Pittenger & Anderson Inc. Buys 17,685 Shares of Chevron Corporation $CVX

Key Points

• Pittenger & Anderson Inc. increased its stake in Chevron (CVX) by 80.7%, buying an additional 17,685 shares to hold 39,605 shares worth about $6.04 million per its latest 13F filing.
• Chevron reported adjusted Q1 EPS of $1.41, beating the Street, but headline net income fell roughly 36% due to derivative timing losses and hedges, and management flagged a worsened net‑debt‑to‑cash‑flow metric amid Middle East risks.
• The company declared a quarterly dividend of $1.78 (annualized $7.12) for a ~3.7% yield, though the payout ratio is elevated at 123.4%, which could raise sustainability concerns.

Pittenger & Anderson Inc. lifted its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 80.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,605 shares of the oil and gas company's stock after purchasing an additional 17,685 shares during the quarter. Pittenger & Anderson Inc.'s holdings in Chevron were worth $6,036,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CVX. Dakota Wealth Management boosted its holdings in shares of Chevron by 14.9% during the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company's stock worth $12,690,000 after purchasing an additional 10,822 shares during the last quarter. Brooklyn FI LLC acquired a new stake in shares of Chevron during the third quarter worth $431,000. New York State Teachers Retirement System boosted its holdings in shares of Chevron by 15.3% during the third quarter. New York State Teachers Retirement System now owns 1,620,231 shares of the oil and gas company's stock worth $251,606,000 after purchasing an additional 215,345 shares during the last quarter. Clear Trail Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth $10,167,000. Finally, Finemark National Bank & Trust boosted its holdings in shares of Chevron by 40.3% during the third quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company's stock worth $8,779,000 after purchasing an additional 16,243 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Adjusted Q1 results topped Street estimates — Chevron reported adjusted EPS of $1.41, outpacing consensus, helped by higher oil & gas realizations and upstream production gains (Hess integration lifted output). Chevron's upstream strength lifts first-quarter earnings past estimate
• Neutral Sentiment: Elevated crude prices from Middle East tensions remain a potential tailwind for future quarters, but the path is volatile and timing of higher realized profits depends on hedging and production recovery. Big Oil earnings and oil price context
• Neutral Sentiment: Wall Street positioning: analysts have been updating forecasts ahead of and after the print (some raise long‑term EPS outlooks), which could limit downside if guidance/forward cues are constructive. Analyst forecast changes ahead of Q1
• Negative Sentiment: Headline profits plunged (net income fell ~36%) primarily because of derivative timing losses and hedges that moved against Chevron, dragging reported earnings even though operational results improved. Profit hits five-year low due to hedging & timing
• Negative Sentiment: Balance‑sheet / cash‑flow signal: management flagged Middle East risks and the company’s net‑debt-to‑cash‑flow metric worsened, increasing investor concern about near‑term financial flexibility. Net debt to cash flow worsens; CEO flags risks
• Negative Sentiment: Short‑term market pressure from softening oil: crude weakened intraday (~3% drop), which pulled energy names lower and amplified selling after the mixed print. Crude oil down 3% and mixed Q1 coverage

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Melius Research upgraded Chevron from a "hold" rating to a "buy" rating and set a $205.00 price objective on the stock in a report on Tuesday, February 17th. Royal Bank Of Canada raised their price objective on Chevron from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, April 13th. BNP Paribas Exane upgraded Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 target price on the stock in a report on Friday, April 17th. Piper Sandler lifted their target price on Chevron from $179.00 to $242.00 and gave the company an "overweight" rating in a report on Thursday, March 12th. Finally, Freedom Capital cut Chevron from a "hold" rating to a "strong sell" rating in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $198.09.

Insider Activity at Chevron

In other Chevron news, insider R. Hewitt Pate sold 58,000 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $188.65, for a total transaction of $10,941,700.00. Following the transaction, the insider owned 8,558 shares in the company, valued at $1,614,466.70. The trade was a 87.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Thomas Ryder Booth sold 11,076 shares of the business's stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $184.40, for a total value of $2,042,414.40. Following the transaction, the chief technology officer owned 1,122 shares in the company, valued at approximately $206,896.80. This represents a 90.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 695,439 shares of company stock valued at $131,274,332 over the last 90 days. Corporate insiders own 0.56% of the company's stock.

Chevron Price Performance

Shares of Chevron stock opened at $190.79 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $380.12 billion, a P/E ratio of 33.07, a PEG ratio of 0.71 and a beta of 0.51. The business's fifty day moving average price is $193.08 and its 200 day moving average price is $171.23. Chevron Corporation has a twelve month low of $133.77 and a twelve month high of $214.71.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.44. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The firm had revenue of $48.61 billion during the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the prior year, the firm earned $2.18 EPS. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Corporation will post 14.13 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, May 19th. Chevron's payout ratio is currently 123.40%.

Chevron Company Profile

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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