Pinnacle Wealth Planning Services Inc. Sells 2,117 Shares of Chevron Co. (NYSE:CVX)

Pinnacle Wealth Planning Services Inc. cut its stake in Chevron Co. (NYSE:CVX - Free Report) by 26.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Yoffe Investment Management LLC bought a new position in Chevron in the fourth quarter worth about $430,000. LifeWealth Investments LLC bought a new stake in Chevron in the fourth quarter worth about $211,000. Capital A Wealth Management LLC acquired a new stake in Chevron in the 4th quarter valued at about $77,000. Lakeshore Capital Group Inc. acquired a new position in shares of Chevron in the 4th quarter worth approximately $615,000. Finally, Virtue Capital Management LLC grew its stake in shares of Chevron by 10.8% in the 4th quarter. Virtue Capital Management LLC now owns 3,223 shares of the oil and gas company's stock worth $467,000 after purchasing an additional 314 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Up 0.9%

CVX stock traded up $1.24 during trading hours on Tuesday, hitting $137.78. The company's stock had a trading volume of 8,339,036 shares, compared to its average volume of 8,082,749. The stock has a 50 day moving average price of $144.12 and a two-hundred day moving average price of $151.03. Chevron Co. has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a market capitalization of $240.62 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter in the prior year, the company posted $2.93 EPS. The firm's revenue was down 2.3% on a year-over-year basis. On average, equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's payout ratio is 78.17%.

Wall Street Analyst Weigh In

CVX has been the topic of several research reports. HSBC cut Chevron from a "buy" rating to a "hold" rating and dropped their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. UBS Group reduced their target price on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a research report on Tuesday, May 6th. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Finally, Raymond James cut their price target on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $160.24.

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.