Chevron Co. (NYSE:CVX) Shares Purchased by Pettinga Financial Advisors LLC

Pettinga Financial Advisors LLC raised its position in Chevron Co. (NYSE:CVX) by 14.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,697 shares of the oil and gas company’s stock after buying an additional 341 shares during the quarter. Pettinga Financial Advisors LLC’s holdings in Chevron were worth $402,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC lifted its holdings in shares of Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after buying an additional 24,467,521 shares during the period. Norges Bank purchased a new position in Chevron in the fourth quarter worth $3,058,235,000. Imprint Wealth LLC boosted its position in shares of Chevron by 15,457.0% during the 2nd quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock worth $537,835,000 after purchasing an additional 5,343,782 shares in the last quarter. Morgan Stanley grew its stake in shares of Chevron by 12.7% during the 4th quarter. Morgan Stanley now owns 32,906,060 shares of the oil and gas company’s stock worth $5,906,309,000 after purchasing an additional 3,711,923 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in shares of Chevron by 570.0% in the 4th quarter. Lazard Asset Management LLC now owns 2,813,051 shares of the oil and gas company’s stock valued at $504,913,000 after purchasing an additional 2,393,200 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CVX shares. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Monday, January 8th. UBS Group dropped their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. Mizuho boosted their target price on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Royal Bank of Canada raised their price target on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research report on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $180.39.

Chevron Trading Up 1.1 %

Shares of CVX traded up $1.76 on Thursday, hitting $158.11. 4,733,094 shares of the stock traded hands, compared to its average volume of 8,712,957. The stock’s 50 day moving average is $151.34 and its two-hundred day moving average is $152.65. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $293.65 billion, a P/E ratio of 13.86, a P/E/G ratio of 2.38 and a beta of 1.12. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $172.88.

Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.09 earnings per share. As a group, sell-side analysts predict that Chevron Co. will post 13.04 earnings per share for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.12%. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s payout ratio is presently 57.39%.

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.