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

Pettinga Financial Advisors LLC increased its stake in Chevron Co. (NYSE:CVX) by 10.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,972 shares of the oil and gas company’s stock after acquiring an additional 272 shares during the quarter. Pettinga Financial Advisors LLC’s holdings in Chevron were worth $438,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Anfield Capital Management LLC increased its stake in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC boosted its holdings in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the period. Krane Funds Advisors LLC purchased a new position in shares of Chevron in the third quarter worth approximately $47,000. Livelsberger Financial Advisory acquired a new stake in shares of Chevron during the third quarter valued at approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Chevron during the first quarter valued at approximately $55,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Up 0.2 %

Shares of CVX stock opened at $150.82 on Friday. The company has a market capitalization of $277.96 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 3.30 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock’s 50 day simple moving average is $146.59 and its 200 day simple moving average is $153.36. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.08 EPS. As a group, research analysts predict that Chevron Co. will post 10.86 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CVX shares. Royal Bank of Canada reiterated an “outperform” rating and set a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Mizuho reduced their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Barclays decreased their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Bank of America started coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Finally, Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.07.

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.