Chevron Co. (NYSE:CVX) Stock Position Lessened by Commerce Bank

Commerce Bank lowered its stake in Chevron Co. (NYSE:CVX) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 647,430 shares of the oil and gas company’s stock after selling 20,476 shares during the quarter. Commerce Bank’s holdings in Chevron were worth $93,774,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVX. Capital International Sarl raised its position in shares of Chevron by 22.7% during the 4th quarter. Capital International Sarl now owns 38,728 shares of the oil and gas company’s stock worth $5,609,000 after buying an additional 7,166 shares in the last quarter. Alpha DNA Investment Management LLC raised its holdings in Chevron by 2.3% during the fourth quarter. Alpha DNA Investment Management LLC now owns 6,716 shares of the oil and gas company’s stock worth $973,000 after purchasing an additional 152 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Chevron by 8.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,083,929 shares of the oil and gas company’s stock valued at $156,956,000 after purchasing an additional 86,143 shares in the last quarter. Dean Investment Associates LLC increased its position in shares of Chevron by 2.1% during the 4th quarter. Dean Investment Associates LLC now owns 65,320 shares of the oil and gas company’s stock valued at $9,461,000 after purchasing an additional 1,327 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of Chevron by 107.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 784,196 shares of the oil and gas company’s stock worth $113,583,000 after buying an additional 405,411 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX opened at $137.68 on Friday. The stock has a fifty day moving average price of $153.94 and a 200 day moving average price of $153.50. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a market cap of $242.39 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 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 period in the prior year, the firm posted $3.45 earnings per share. Analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is 70.37%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. UBS Group dropped their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Wells Fargo & Company decreased their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Finally, BNP Paribas cut Chevron to a “cautious” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $169.50.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s 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 owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

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.