Peregrine Asset Advisers Inc. Lowers Holdings in Chevron Co. (NYSE:CVX)

Peregrine Asset Advisers Inc. lowered its stake in shares of Chevron Co. (NYSE:CVX) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,165 shares of the oil and gas company’s stock after selling 618 shares during the period. Chevron accounts for about 2.0% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 13th biggest holding. Peregrine Asset Advisers Inc.’s holdings in Chevron were worth $4,201,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Picton Mahoney Asset Management acquired a new position in shares of Chevron during the third quarter worth $26,000. Bare Financial Services Inc acquired a new position in shares of Chevron during the fourth quarter worth $27,000. Valley Forge Investment Consultants Inc. ADV increased its position in shares of Chevron by 80.0% during the third 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 in the last quarter. Valued Wealth Advisors LLC acquired a new position in shares of Chevron during the fourth quarter worth $33,000. Finally, Legacy Financial Group LLC acquired a new position in shares of Chevron during the third quarter worth $43,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVX. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research report on Monday, January 8th. Wells Fargo & Company upped their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. HSBC upped their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Raymond James upped their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Finally, Royal Bank of Canada increased their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

Chevron Price Performance

Chevron stock traded up $2.05 during midday trading on Monday, reaching $162.30. The company had a trading volume of 8,427,958 shares, compared to its average volume of 8,484,045. The company has a market capitalization of $301.43 billion, a P/E ratio of 14.93, a P/E/G ratio of 2.37 and a beta of 1.11. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The firm’s fifty day simple moving average is $157.41 and its 200-day simple moving average is $151.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. Chevron’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the company posted $3.55 EPS. As a group, equities analysts anticipate that Chevron Co. will post 13.53 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.02%. Chevron’s payout ratio is 59.98%.

Insider Buying and Selling at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,247 shares of company stock worth $2,154,164. Insiders own 0.20% of the company’s stock.

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.