Pittenger & Anderson Inc. Sells 54,325 Shares of Chevron Co. (NYSE:CVX)

Pittenger & Anderson Inc. lowered its holdings in Chevron Co. (NYSE:CVX) by 73.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,711 shares of the oil and gas company’s stock after selling 54,325 shares during the period. Pittenger & Anderson Inc.’s holdings in Chevron were worth $2,855,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. NTV Asset Management LLC lifted its position in Chevron by 8.8% during the fourth quarter. NTV Asset Management LLC now owns 28,145 shares of the oil and gas company’s stock valued at $4,077,000 after purchasing an additional 2,286 shares during the last quarter. KLCM Advisors Inc. lifted its holdings in shares of Chevron by 0.8% during the 4th quarter. KLCM Advisors Inc. now owns 27,179 shares of the oil and gas company’s stock worth $3,937,000 after acquiring an additional 224 shares during the last quarter. Nicholas Hoffman & Company LLC. grew its position in Chevron by 1.2% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 17,487 shares of the oil and gas company’s stock worth $2,533,000 after acquiring an additional 203 shares in the last quarter. Total Investment Management Inc. increased its stake in Chevron by 4.2% in the fourth quarter. Total Investment Management Inc. now owns 2,595 shares of the oil and gas company’s stock valued at $376,000 after acquiring an additional 104 shares during the last quarter. Finally, Americana Partners LLC raised its position in Chevron by 179.4% during the fourth quarter. Americana Partners LLC now owns 253,221 shares of the oil and gas company’s stock valued at $36,677,000 after purchasing an additional 162,577 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Raymond James decreased their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday, November 5th. Wells Fargo & Company cut their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Price Performance

Shares of Chevron stock opened at $155.32 on Monday. The business has a 50 day moving average of $151.86 and a 200 day moving average of $150.73. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a market cap of $279.12 billion, a PE ratio of 15.98, a P/E/G ratio of 1.39 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the previous year, the firm earned $3.45 earnings per share. As a group, equities research analysts forecast that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.40%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s payout ratio is presently 67.08%.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

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.