Pettinga Financial Advisors LLC Buys 631 Shares of Chevron Co. (NYSE:CVX)

Pettinga Financial Advisors LLC lifted its stake in Chevron Co. (NYSE:CVX) by 11.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,974 shares of the oil and gas company’s stock after purchasing an additional 631 shares during the period. Pettinga Financial Advisors LLC’s holdings in Chevron were worth $720,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CVX. Horan Capital Advisors LLC. lifted its holdings in Chevron by 2.6% during the third quarter. Horan Capital Advisors LLC. now owns 3,311 shares of the oil and gas company’s stock valued at $393,000 after purchasing an additional 85 shares in the last quarter. Halsey Associates Inc. CT lifted its holdings in Chevron by 1.1% during the third quarter. Halsey Associates Inc. CT now owns 7,813 shares of the oil and gas company’s stock valued at $927,000 after purchasing an additional 85 shares in the last quarter. Empirical Finance LLC lifted its holdings in Chevron by 2.1% during the third quarter. Empirical Finance LLC now owns 4,205 shares of the oil and gas company’s stock valued at $499,000 after purchasing an additional 87 shares in the last quarter. Archford Capital Strategies LLC lifted its holdings in Chevron by 0.5% during the third quarter. Archford Capital Strategies LLC now owns 16,784 shares of the oil and gas company’s stock valued at $1,991,000 after purchasing an additional 88 shares in the last quarter. Finally, Shulman DeMeo Asset Management LLC lifted its holdings in Chevron by 0.8% during the third quarter. Shulman DeMeo Asset Management LLC now owns 11,798 shares of the oil and gas company’s stock valued at $1,399,000 after purchasing an additional 90 shares in the last quarter. Institutional investors own 65.20% of the company’s stock.

In related news, VP Rhonda J. Morris sold 7,800 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $119.68, for a total value of $933,504.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael K. Wirth sold 67,500 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $121.07, for a total transaction of $8,172,225.00. Following the completion of the sale, the chief executive officer now owns 33,750 shares in the company, valued at approximately $4,086,112.50. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

CVX has been the topic of several analyst reports. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and set a $137.00 price target on the stock in a report on Thursday, January 23rd. Credit Suisse Group lowered their price target on shares of Chevron from $135.00 to $128.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. HSBC reaffirmed a “neutral” rating and set a $115.00 price target on shares of Chevron in a report on Wednesday, February 12th. Citigroup downgraded shares of Chevron from a “buy” rating to a “neutral” rating in a report on Monday, December 9th. Finally, Piper Jaffray Companies initiated coverage on shares of Chevron in a report on Tuesday, November 26th. They set a “buy” rating and a $143.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $136.50.

Shares of CVX stock traded up $0.16 during mid-day trading on Tuesday, hitting $110.24. The company had a trading volume of 4,936,146 shares, compared to its average volume of 7,031,861. Chevron Co. has a 52-week low of $105.40 and a 52-week high of $127.34. The stock’s 50 day moving average price is $113.88 and its 200-day moving average price is $117.41. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.12 and a quick ratio of 0.93. The company has a market capitalization of $208.15 billion, a P/E ratio of 73.01, a P/E/G ratio of 2.60 and a beta of 1.00.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.47 by $0.02. Chevron had a net margin of 2.00% and a return on equity of 8.14%. The firm had revenue of $36.35 billion for the quarter, compared to the consensus estimate of $38.98 billion. During the same quarter in the previous year, the firm earned $1.95 earnings per share. The company’s quarterly revenue was down 14.2% compared to the same quarter last year. On average, equities research analysts expect that Chevron Co. will post 7.07 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 18th will be issued a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.19. Chevron’s payout ratio is 75.92%.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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