German American Bancorp Inc. Purchases 849 Shares of Chevron Co. (NYSE:CVX)

German American Bancorp Inc. increased its position in shares of Chevron Co. (NYSE:CVX) by 33.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,383 shares of the oil and gas company’s stock after purchasing an additional 849 shares during the period. German American Bancorp Inc.’s holdings in Chevron were worth $498,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVX. Landscape Capital Management L.L.C. bought a new position in shares of Chevron during the third quarter valued at approximately $2,945,000. Intech Investment Management LLC lifted its holdings in shares of Chevron by 1.9% in the 3rd quarter. Intech Investment Management LLC now owns 72,668 shares of the oil and gas company’s stock valued at $10,702,000 after buying an additional 1,343 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Chevron by 3.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 436,127 shares of the oil and gas company’s stock valued at $64,228,000 after acquiring an additional 14,909 shares during the period. Cornerstone Advisors LLC raised its position in shares of Chevron by 0.4% during the 3rd quarter. Cornerstone Advisors LLC now owns 80,400 shares of the oil and gas company’s stock worth $11,841,000 after purchasing an additional 300 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its holdings in shares of Chevron by 10.4% during the third quarter. Citizens Financial Group Inc. RI now owns 55,736 shares of the oil and gas company’s stock worth $8,208,000 after buying an additional 5,242 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Performance

Shares of CVX opened at $161.30 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $150.70 and a two-hundred day moving average of $152.63. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a market cap of $289.87 billion, a P/E ratio of 17.73, a PEG ratio of 3.59 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings results 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. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $3.05 EPS. As a group, research analysts predict that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVX. Truist Financial raised their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Bank of America began coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Scotiabank reduced their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Finally, Mizuho decreased their price objective on 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $174.93.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was 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 of the company’s stock, valued at approximately $685,356.40. The trade was 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 accessible through this hyperlink. 0.20% of the stock is owned by company insiders.

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.