greenfield Savings Bank lifted its holdings in shares of Chevron by 0.8% in the second quarter. Greenfield Savings Bank now owns 12,180 shares of the oil and gas company’s stock valued at $1,905,000 after purchasing an additional 93 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CVX shares. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Barclays increased their price target on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Scotiabank lowered their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Royal Bank of Canada lifted their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.56.

Chevron Price Performance

Shares of NYSE:CVX opened at $162.21 on Tuesday. 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 has a market capitalization of $291.51 billion, a P/E ratio of 17.83, a P/E/G ratio of 3.58 and a beta of 1.10. The business has a 50-day moving average of $153.36 and a two-hundred day moving average of $152.46. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period in the previous year, the company earned $3.05 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities research analysts predict that Chevron Co. will post 10.53 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

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.