Chevron Corporation (NYSE:CVX) Shares Sold by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. lessened its stake in Chevron Corporation (NYSE:CVX) by 0.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 11,626 shares of the oil and gas company’s stock after selling 80 shares during the period. Pinnacle Bancorp Inc.’s holdings in Chevron were worth $1,945,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. IMG Wealth Management Inc. acquired a new position in shares of Chevron in the fourth quarter valued at approximately $25,000. Life Planning Partners Inc purchased a new position in Chevron in the 4th quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron in the 4th quarter valued at $29,000. 10Elms LLP acquired a new position in Chevron in the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC raised its position in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after buying an additional 88 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Down 0.0%

Shares of CVX stock opened at $143.49 on Thursday. The stock has a market cap of $250.59 billion, a P/E ratio of 16.40, a P/E/G ratio of 2.52 and a beta of 0.83. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The business has a fifty day simple moving average of $139.95 and a 200-day simple moving average of $148.45.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.93 EPS. On average, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were given a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.77%. Chevron’s dividend payout ratio is presently 78.17%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CVX shares. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 target price (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Mizuho dropped their target price on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. BNP Paribas downgraded Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Finally, Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Chevron presently has an average rating of “Hold” and a consensus target price of $160.24.

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.