Chevron Co. (NYSE:CVX) Shares Acquired by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC raised its stake in shares of Chevron Co. (NYSE:CVX) by 20.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,213 shares of the oil and gas company’s stock after acquiring an additional 1,575 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Chevron were worth $965,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Rock Creek Group LP lifted its stake in Chevron by 32.7% in the second quarter. Rock Creek Group LP now owns 5,872 shares of the oil and gas company’s stock worth $615,000 after acquiring an additional 1,446 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Chevron by 9.7% during the 2nd quarter. Toronto Dominion Bank now owns 1,341,182 shares of the oil and gas company’s stock worth $140,472,000 after buying an additional 118,984 shares during the last quarter. Smith Moore & CO. lifted its position in shares of Chevron by 2.5% during the 2nd quarter. Smith Moore & CO. now owns 14,578 shares of the oil and gas company’s stock worth $1,527,000 after buying an additional 360 shares during the last quarter. Mitchell Capital Management Co. lifted its position in shares of Chevron by 8.5% during the 2nd quarter. Mitchell Capital Management Co. now owns 12,663 shares of the oil and gas company’s stock worth $1,326,000 after buying an additional 995 shares during the last quarter. Finally, First Bank & Trust lifted its position in shares of Chevron by 13.6% during the 2nd quarter. First Bank & Trust now owns 30,176 shares of the oil and gas company’s stock worth $3,161,000 after buying an additional 3,607 shares during the last quarter. Institutional investors and hedge funds own 65.78% of the company’s stock.

NYSE:CVX opened at $96.20 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 0.30. Chevron Co. has a 52-week low of $65.16 and a 52-week high of $113.11. The firm has a market cap of $186.04 billion, a P/E ratio of 51.44, a PEG ratio of 2.85 and a beta of 1.32. The business’s 50-day moving average price is $99.47 and its 200 day moving average price is $103.55.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Thursday, July 29th. The oil and gas company reported $1.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.12. The business had revenue of $37.60 billion during the quarter, compared to analyst estimates of $35.98 billion. Chevron had a return on equity of 3.89% and a net margin of 3.01%. The firm’s revenue was up 169.5% on a year-over-year basis. During the same period in the previous year, the company earned ($1.59) EPS. Sell-side analysts expect that Chevron Co. will post 6.74 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Thursday, August 19th were issued a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 5.57%. The ex-dividend date was Wednesday, August 18th. Chevron’s payout ratio is presently -2,680.00%.

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their target price on shares of Chevron from $127.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, June 18th. Raymond James lifted their target price on shares of Chevron from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, August 2nd. JPMorgan Chase & Co. cut shares of Chevron from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $128.00 to $111.00 in a research note on Wednesday. Redburn Partners raised shares of Chevron from a “neutral” rating to a “buy” rating in a research note on Thursday, July 22nd. Finally, HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and dropped their price objective for the company from $127.00 to $112.00 in a research note on Thursday, July 22nd. Eleven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $118.29.

Chevron Profile

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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