Czech National Bank Increases Holdings in Chevron Corporation $CVX

Czech National Bank increased its position in shares of Chevron Corporation (NYSE:CVX) by 23.1% in the third quarter, HoldingsChannel reports. The firm owned 488,796 shares of the oil and gas company’s stock after acquiring an additional 91,826 shares during the quarter. Chevron accounts for 0.5% of Czech National Bank’s portfolio, making the stock its 28th biggest position. Czech National Bank’s holdings in Chevron were worth $75,905,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Algert Global LLC raised its holdings in shares of Chevron by 22.7% during the first quarter. Algert Global LLC now owns 3,692 shares of the oil and gas company’s stock worth $618,000 after purchasing an additional 682 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Chevron in the first quarter valued at $1,011,000. Erste Asset Management GmbH boosted its holdings in Chevron by 33.4% in the first quarter. Erste Asset Management GmbH now owns 36,331 shares of the oil and gas company’s stock valued at $6,083,000 after purchasing an additional 9,102 shares during the last quarter. Tradition Wealth Management LLC grew its position in Chevron by 3.8% during the 1st quarter. Tradition Wealth Management LLC now owns 9,228 shares of the oil and gas company’s stock worth $1,544,000 after purchasing an additional 342 shares during the period. Finally, GDS Wealth Management raised its stake in shares of Chevron by 4.4% during the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock valued at $285,000 after buying an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. This represents a 19.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

Chevron Stock Down 1.2%

Chevron stock opened at $147.69 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. The stock has a market capitalization of $297.38 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 8.88 and a beta of 0.68. The business has a 50 day simple moving average of $152.34 and a 200-day simple moving average of $152.30. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.48 EPS. On average, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th were given a $1.71 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. Chevron’s dividend payout ratio (DPR) is 96.20%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent research reports. Bank of America lowered their target price on Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Zacks Research downgraded Chevron from a “hold” rating to a “strong sell” rating in a report on Monday, November 24th. Scotiabank raised their price objective on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. HSBC set a $169.00 target price on shares of Chevron and gave the company a “buy” rating in a report on Monday, December 1st. Finally, Mizuho boosted their target price on shares of Chevron from $204.00 to $206.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $166.00.

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.