Peregrine Asset Advisers Inc. Sells 18,131 Shares of Chevron Co. (NYSE:CVX)

Peregrine Asset Advisers Inc. decreased its holdings in Chevron Co. (NYSE:CVX) by 63.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,352 shares of the oil and gas company’s stock after selling 18,131 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Chevron were worth $1,619,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVX. Gilbert & Cook Inc. raised its stake in shares of Chevron by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock valued at $1,538,000 after acquiring an additional 369 shares during the period. Aveo Capital Partners LLC grew its holdings in Chevron by 1.0% during the 4th quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock valued at $1,285,000 after purchasing an additional 82 shares during the last quarter. Gryphon Financial Partners LLC raised its position in Chevron by 55.0% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock worth $1,648,000 after purchasing an additional 4,047 shares during the period. Brown Advisory Inc. lifted its stake in Chevron by 1.5% in the fourth quarter. Brown Advisory Inc. now owns 203,559 shares of the oil and gas company’s stock worth $30,363,000 after purchasing an additional 2,936 shares during the last quarter. Finally, TrinityPoint Wealth LLC boosted its position in shares of Chevron by 6.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 10,646 shares of the oil and gas company’s stock valued at $1,588,000 after buying an additional 680 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Scotiabank decreased their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday. Truist Financial reduced their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, Barclays reduced their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Seven equities 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $182.88.

Chevron Trading Up 1.1 %

Shares of NYSE:CVX opened at $142.11 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The firm has a market capitalization of $259.91 billion, a P/E ratio of 13.07, a P/E/G ratio of 2.41 and a beta of 1.09. The business’s 50-day moving average is $148.88 and its 200 day moving average is $154.68. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.08 earnings per share. On average, research analysts predict that Chevron Co. will post 11.57 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.