Chevron Co. (NYSE:CVX) Shares Sold by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC lowered its holdings in Chevron Co. (NYSE:CVX) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,531 shares of the oil and gas company’s stock after selling 714 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Chevron were worth $2,539,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CVX. International Assets Investment Management LLC lifted its holdings in Chevron by 19,404.1% in the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after acquiring an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC lifted its holdings in Chevron by 15,750.1% in the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after acquiring an additional 3,876,731 shares during the period. Pacer Advisors Inc. lifted its holdings in Chevron by 949.6% in the third quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock valued at $562,566,000 after acquiring an additional 3,456,008 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares during the period. Finally, State Street Corp increased its position in shares of Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after buying an additional 874,962 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company dropped their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Chevron Stock Down 0.4 %

CVX opened at $155.32 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $279.12 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. The business has a 50-day moving average of $151.86 and a two-hundred day moving average of $150.86. Chevron Co. has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the business earned $3.45 earnings per share. On average, research analysts expect that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.40%. Chevron’s payout ratio is 67.08%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate 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.