Pinnacle Wealth Management Advisory Group LLC Has $3.04 Million Holdings in Chevron Corporation (NYSE:CVX)

Pinnacle Wealth Management Advisory Group LLC grew its stake in shares of Chevron Corporation (NYSE:CVX) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,155 shares of the oil and gas company’s stock after acquiring an additional 624 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Chevron were worth $3,037,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Life Planning Partners Inc acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $25,000. 10Elms LLP bought a new position in Chevron in the fourth quarter valued at approximately $29,000. Navigoe LLC bought a new position in Chevron in the fourth quarter valued at approximately $33,000. IFS Advisors LLC increased its stake in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 116 shares during the last quarter. Finally, Cloud Capital Management LLC bought a new position in Chevron in the first quarter valued at approximately $39,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. BNP Paribas cut shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. UBS Group decreased their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. HSBC cut shares of Chevron from a “buy” rating to a “hold” rating and decreased their target price for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Wells Fargo & Company boosted their target price on shares of Chevron from $165.00 to $178.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Mizuho decreased their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $162.13.

Chevron Price Performance

CVX stock opened at $154.84 on Monday. The firm has a market cap of $270.40 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.44 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 12-month low of $132.04 and a 12-month high of $168.96. The company’s fifty day simple moving average is $145.12 and its 200 day simple moving average is $148.82.

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

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.42%. Chevron’s payout ratio is 78.17%.

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.