Pinion Investment Advisors LLC Buys 232 Shares of Chevron Corporation $CVX

Pinion Investment Advisors LLC grew its stake in shares of Chevron Corporation (NYSE:CVX) by 4.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,894 shares of the oil and gas company’s stock after acquiring an additional 232 shares during the period. Pinion Investment Advisors LLC’s holdings in Chevron were worth $844,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Stiles Financial Services Inc grew its position in shares of Chevron by 3.4% during the 2nd quarter. Stiles Financial Services Inc now owns 4,459 shares of the oil and gas company’s stock valued at $639,000 after acquiring an additional 147 shares during the period. McKinley Carter Wealth Services Inc. grew its position in shares of Chevron by 14.3% during the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 24,014 shares of the oil and gas company’s stock valued at $3,439,000 after acquiring an additional 3,002 shares during the period. Coordinated Financial Services Inc. purchased a new stake in shares of Chevron during the 2nd quarter valued at approximately $347,000. Castellan Group lifted its stake in shares of Chevron by 10.7% during the 2nd quarter. Castellan Group now owns 20,405 shares of the oil and gas company’s stock valued at $2,922,000 after buying an additional 1,965 shares in the last quarter. Finally, Horizon Bancorp Inc. IN lifted its stake in shares of Chevron by 122.1% during the 2nd quarter. Horizon Bancorp Inc. IN now owns 3,043 shares of the oil and gas company’s stock valued at $436,000 after buying an additional 1,673 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Stock Down 1.4%

Shares of Chevron stock opened at $151.63 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The stock has a market capitalization of $262.02 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.98 and a beta of 0.84. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a 50-day simple moving average of $156.15 and a two-hundred day simple moving average of $148.79.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.55 earnings per share. On average, analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron’s dividend payout ratio is presently 88.03%.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on CVX shares. Wells Fargo & Company reiterated an “overweight” rating and issued a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Melius started coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. Mizuho decreased their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. TD Cowen lifted their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Finally, Piper Sandler lifted their target price on shares of Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $165.40.

About Chevron

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.