Pinkerton Wealth LLC Boosts Stock Holdings in Chevron Corporation $CVX

Pinkerton Wealth LLC lifted its holdings in Chevron Corporation (NYSE:CVX) by 6.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 32,088 shares of the oil and gas company’s stock after purchasing an additional 1,963 shares during the period. Pinkerton Wealth LLC’s holdings in Chevron were worth $4,595,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Scotia Capital Inc. raised its stake in shares of Chevron by 7.4% during the 1st quarter. Scotia Capital Inc. now owns 59,700 shares of the oil and gas company’s stock worth $9,987,000 after acquiring an additional 4,139 shares in the last quarter. Avalon Trust Co increased its position in Chevron by 26.1% during the 1st quarter. Avalon Trust Co now owns 943 shares of the oil and gas company’s stock valued at $158,000 after buying an additional 195 shares in the last quarter. Raiffeisen Bank International AG raised its stake in Chevron by 8.4% in the first quarter. Raiffeisen Bank International AG now owns 1,954 shares of the oil and gas company’s stock valued at $325,000 after buying an additional 151 shares during the last quarter. Earned Wealth Advisors LLC acquired a new stake in Chevron in the first quarter worth about $394,000. Finally, Gill Capital Partners LLC grew its stake in shares of Chevron by 4.9% during the first quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company’s stock worth $271,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the subject of a number of recent analyst reports. Scotiabank boosted their target price on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Mizuho boosted their price objective on shares of Chevron from $191.00 to $204.00 and gave the company an “outperform” rating in a report on Thursday, November 13th. TD Cowen raised their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Barclays dropped their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Finally, Morgan Stanley raised their price objective on Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $166.16.

Chevron Stock Performance

NYSE CVX opened at $152.53 on Tuesday. The stock has a 50-day simple moving average of $153.90 and a two-hundred day simple moving average of $151.37. The firm has a market capitalization of $307.12 billion, a P/E ratio of 19.63, a PEG ratio of 4.40 and a beta of 0.83. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.48 earnings per share. On average, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron’s dividend payout ratio (DPR) is presently 96.20%.

Insider Activity

In related news, Director John B. Hess sold 275,000 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the transaction, the director directly owned 1,128,045 shares in the company, valued at $170,052,783.75. The trade was a 19.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by corporate 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.