Peddock Capital Advisors LLC Trims Stock Position in Chevron Co. (NYSE:CVX)

Peddock Capital Advisors LLC reduced its position in shares of Chevron Co. (NYSE:CVX) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,849 shares of the oil and gas company’s stock after selling 293 shares during the period. Chevron comprises approximately 2.8% of Peddock Capital Advisors LLC’s holdings, making the stock its 6th largest holding. Peddock Capital Advisors LLC’s holdings in Chevron were worth $9,076,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CVX. Windsor Advisory Group LLC grew its holdings in shares of Chevron by 24.0% during the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after purchasing an additional 720 shares during the last quarter. Renaissance Investment Group LLC boosted its position in Chevron by 12.7% during the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 697 shares during the period. Altrius Capital Management Inc grew its stake in Chevron by 2.1% during the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after buying an additional 434 shares during the last quarter. Camelot Portfolios LLC acquired a new stake in Chevron in the fourth quarter worth $254,000. Finally, Kapstone Financial Advisors LLC lifted its stake in Chevron by 5.3% in the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after buying an additional 211 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CVX. Raymond James upped their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. TD Cowen boosted their price objective on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Piper Sandler raised their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Finally, Mizuho lifted their target price on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $185.35.

Chevron Price Performance

Shares of CVX traded down $0.41 during mid-day trading on Wednesday, hitting $162.26. The company’s stock had a trading volume of 3,818,750 shares, compared to its average volume of 8,411,986. Chevron Co. has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The stock has a market capitalization of $299.70 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 2.37 and a beta of 1.11. The firm has a 50-day moving average price of $157.62 and a 200 day moving average price of $151.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the previous year, the business posted $3.55 earnings per share. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, research analysts predict that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio is 59.98%.

Insider Activity at Chevron

In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total transaction of $833,523.00. Following the transaction, the director now directly owns 2,549 shares of the company’s stock, valued at $416,761.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The disclosure for this sale can be found here. Insiders sold 13,247 shares of company stock worth $2,154,164 in the last quarter. 0.20% of the stock is owned by company insiders.

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.