Pinnacle Financial Partners Inc. lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,151 shares of the oil and gas company’s stock after purchasing an additional 6,103 shares during the period. Chevron accounts for about 1.2% of Pinnacle Financial Partners Inc.’s portfolio, making the stock its 12th biggest position. Pinnacle Financial Partners Inc.’s holdings in Chevron were worth $11,286,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in CVX. Fusion Family Wealth LLC boosted its holdings in Chevron by 192.6% in the fourth quarter. Fusion Family Wealth LLC now owns 1,273 shares of the oil and gas company’s stock worth $159,000 after acquiring an additional 838 shares in the last quarter. Lenox Wealth Advisors Inc. boosted its holdings in Chevron by 15,555.6% in the fourth quarter. Lenox Wealth Advisors Inc. now owns 1,409 shares of the oil and gas company’s stock worth $176,000 after acquiring an additional 1,400 shares in the last quarter. Vantage Financial Partners Ltd. Inc. bought a new position in Chevron in the third quarter worth approximately $201,000. Lesa Sroufe & Co bought a new position in Chevron in the third quarter worth approximately $201,000. Finally, Chase Investment Counsel Corp bought a new position in Chevron in the third quarter worth approximately $202,000. Institutional investors own 65.05% of the company’s stock.
Get Chevron alerts:
Shares of CVX opened at $125.53 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.04 and a quick ratio of 0.84. The company has a market cap of $239,794.06, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 2.47 and a beta of 1.14. Chevron Co. has a 12 month low of $102.55 and a 12 month high of $133.88.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 27th. The oil and gas company reported $1.90 EPS for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.45. The company had revenue of $37.76 billion during the quarter, compared to the consensus estimate of $40.34 billion. Chevron had a return on equity of 5.83% and a net margin of 6.95%. Chevron’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the business posted $1.23 earnings per share. equities research analysts predict that Chevron Co. will post 7.26 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Friday, May 18th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Thursday, May 17th. Chevron’s payout ratio is 121.08%.
In related news, VP R. Hewitt Pate sold 25,500 shares of the stock in a transaction that occurred on Tuesday, April 17th. The stock was sold at an average price of $121.97, for a total transaction of $3,110,235.00. Following the completion of the sale, the vice president now directly owns 25,500 shares of the company’s stock, valued at $3,110,235. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.
Several research analysts have issued reports on the company. Credit Suisse Group increased their price target on Chevron from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Monday, April 30th. Barclays increased their price objective on Chevron from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, April 30th. Piper Jaffray reissued a “buy” rating and issued a $140.00 price objective on shares of Chevron in a research note on Monday, April 23rd. ValuEngine raised Chevron from a “hold” rating to a “buy” rating in a research note on Wednesday, April 18th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $130.00 price objective on shares of Chevron in a research note on Friday, April 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $131.92.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX).