Peregrine Asset Advisers Inc. Has $4.49 Million Holdings in Chevron Co. (NYSE:CVX)

Peregrine Asset Advisers Inc. increased its position in Chevron Co. (NYSE:CVX) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,483 shares of the oil and gas company’s stock after purchasing an additional 318 shares during the period. Chevron makes up 1.8% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 14th largest holding. Peregrine Asset Advisers Inc.’s holdings in Chevron were worth $4,493,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Chevron by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after purchasing an additional 458,080 shares in the last quarter. Berkshire Hathaway Inc boosted its holdings in Chevron by 14.4% during the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after acquiring an additional 15,845,037 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Chevron by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after purchasing an additional 1,999,332 shares in the last quarter. Norges Bank bought a new stake in shares of Chevron during the 4th quarter worth $2,902,007,000. Finally, Bank of New York Mellon Corp grew its position in Chevron by 4.2% during the first quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock valued at $2,540,135,000 after buying an additional 654,482 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Raymond James lifted their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Barclays assumed coverage on Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 target price for the company. Wells Fargo & Company raised their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Finally, HSBC upped their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $186.95.

Insider Transactions at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the transaction, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the sale, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the transaction, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The disclosure for this sale can be found here. Insiders sold a total of 16,746 shares of company stock valued at $2,727,971 over the last three months. Corporate insiders own 0.20% of the company’s stock.

Chevron Stock Performance

Shares of Chevron stock traded down $0.42 during trading on Tuesday, hitting $153.91. 3,086,928 shares of the company’s stock traded hands, compared to its average volume of 7,943,533. Chevron Co. has a 1 year low of $139.62 and a 1 year high of $171.70. The business has a 50-day simple moving average of $158.21 and a 200-day simple moving average of $155.01. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The stock has a market capitalization of $283.65 billion, a P/E ratio of 14.22, a PEG ratio of 2.35 and a beta of 1.10.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the prior year, the firm earned $3.55 earnings per share. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 13.18 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.24%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is 59.98%.

Chevron Company 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.