Pitcairn Co. Trims Stock Holdings in Chevron Co. (NYSE:CVX)

Pitcairn Co. trimmed its holdings in Chevron Co. (NYSE:CVX - Free Report) by 16.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,096 shares of the oil and gas company's stock after selling 3,887 shares during the period. Pitcairn Co.'s holdings in Chevron were worth $2,960,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of CVX. Rational Advisors LLC bought a new position in Chevron in the 3rd quarter valued at $29,000. Darwin Wealth Management LLC bought a new position in Chevron in the 3rd quarter valued at $30,000. Anfield Capital Management LLC boosted its holdings in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC boosted its holdings in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 100 shares during the period. Finally, Krane Funds Advisors LLC bought a new position in Chevron in the 3rd quarter valued at $47,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company's stock.

Chevron Stock Performance

Chevron stock opened at $162.36 on Friday. 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 company has a market capitalization of $291.78 billion, a PE ratio of 17.84, a P/E/G ratio of 3.56 and a beta of 1.09. The firm has a fifty day simple moving average of $151.58 and a two-hundred day simple moving average of $152.69. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the previous year, the firm posted $3.05 earnings per share. The firm's revenue for the quarter was down 6.3% on a year-over-year basis. Research analysts expect that Chevron Co. will post 10.55 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Monday, November 18th. Chevron's payout ratio is 71.65%.

Analysts Set New Price Targets

CVX has been the subject of several analyst reports. Barclays raised their price target on shares of Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Bank of America started coverage on shares of Chevron in a report on Thursday, October 17th. They issued a "buy" rating and a $168.00 price target for the company. Mizuho dropped their price objective on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating for the company in a report on Monday, September 16th. UBS Group lifted their price objective on shares of Chevron from $192.00 to $194.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Finally, Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $174.93.

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.

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