Pettyjohn Wood & White Inc. Has $7.27 Million Stock Position in Chevron Co. (NYSE:CVX)

Pettyjohn Wood & White Inc. grew its position in Chevron Co. (NYSE:CVX) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,205 shares of the oil and gas company’s stock after purchasing an additional 393 shares during the period. Chevron comprises about 1.3% of Pettyjohn Wood & White Inc.’s holdings, making the stock its 22nd largest position. Pettyjohn Wood & White Inc.’s holdings in Chevron were worth $7,272,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Life Planning Partners Inc bought a new position in Chevron during the fourth quarter valued at approximately $25,000. Rational Advisors LLC bought a new stake in Chevron in the third quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron during the 3rd quarter worth $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron during the 3rd quarter valued at $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at $31,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of Chevron stock opened at $156.57 on Friday. The firm has a fifty day moving average price of $152.83 and a two-hundred day moving average price of $151.34. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market cap of $281.36 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate 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 firm posted $3.45 earnings per share. Analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.37%. Chevron’s payout ratio is currently 70.37%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on CVX shares. Raymond James lowered their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Wells Fargo & Company lowered their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, UBS Group reduced their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus 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.