Pinnacle West Asset Management Inc. Purchases 365 Shares of Chevron Co. (NYSE:CVX)

Pinnacle West Asset Management Inc. boosted its position in shares of Chevron Co. (NYSE:CVXFree Report) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,305 shares of the oil and gas company’s stock after purchasing an additional 365 shares during the quarter. Chevron comprises 1.8% of Pinnacle West Asset Management Inc.’s holdings, making the stock its 11th biggest position. Pinnacle West Asset Management Inc.’s holdings in Chevron were worth $2,134,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CVX. Bare Financial Services Inc acquired a new position in Chevron in the fourth quarter valued at about $27,000. Valley Forge Investment Consultants Inc. ADV raised its position in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $33,000. Clear Investment Research LLC boosted its stake in Chevron by 264.9% during the 4th quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 204 shares during the last quarter. Finally, Gold Investment Management Ltd. acquired a new position in Chevron during the fourth quarter valued at approximately $49,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX traded up $0.52 during midday trading on Friday, reaching $156.45. The stock had a trading volume of 385,792 shares, compared to its average volume of 7,998,858. The firm has a market cap of $288.33 billion, a PE ratio of 14.34, a P/E/G ratio of 2.28 and a beta of 1.12. The firm has a 50 day simple moving average of $160.55 and a 200-day simple moving average of $153.36. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVXGet Free Report) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter last year, the company posted $3.55 earnings per share. Chevron’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Co. will post 13.57 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $45,540. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the transaction, the director now owns 7,647 shares in the company, valued at approximately $1,231,167. The disclosure for this sale can be found here. Insiders sold 19,546 shares of company stock valued at $3,176,223 in the last quarter. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CVX has been the topic of a number of recent analyst reports. Barclays assumed coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. UBS Group raised their price target on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Truist Financial increased their target price on Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Finally, Wells Fargo & Company lifted their price target on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Get Our Latest Research Report on CVX

About Chevron

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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