Pineridge Advisors LLC Has $181,000 Position in Chevron Co. (NYSE:CVX)

Pineridge Advisors LLC grew its position in Chevron Co. (NYSE:CVX) by 286.7% during the 4th quarter, HoldingsChannel reports. The firm owned 1,253 shares of the oil and gas company’s stock after purchasing an additional 929 shares during the quarter. Pineridge Advisors LLC’s holdings in Chevron were worth $181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC increased its position in shares of Chevron by 15.1% during the third quarter. Sound Income Strategies LLC now owns 7,054 shares of the oil and gas company’s stock worth $1,039,000 after acquiring an additional 928 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in Chevron by 14.4% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 439,345 shares of the oil and gas company’s stock worth $64,702,000 after purchasing an additional 55,350 shares in the last quarter. High Net Worth Advisory Group LLC raised its stake in shares of Chevron by 3.3% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 13,451 shares of the oil and gas company’s stock valued at $1,981,000 after purchasing an additional 435 shares during the period. Capricorn Fund Managers Ltd lifted its holdings in shares of Chevron by 34.0% in the third quarter. Capricorn Fund Managers Ltd now owns 40,615 shares of the oil and gas company’s stock valued at $5,981,000 after purchasing an additional 10,306 shares in the last quarter. Finally, Smith Chas P & Associates PA Cpas boosted its position in shares of Chevron by 5.4% during the third quarter. Smith Chas P & Associates PA Cpas now owns 16,175 shares of the oil and gas company’s stock worth $2,382,000 after buying an additional 832 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron 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 in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CVX shares. Wells Fargo & Company cut their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. UBS Group reduced their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Raymond James lowered their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Finally, Bank of America began coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Trading Up 2.1 %

Shares of Chevron stock opened at $155.76 on Tuesday. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a market capitalization of $279.91 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 1.39 and a beta of 1.11. The business has a fifty day simple moving average of $152.21 and a two-hundred day simple moving average of $150.82. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the company posted $3.45 EPS. Research analysts forecast that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.39%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 67.08%.

About Chevron

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.