Commerce Bank Sells 18,664 Shares of Chevron Co. (NYSE:CVX)

Commerce Bank reduced its stake in Chevron Co. (NYSE:CVX - Free Report) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 667,906 shares of the oil and gas company's stock after selling 18,664 shares during the period. Commerce Bank's holdings in Chevron were worth $98,363,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its holdings in Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company's stock worth $2,676,957,000 after purchasing an additional 501,969 shares in the last quarter. Capital World Investors grew its position in Chevron by 3.2% in the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company's stock worth $2,525,380,000 after buying an additional 495,879 shares during the last quarter. Legal & General Group Plc grew its position in Chevron by 4.9% in the second quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company's stock worth $2,122,772,000 after buying an additional 629,644 shares during the last quarter. Capital International Investors grew its position in Chevron by 5.9% in the first quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company's stock worth $2,116,600,000 after buying an additional 743,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Chevron by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company's stock worth $2,036,846,000 after buying an additional 126,889 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.5 %

Shares of CVX stock traded up $0.85 during trading hours on Wednesday, hitting $160.45. 2,263,727 shares of the company were exchanged, compared to its average volume of 7,633,293. The business has a 50 day moving average of $150.23 and a two-hundred day moving average of $152.57. 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 52 week low of $135.37 and a 52 week high of $167.11. The company has a market capitalization of $288.34 billion, a PE ratio of 17.62, a PEG ratio of 3.63 and a beta of 1.09.

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

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 4.06%. The ex-dividend date is Monday, November 18th. Chevron's dividend payout ratio (DPR) is currently 71.65%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Scotiabank decreased their target price on shares of Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company reduced their price objective on shares of Chevron from $196.00 to $169.00 and set an "overweight" rating for the company in a research note on Friday, September 27th. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They set a "buy" rating and a $168.00 target price for the company. Truist Financial boosted their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. Finally, Mizuho cut their target price on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating for the company in a research report on Monday, September 16th. 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.93.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm'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 owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company's stock.

Chevron 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.