Peddock Capital Advisors LLC Has $8.90 Million Stake in Chevron Co. (NYSE:CVX)

Peddock Capital Advisors LLC reduced its stake in Chevron Co. (NYSE:CVX) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,455 shares of the oil and gas company’s stock after selling 70 shares during the period. Chevron makes up 2.1% of Peddock Capital Advisors LLC’s portfolio, making the stock its 9th largest holding. Peddock Capital Advisors LLC’s holdings in Chevron were worth $8,901,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Legacy Investment Solutions LLC bought a new stake in shares of Chevron in the third quarter worth about $29,000. Rational Advisors LLC bought a new position in Chevron during the third quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new position in Chevron during the 3rd quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron in the 3rd quarter worth approximately $31,000. Finally, Cyrus J. Lawrence LLC raised its holdings in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of recent research reports. Royal Bank of Canada raised their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Bank of America initiated 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. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.87.

Chevron Stock Up 1.3 %

Shares of CVX opened at $155.07 on Tuesday. The firm has a fifty day moving average price of $153.71 and a 200-day moving average price of $150.94. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $278.67 billion, a P/E ratio of 17.04, a P/E/G ratio of 2.93 and a beta of 1.12. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $3.05 EPS. Equities research analysts expect that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.20%. Chevron’s payout ratio is currently 71.65%.

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.