Chevron Co. (NYSE:CVX) Shares Sold by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. cut its stake in Chevron Co. (NYSE:CVX) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,669 shares of the oil and gas company’s stock after selling 2,297 shares during the period. Pittenger & Anderson Inc.’s holdings in Chevron were worth $9,944,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CVX. Picton Mahoney Asset Management purchased a new position in shares of Chevron in the third quarter worth approximately $26,000. Valley Forge Investment Consultants Inc. ADV lifted its stake in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Chevron during the 4th quarter worth about $33,000. Legacy Financial Group LLC bought a new position in shares of Chevron in the 3rd quarter valued at approximately $43,000. Finally, Roble Belko & Company Inc boosted its position in Chevron by 77.3% during the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of a number of research reports. Raymond James boosted their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Mizuho lifted their price objective on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Royal Bank of Canada upped 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. Barclays began coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price on the stock. Finally, Wells Fargo & Company boosted their price target on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $184.75.

Chevron Trading Down 0.1 %

NYSE CVX traded down $0.12 on Friday, reaching $165.16. The company had a trading volume of 5,654,525 shares, compared to its average volume of 8,427,814. The business has a 50 day moving average of $156.35 and a two-hundred day moving average of $151.84. The firm has a market cap of $306.75 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 2.41 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, missing analysts’ consensus estimates of $3.06 by ($0.13). The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.55 earnings per share. Analysts forecast that Chevron Co. will post 13.58 EPS for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 3.95%. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.18% of the stock is owned by company insiders.

About Chevron

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.