Pinnacle Wealth Planning Services Inc. Cuts Stock Holdings in Chevron Co. (NYSE:CVX)

Pinnacle Wealth Planning Services Inc. lowered its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 26.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. TFB Advisors LLC grew its position in Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock worth $411,000 after acquiring an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. lifted its stake in Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock worth $677,000 after purchasing an additional 66 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Chevron by 0.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock worth $2,207,000 after purchasing an additional 66 shares during the last quarter. Western Pacific Wealth Management LP lifted its stake in Chevron by 14.9% in the fourth quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company's stock worth $75,000 after purchasing an additional 67 shares during the last quarter. Finally, Berkeley Capital Partners LLC lifted its stake in Chevron by 0.4% in the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock worth $2,572,000 after purchasing an additional 67 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and lowered their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Royal Bank of Canada reissued an "outperform" rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Finally, Scotiabank downgraded shares of Chevron from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Chevron has a consensus rating of "Hold" and an average target price of $160.24.

Chevron Trading Down 1.3%

Shares of NYSE CVX traded down $1.78 during midday trading on Wednesday, hitting $136.05. 6,858,338 shares of the company traded hands, compared to its average volume of 8,077,876. Chevron Co. has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a 50-day moving average price of $143.58 and a 200 day moving average price of $150.94. The firm has a market cap of $237.60 billion, a P/E ratio of 14.00, a P/E/G ratio of 1.46 and a beta of 0.83.

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

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

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.