Peddock Capital Advisors LLC Has $9.08 Million Holdings in Chevron Co. (NYSE:CVX)

Peddock Capital Advisors LLC lowered its stake in Chevron Co. (NYSE:CVX) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,849 shares of the oil and gas company’s stock after selling 293 shares during the quarter. Chevron comprises approximately 2.8% of Peddock Capital Advisors LLC’s investment portfolio, making the stock its 6th biggest holding. Peddock Capital Advisors LLC’s holdings in Chevron were worth $9,076,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Advisory Inc. grew its holdings in shares of Chevron by 17.8% during the fourth quarter. Charles Schwab Investment Advisory Inc. now owns 1,935 shares of the oil and gas company’s stock worth $289,000 after buying an additional 293 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Chevron by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after acquiring an additional 1,999,332 shares in the last quarter. Aviance Capital Partners LLC raised its holdings in shares of Chevron by 5.9% in the fourth quarter. Aviance Capital Partners LLC now owns 5,165 shares of the oil and gas company’s stock valued at $770,000 after purchasing an additional 289 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Chevron in the fourth quarter worth $272,000. Finally, Apollon Wealth Management LLC boosted its holdings in Chevron by 33.4% during the fourth quarter. Apollon Wealth Management LLC now owns 64,554 shares of the oil and gas company’s stock worth $9,629,000 after purchasing an additional 16,180 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

CVX traded down $0.41 on Wednesday, hitting $162.26. 3,818,750 shares of the stock were exchanged, compared to its average volume of 8,411,986. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. Chevron Co. has a 12 month low of $139.62 and a 12 month high of $171.70. The firm has a market capitalization of $299.70 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 2.37 and a beta of 1.11. The business has a 50-day moving average of $157.62 and a two-hundred day moving average of $151.45.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $3.55 EPS. Sell-side analysts forecast that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio is presently 59.98%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays started coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. HSBC upped their target price on Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Mizuho upped their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Piper Sandler raised their target price on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $185.35.

Insiders Place Their Bets

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred 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 directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,247 shares of company stock valued at $2,154,164. 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.