B. Metzler seel. Sohn & Co. Holding AG Invests $10.96 Million in Chevron Co. (NYSE:CVX)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Chevron Co. (NYSE:CVX - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 74,422 shares of the oil and gas company's stock, valued at approximately $10,959,000.

Several other hedge funds also recently made changes to their positions in CVX. Rational Advisors LLC bought a new stake in shares of Chevron during the third quarter valued at approximately $29,000. Anfield Capital Management LLC boosted its position in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC boosted its position in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in Chevron in the third quarter worth $47,000. Finally, Livelsberger Financial Advisory bought a new stake in Chevron in the third quarter worth $47,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CVX has been the topic of several analyst reports. Bank of America initiated coverage on Chevron in a report on Thursday, October 17th. They issued a "buy" rating and a $168.00 target price on the stock. Wells Fargo & Company dropped their target price on Chevron from $196.00 to $169.00 and set an "overweight" rating on the stock in a report on Friday, September 27th. DZ Bank raised Chevron from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Scotiabank dropped their target price on Chevron from $180.00 to $163.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Finally, Truist Financial boosted their price target on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $174.93.

Chevron Stock Performance

Chevron stock traded down $1.15 during mid-day trading on Tuesday, reaching $159.61. 4,656,781 shares of the stock traded hands, compared to its average volume of 7,657,261. The stock has a market capitalization of $286.83 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The business's 50-day moving average is $149.80 and its 200-day moving average is $152.57.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts' consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analysts' expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.05 earnings per share. As a group, sell-side analysts predict that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Monday, November 18th. Chevron's payout ratio is 71.65%.

Insiders Place Their Bets

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 stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company's stock.

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.