Pinion Investment Advisors LLC Has $811,000 Stake in Chevron Co. (NYSE:CVX)

Pinion Investment Advisors LLC reduced its holdings in Chevron Co. (NYSE:CVX) by 4.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,186 shares of the oil and gas company’s stock after selling 252 shares during the quarter. Pinion Investment Advisors LLC’s holdings in Chevron were worth $811,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Eagle Capital Management LLC grew its position in shares of Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after buying an additional 163 shares during the period. Lane & Associates LLC acquired a new position in Chevron during the first quarter valued at approximately $345,000. Seven Mile Advisory grew its holdings in Chevron by 9.8% during the fourth quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock valued at $413,000 after purchasing an additional 247 shares during the period. KCM Investment Advisors LLC raised its holdings in Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after purchasing an additional 8,168 shares during the period. Finally, Livelsberger Financial Advisory bought a new position in shares of Chevron during the fourth quarter worth $46,000. 72.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CVX has been the topic of several research analyst reports. Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Truist Financial dropped their price target on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Barclays dropped their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Scotiabank reduced their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Stock Performance

Shares of CVX opened at $140.61 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The firm has a 50-day moving average of $149.12 and a 200-day moving average of $154.73. The company has a market cap of $257.16 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 2.37 and a beta of 1.09. Chevron Co. has a one year low of $135.37 and a one year high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $3.08 EPS. As a group, equities analysts forecast that Chevron Co. will post 11.63 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

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.