Pinnacle Wealth Planning Services Inc. Decreases Position in Chevron Co. (NYSE:CVX)

Pinnacle Wealth Planning Services Inc. cut its holdings in Chevron Co. (NYSE:CVX - Free Report) by 26.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,760 shares of the oil and gas company's stock after selling 2,117 shares during the period. Pinnacle Wealth Planning Services Inc.'s holdings in Chevron were worth $834,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of Chevron by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after acquiring an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock worth $4,613,960,000 after purchasing an additional 746,806 shares in the last quarter. Norges Bank acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $3,017,750,000. Northern Trust Corp boosted its stake in shares of Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after buying an additional 1,394,091 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in Chevron by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock valued at $2,881,280,000 after purchasing an additional 410,460 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Up 1.1%

Shares of NYSE:CVX traded up $1.47 during midday trading on Thursday, reaching $137.49. The company's stock had a trading volume of 4,334,660 shares, compared to its average volume of 8,068,162. The firm has a market capitalization of $240.12 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.46 and a beta of 0.83. Chevron Co. has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a 50 day moving average price of $143.01 and a two-hundred day moving average price of $150.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period last year, the firm earned $2.93 earnings per share. The business's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent analyst reports. Mizuho cut their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Truist Financial cut their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Finally, Scotiabank cut Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $160.24.

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.