Pittenger & Anderson Inc. Buys 4,535 Shares of Chevron Co. (NYSE:CVX)

Pittenger & Anderson Inc. boosted its position in shares of Chevron Co. (NYSE:CVX) by 6.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 74,036 shares of the oil and gas company’s stock after buying an additional 4,535 shares during the period. Pittenger & Anderson Inc.’s holdings in Chevron were worth $10,903,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in shares of Chevron by 19,404.1% during the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after purchasing an additional 4,876,260 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in Chevron by 15,750.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after acquiring an additional 3,876,731 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Chevron by 55.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after acquiring an additional 3,048,819 shares during the period. Wulff Hansen & CO. raised its position in shares of Chevron by 15,542.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after acquiring an additional 1,168,137 shares in the last quarter. Finally, Capital International Investors lifted its stake in shares of Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after purchasing an additional 743,042 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Up 0.3 %

Chevron stock opened at $154.40 on Tuesday. The business’s 50-day simple moving average is $147.07 and its two-hundred day simple moving average is $152.91. 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 company has a market cap of $282.39 billion, a PE ratio of 16.92, a PEG ratio of 3.39 and a beta of 1.09. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the company earned $3.05 EPS. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. Equities analysts anticipate that Chevron Co. will post 10.7 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.22%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CVX shares. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Truist Financial lifted their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday. Barclays lifted their price target on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $174.93.

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.