Pittenger & Anderson Inc. Raises Stake in Chevron Co. (CVX)

Pittenger & Anderson Inc. raised its holdings in shares of Chevron Co. (NYSE:CVX) by 62.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,140 shares of the oil and gas company’s stock after acquiring an additional 12,015 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Chevron were worth $3,937,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CVX. Live Your Vision LLC boosted its holdings in shares of Chevron by 308.0% in the 2nd quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 616 shares during the last quarter. Point72 Asia Hong Kong Ltd boosted its holdings in shares of Chevron by 20,716.7% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock valued at $142,000 after buying an additional 1,243 shares during the last quarter. Shine Investment Advisory Services Inc. boosted its holdings in shares of Chevron by 45.4% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,479 shares of the oil and gas company’s stock valued at $187,000 after buying an additional 462 shares during the last quarter. BigSur Wealth Management LLC acquired a new stake in shares of Chevron in the 2nd quarter valued at approximately $200,000. Finally, First National Bank of Hutchinson acquired a new stake in shares of Chevron in the 2nd quarter valued at approximately $200,000. 64.67% of the stock is owned by institutional investors.

In other news, EVP James William Johnson sold 4,750 shares of Chevron stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $120.92, for a total transaction of $574,370.00. Following the completion of the sale, the executive vice president now owns 4,750 shares of the company’s stock, valued at $574,370. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 23,750 shares of company stock valued at $2,821,833 in the last three months. Insiders own 0.38% of the company’s stock.

Shares of Chevron stock opened at $115.49 on Friday. Chevron Co. has a 1 year low of $107.54 and a 1 year high of $133.88. The firm has a market cap of $221.48 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 2.00 and a beta of 1.13. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.22 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.05. Chevron had a return on equity of 8.19% and a net margin of 8.79%. The business had revenue of $43.99 billion during the quarter, compared to the consensus estimate of $47.17 billion. During the same quarter last year, the firm posted $1.03 EPS. The company’s quarterly revenue was up 21.5% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Co. will post 8.26 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Thursday, November 15th. Chevron’s dividend payout ratio is currently 121.08%.

Several equities research analysts have recently commented on the company. Credit Suisse Group raised Chevron from a “neutral” rating to an “outperform” rating and set a $138.00 price objective for the company in a report on Monday, November 5th. Bank of America reissued a “neutral” rating and issued a $140.00 price objective (up previously from $135.00) on shares of Chevron in a report on Monday, November 5th. Berenberg Bank began coverage on Chevron in a report on Tuesday, September 11th. They issued a “hold” rating and a $135.00 price objective for the company. HSBC raised Chevron from a “hold” rating to a “buy” rating in a report on Tuesday, September 11th. Finally, Redburn Partners downgraded Chevron from a “buy” rating to a “neutral” rating and cut their price target for the company from $130.00 to $115.00 in a report on Wednesday, October 3rd. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $139.13.

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Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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