Chevron Co. (NYSE:CVX) Shares Acquired by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. boosted its holdings in Chevron Co. (NYSE:CVX) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,411 shares of the oil and gas company’s stock after buying an additional 2,842 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Chevron were worth $5,431,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CVX. WealthTrust Axiom LLC lifted its stake in Chevron by 1.0% during the fourth quarter. WealthTrust Axiom LLC now owns 16,094 shares of the oil and gas company’s stock valued at $2,401,000 after buying an additional 166 shares in the last quarter. Certuity LLC lifted its position in shares of Chevron by 12.4% in the 4th quarter. Certuity LLC now owns 119,203 shares of the oil and gas company’s stock valued at $17,780,000 after acquiring an additional 13,116 shares in the last quarter. Norden Group LLC boosted its stake in Chevron by 13.2% in the 4th quarter. Norden Group LLC now owns 8,044 shares of the oil and gas company’s stock worth $1,200,000 after purchasing an additional 939 shares during the period. Islay Capital Management LLC purchased a new position in Chevron during the 4th quarter worth approximately $771,000. Finally, Field & Main Bank raised its stake in Chevron by 1.0% during the 4th quarter. Field & Main Bank now owns 18,559 shares of the oil and gas company’s stock valued at $2,768,000 after purchasing an additional 180 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CVX. UBS Group lifted their price target on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Mizuho raised their price objective on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Royal Bank of Canada increased their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Monday, January 8th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $185.35.

Chevron Stock Performance

Shares of CVX stock traded down $5.06 during midday trading on Tuesday, hitting $161.27. 8,385,004 shares of the company were exchanged, compared to its average volume of 8,453,420. The firm has a market capitalization of $299.52 billion, a P/E ratio of 15.07, a PEG ratio of 2.44 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The firm’s 50 day moving average price is $156.81 and its two-hundred day moving average price is $151.70.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.55 earnings per share. As a group, equities research analysts anticipate that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. Chevron’s payout ratio is presently 59.98%.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Thursday, April 25th. The shares were 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 in the company, valued at $45,540. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by corporate 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.