Chevron Co. (NYSE:CVX) Holdings Trimmed by Pinebridge Investments L.P.

Pinebridge Investments L.P. lessened its position in shares of Chevron Co. (NYSE:CVX - Free Report) by 20.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 371,336 shares of the oil and gas company's stock after selling 98,218 shares during the period. Pinebridge Investments L.P.'s holdings in Chevron were worth $53,784,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. McIlrath & Eck LLC grew its holdings in shares of Chevron by 5.8% during the third quarter. McIlrath & Eck LLC now owns 1,434 shares of the oil and gas company's stock worth $211,000 after purchasing an additional 78 shares during the last quarter. Westside Investment Management Inc. grew its stake in Chevron by 9.0% during the 3rd quarter. Westside Investment Management Inc. now owns 3,405 shares of the oil and gas company's stock worth $503,000 after buying an additional 281 shares during the last quarter. Diamant Asset Management Inc. increased its position in Chevron by 6.2% during the third quarter. Diamant Asset Management Inc. now owns 5,510 shares of the oil and gas company's stock worth $811,000 after buying an additional 320 shares during the period. Wealthquest Corp lifted its stake in Chevron by 2.3% in the third quarter. Wealthquest Corp now owns 5,222 shares of the oil and gas company's stock valued at $782,000 after buying an additional 118 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd boosted its holdings in shares of Chevron by 4.5% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 22,219 shares of the oil and gas company's stock valued at $3,254,000 after acquiring an additional 950 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction dated 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 transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

Chevron Trading Down 0.3 %

Shares of NYSE:CVX traded down $0.38 during midday trading on Friday, reaching $138.69. The company's stock had a trading volume of 6,875,984 shares, compared to its average volume of 7,952,672. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $244.18 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The business has a 50 day moving average price of $152.05 and a 200 day moving average price of $153.02. Chevron Co. has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 last year, the business earned $3.45 EPS. Research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a dividend of $1.71 per share. This is an increase from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.93%. The ex-dividend date was Friday, February 14th. Chevron's dividend payout ratio (DPR) is presently 70.37%.

Wall Street Analyst Weigh In

Several analysts recently commented on CVX shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $175.00 price target on shares of Chevron in a research report on Monday, February 3rd. BNP Paribas lowered Chevron to a "cautious" rating in a report on Tuesday, April 15th. Barclays downgraded Chevron from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $171.00 to $152.00 in a research note on Wednesday. Wells Fargo & Company lowered their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Finally, Redburn Atlantic reaffirmed a "sell" rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Chevron currently has an average rating of "Hold" and an average target price of $165.71.

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.