Pekin Hardy Strauss Inc. Has $5.59 Million Stock Position in Chevron Co. (NYSE:CVX)

Pekin Hardy Strauss Inc. raised its holdings in Chevron Co. (NYSE:CVX) by 7.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 38,561 shares of the oil and gas company’s stock after acquiring an additional 2,700 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Chevron were worth $5,585,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the period. RPG Investment Advisory LLC increased its position in shares of Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after buying an additional 3,933 shares during the period. State Street Corp increased its position in shares of Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after buying an additional 874,962 shares during the period. LPL Financial LLC increased its position in shares of Chevron by 5.7% during the third quarter. LPL Financial LLC now owns 3,147,686 shares of the oil and gas company’s stock worth $463,560,000 after buying an additional 171,089 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. increased its position in shares of Chevron by 3.2% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company’s stock worth $16,930,000 after buying an additional 3,561 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CVX. 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 research report on Tuesday, November 5th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Wells Fargo & Company cut their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, Raymond James cut their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Down 1.2 %

Chevron stock opened at $156.92 on Friday. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The firm has a market capitalization of $282.00 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The firm’s fifty day moving average price is $151.97 and its two-hundred day moving average price is $151.05. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the business earned $3.45 earnings per share. On average, equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

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

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The shares were 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 owns 1,057 shares in the company, 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 at this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

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.