Peregrine Asset Advisers Inc. Has $1.51 Million Stock Holdings in Chevron Co. (NYSE:CVX)

Peregrine Asset Advisers Inc. increased its position in Chevron Co. (NYSE:CVX) by 2.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,449 shares of the oil and gas company’s stock after acquiring an additional 290 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in Chevron were worth $1,513,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Tacita Capital Inc raised its stake in shares of Chevron by 16.7% during the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 65 shares during the last quarter. Wallace Capital Management Inc. raised its position in Chevron by 0.8% during the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after purchasing an additional 65 shares during the last quarter. TFB Advisors LLC lifted its holdings in Chevron by 2.4% during the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after buying an additional 66 shares during the period. W.H. Cornerstone Investments Inc. grew its position in shares of Chevron by 1.4% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock valued at $677,000 after buying an additional 66 shares during the last quarter. Finally, S.A. Mason LLC increased its stake in shares of Chevron by 0.7% in the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after buying an additional 67 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 1.2 %

Shares of NYSE:CVX opened at $156.92 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron Co. has a 52-week low of $135.37 and a 52-week high of $167.11. The business’s 50 day simple moving average is $151.97 and its two-hundred day simple moving average is $150.99. The firm has a market cap of $282.00 billion, a P/E ratio of 16.14, a PEG ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the firm earned $3.45 earnings per share. As a group, research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred 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 completion of 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 SEC, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on CVX. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Barclays dropped their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Finally, Piper Sandler cut their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.13.

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.