Pinnacle Wealth Management Advisory Group LLC Purchases 483 Shares of Chevron Co. (NYSE:CVX)

Pinnacle Wealth Management Advisory Group LLC lifted its position in Chevron Co. (NYSE:CVX) by 2.5% during the 4th quarter, HoldingsChannel reports. The firm owned 20,127 shares of the oil and gas company’s stock after buying an additional 483 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Chevron were worth $3,002,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Picton Mahoney Asset Management purchased a new stake in shares of Chevron in the 3rd quarter valued at about $26,000. Bare Financial Services Inc bought a new stake in Chevron during the fourth quarter valued at approximately $27,000. Valley Forge Investment Consultants Inc. ADV grew its stake in 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 worth $30,000 after buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter valued at $33,000. Finally, Roble Belko & Company Inc grew its position in Chevron by 77.3% in the fourth quarter. Roble Belko & Company Inc now owns 344 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $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, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the sale, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the 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 transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,247 shares of company stock valued at $2,154,164. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CVX. Royal Bank of Canada lifted their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research note on Tuesday, February 6th. Piper Sandler lifted their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. UBS Group upped their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Finally, HSBC lifted their target price on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $185.35.

Chevron Trading Up 1.2 %

Chevron stock traded up $1.98 during mid-day trading on Thursday, reaching $164.52. 2,387,813 shares of the company traded hands, compared to its average volume of 8,376,609. 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 52-week low of $139.62 and a 52-week high of $171.70. The firm has a market capitalization of $303.87 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 2.37 and a beta of 1.11. The firm’s 50 day moving average price is $157.62 and its 200 day moving average price is $151.45.

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

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s payout ratio is currently 59.98%.

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.