Pettinga Financial Advisors LLC Has $402,000 Stock Holdings in Chevron Co. (NYSE:CVX)

Pettinga Financial Advisors LLC grew its holdings in shares of Chevron Co. (NYSE:CVX) by 14.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,697 shares of the oil and gas company’s stock after purchasing an additional 341 shares during the quarter. Pettinga Financial Advisors LLC’s holdings in Chevron were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Picton Mahoney Asset Management acquired a new stake in shares of Chevron during the 3rd quarter valued at about $26,000. Valley Forge Investment Consultants Inc. ADV boosted its stake in Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC bought a new position in Chevron during the 4th quarter worth about $33,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Chevron in the 3rd quarter valued at about $35,000. Finally, Worth Asset Management LLC bought a new stake in Chevron during the 1st quarter worth about $36,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

NYSE:CVX traded up $1.76 during mid-day trading on Thursday, hitting $158.11. 4,733,094 shares of the stock traded hands, compared to its average volume of 8,712,957. The business’s 50-day moving average price is $151.34 and its 200 day moving average price is $152.65. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The company has a market cap of $293.65 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.88.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same quarter last year, the company earned $4.09 earnings per share. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. On average, analysts expect that Chevron Co. will post 13.04 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CVX shares. Mizuho upped their target price on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Piper Sandler dropped their target price on Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target on the stock. in a research report on Tuesday, January 16th. TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Finally, UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, December 14th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $180.39.

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.