Pettinga Financial Advisors LLC Acquires 272 Shares of Chevron Co. (NYSE:CVX)

Pettinga Financial Advisors LLC increased its stake in shares of Chevron Co. (NYSE:CVX) by 10.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,972 shares of the oil and gas company’s stock after acquiring an additional 272 shares during the quarter. Pettinga Financial Advisors LLC’s holdings in Chevron were worth $438,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CVX. Anfield Capital Management LLC raised its position in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC increased its stake in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Krane Funds Advisors LLC bought a new position in Chevron during the third quarter valued at about $47,000. Livelsberger Financial Advisory acquired a new position in Chevron in the 3rd quarter valued at approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Chevron in the 1st quarter worth approximately $55,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Up 0.2 %

Shares of CVX opened at $150.82 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a market cap of $277.96 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 3.30 and a beta of 1.09. The stock has a fifty day moving average price of $146.59 and a two-hundred day moving average price of $153.36. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the firm earned $3.08 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts predict that Chevron Co. will post 10.86 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.32%. Chevron’s payout ratio is 59.98%.

Analysts Set New Price Targets

CVX has been the subject of a number of recent research reports. Barclays cut their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Truist Financial dropped their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Finally, Wells Fargo & Company cut their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Chevron 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.