Pinnacle Wealth Management Group Inc. Lowers Stock Position in Chevron Co. (NYSE:CVX)

Pinnacle Wealth Management Group Inc. decreased its holdings in Chevron Co. (NYSE:CVX) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,734 shares of the oil and gas company’s stock after selling 75 shares during the quarter. Pinnacle Wealth Management Group Inc.’s holdings in Chevron were worth $396,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Rational Advisors LLC acquired a new position in Chevron in the 3rd quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new position in Chevron during the third quarter worth $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron during the 3rd quarter worth approximately $31,000. Finally, Cyrus J. Lawrence LLC grew its holdings in shares of Chevron by 66.7% during 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 in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

Chevron Stock Up 1.3 %

CVX opened at $155.07 on Tuesday. The company has a market capitalization of $278.67 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. The business has a 50-day moving average of $153.71 and a 200-day moving average of $150.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the business posted $3.05 EPS. Equities research analysts forecast that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.20%. Chevron’s payout ratio is 71.65%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVX. Barclays increased their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Piper Sandler dropped their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Royal Bank of Canada increased their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Finally, Mizuho reduced their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $174.87.

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.